A company issues 500 shares of $10 par value common stock and 100 shares of...
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Accounting
A company issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $115,000. The market price of the common shares is $172 each and market price of the preferred is $215 each. The total amount allocated to the common issue (par account plus paid-in-excess account) is
a.$92,000
b.$87,000
c.$100,000
d.$95,000
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