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USE THE FOLLOWING INFORMATION FOR # 1 - 4;Motown issues 200 # common shares;AND 100 # preferred shares;Par value of...

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USE THE FOLLOWING INFORMATION FOR # 1 - 4;Motown issues 200 # common shares;AND 100 # preferred shares;Par value of common $ 3.00;Par value of preferred $ 2.00;FMV of common $ 22.00;FMV of preferred Unknown;Total lump sum purchase price paid by Max $ 52,000;1.) The total purchase price allocated to the common stock is;A. $ 4,400;B. $ 47,400;C. $ 47,600;D. $ 600;2.) The total purchase price allocated to the preferred stock is;A. $ 4,400;B. $ 47,400;C. $ 47,600;D. $ 600

 

Paper#75761 | Written in 18-Jul-2015

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