1. Mouser Company issues 4,000 shares of its $5 par value common stock having a...
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Accounting
1.
Mouser Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $192,000. What amount of the proceeds should be allocated to the preferred stock?
| a. | $172,000 | |
| b. | $120,000 | |
| c. | $104,727 | |
| d. | $90,000 |
2.
Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2011, the first year of the corporations existence.
- Issued 5,000 shares of common stock for $18 per share.
- Issued 5,000 shares of common stock in exchange for a patent valued at $100,000.
At the end of the Adlers first year, total paid-in capital amounted to
| a. | $40,000 | |
| b. | $90,000 | |
| c. | $100,000 | |
| d. | $190,000 |
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