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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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