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Group Problem Ohio Company was formed on July 1,2023. It was authorized to issue...

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Question

Accounting

Group Problem
Ohio Company was formed on July 1,2023. It was authorized to issue 300,000 shares of $10 par value common
stock and 100,000 shares of 8%$25 par value, cumulative and nonparticipating preferred stock.
How do you account for prefered stock and common stock?
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