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Shasta Products Company issues 5,000 shares of its $10 par value common stock having a...

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Accounting

Shasta Products Company issues 5,000 shares of its $10 par value common stock having a fair value of $53 per share and 8,000 shares of its $20 par value preferred stock having a fair value of $45 per share for a lump sum of $775,000. How much should be allocated to common and to preferred?
Type
Number of Shares
Mkt. Value
Total
Percent
Allocation

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