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How much of proceeds would be allocated to ordinary shares

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Reference no: EM132796116

NCT corporation issued shares at a single price for $520,000.

  1. 10,000 shares of its $5 par value ordinary shares having a fair value of $25 per share
  2. 15,000 shares of its $15 par value preference shares having a fair value of $20 per share

Problem 1: How much of the proceeds would be allocated to the ordinary shares?

Option a. $236,364

Option b. $276,250

Option c. $250,000

Option d. $270,833

Reference no: EM132796116

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