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How much of the proceeds would be allocated to common stock

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Problem 1: Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share for a lump sum of P480,000. How much of the proceeds would be allocated to the common stock?

a. P250,000
b. P218,182
c. P50,000
d. P255,000

Reference no: EM132946078

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