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How much should fox record to the additional paid-in capital

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Problem 1: Fox Co. issues 30,000 shares of $1 par common stock at $9 market price and 3,000 shares of $20 par preferred stock at $30 market price. Fox receives a total bargain lump-sum price of $300,000 for this issuance of both classes of stock. How much should Fox record to the Additional Paid-in Capital-Common Stock account in the entry for this issuance

Group of answer choices

Option 1: $15,000

Option 2: $240,000

Option 3: $195,000

Option 4: $225,000

Reference no: EM132670219

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