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What the total amount allocated to the common issue is

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Reference no: EM133002719

Problem 1: A company issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $115,000. The market price of the common shares is $172 each and market price of the preferred is $215 each. The total amount allocated to the common issue (par account plus paid-in-excess account) is

a. $92,000
b. $87,000
c. $100,000
d. $95,000

Reference no: EM133002719

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