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BRIEF EXERCISE 15-4 - $ 6,000 FMV of preferred(100 X $90...

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BRIEF EXERCISE 15-4 Cash .................................................................................. 14,200 Preferred Stock (100 X $50) .................................... 5,000 Paid-in Capital in Excess of Par—Preferred ......... 3,520 Common Stock (300 X $10) .................................... 3,000 Paid-in Capital in Excess of Par—Common .......... 2,680 FMV of common (300 X $20)
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Unformatted text preview: .......................................... $ 6,000 FMV of preferred (100 X $90). ......................................... 9,000 Total FMV. ................................................................. $15,000 Allocated to common $15,000 $6,000 X $14,200 = $ 5,680 Allocated to preferred $15,000 $9,000 X $14,200 = 8,520 14,200...
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