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Jump to Navigation Frame Your location: Home Page Quizzes Chapter 15 Quiz Assessments View All Submissions View Attempt View Attempt 1 of 1 Title: Chapter 15 Quiz Started: December 4, 2009 5:58 PM Submitted: December 4, 2009 7:38 PM Time spent: 01:40:18 Total score: 90/100 = 90% Total score adjusted by 0.0 Maximum possible score: 100 1. Bleeker Company issued 10,000 shares of its $5 par value common stock having an estimated value of $25 per share and 15,000 shares of its $15 par value preferred stock having an estimated value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock? Student Response Value Correct Answer Feedback 1. $50,000 2. $218,182 100% 3. $250,000 4. $255,000 General Feedback: Est value of common = 10,000*$25= 250000 Est value of pref = 15,000*$20= 300,000 Total est value = 250,000+300,000 = 550,000 Total allocated to common = 250/550 * $480,000 Score: 10/10 2.
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Blonker Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share and 15,000 shares of its $15 par value preferred stock for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock? Student Response Value Correct Answer Feedback 1. $50,000 2. $218,182 3. $250,000 100% 4. $255,000 General Feedback: Total allocated to common is its fair value = 10,000 * $25 = 250,000 Score: 10/10 3. Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation’s existence: Sold 5,000 shares of common stock for $18 per share. Issued 5,000 shares of common stock in exchange for a patent valued at
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This note was uploaded on 05/12/2010 for the course ACCT ACCT 3367 taught by Professor Kilic during the Spring '10 term at University of Houston.

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