BRIEF EXERCISE 15-4 -...

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BRIEF EXERCISE 15-4 Cash. ................................................................................................. 13,500 Preferred Stock (100 X $50) . ............................................ 5,000 Paid-in Capital in Excess of Par—Preferred . ............. 3,100 Common Stock (300 X $10). ............................................. 3,000 Paid-in Capital in Excess of Par—Common. .............. 2,400 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 BRIEF EXERCISE 15-4 (Continued) Allocated to common $15,000 $6,000 X $13,500 = $ 5,400 Allocated to preferred $15,000 $9,000 X $13,500 = 8,100...
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This note was uploaded on 01/31/2011 for the course ACCT 302 taught by Professor Leee during the Winter '10 term at Grand Rapids Community College.

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