95.The December 31, 2017 condensed balance sheet of Bee Services, a proprietorship, follows:

Current assets...............................$140,000

Property, plant and equipment (net)..............130,000

$270,000

Liabilities....................................$70,000

Betty Bee, Capital............................200,000

$270,000

Fair values at December 31, 2017, are as follows:

Current assets...............................$160,000

Equipment..................................210,000

Liabilities....................................70,000

On January 1, 2018, Bee Services was incorporated as Bee-Line Ltd., with 10,000 no par value common shares issued. How much should be credited to Common Shares?

a) $370,000

b) $300,000

c) $270,000

d) $200,000

96. On July 1, 2017, CeeCorp. issued 1,000 of its no par common shares and 2,000 of its no par preferred shares for a lump sum of $100,000. At this date Cee's common shares wereselling for $48 per share and thepreferred shares for $36 per share. Using the relative fair value method, the amount of the proceeds allocated to the preferred shares account should be

a) $50,000.

b) $55,000.

c) $60,000.

d) $72,000.