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a. $140,909 b. $150,000 c. $124,000 d. $169,091 Pennington Company issues 6,000 shares o fits $5 par value common stock having a fair value of
Pennington Company issues 6,000 shares o fits $5 par value common stock having a fair value of S25 per share and 9,000 shares of its S 15 par value preferred stock having a fair value of $20 per share for a lump sum of S 310,000. The proceeds allocated to the preferred stock is O a. S140,909 0 b. S150,ooo o c. S124,ooo O d. S169,091
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
