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a. Assuming the preferred stock was originally issued for cash, determine the amount of cash that was collected when the stock was issued. Please include
a. Assuming the preferred stock was originally issued for cash, determine the amount of cash that was collected when the stock was issued.
Please include steps on how to get it. I thought the answer was $500, but it is not correct.
CREIGHTON COMPANY As of December 31, 2018 Stockholders' equity Preferred stock, $10 stated value, 7% cumulative 300 shares authorized, 50 issued and outstanding Common stock, $10 par value, 250 shares authorized, $ 500 1,000 3,000 100 issued and outstanding Common stock, class B, $20 par value, 400 shares authorized, 150 issued and outstanding Common stock, no par, 150 shares authorized, 100 issued and outstanding Paid-in capital in excess of stated value-preferred Paid-in capital in excess of par value-common Paid-in capital in excess of par value-class B common Retained earnings Total stockholders' equity 2,200 600 1,200 750 7,000 16,250Step by Step Solution
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