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Flounder Company issues 23440 shares of its $0.50 par value common stock having a market value of $35 per share and 6500 shares of its
Flounder Company issues 23440 shares of its $0.50 par value common stock having a market value of $35 per share and 6500 shares of its $35 par value preferred stock having a market value of $70 per share for a lump sum of $754000. The proceeds allocated to the common stock is $485010.$240804.$299000.$820400 Step by Step Solution
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
