Jaxon, Inc. is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 100,000 shares of no-par common stock with a stated value of $1 per share. If Retro issues 4,400 shares of preferred stock for land with an of 456,800, how much goes into the land account? asking price of $550,000 and a market value Your Answer: Answer Question 9 (3 points) Saved Iris Manufacturing Corporation purchased 1,000 shares of its own previously issued $11 par common stock for $46,000. As a result of this event Kaplan's total stockholders' equity increased $46,000. Kaplan's Common Stock account is increased by $24,000. Kaplan's total stockholders' equity decreased $46.000. Kaplan's Paid-in Capital in Excess of Par Value account increased $22,000