Q: 10 Marigold Corp. issued 10100 shares of its $5 par value common stock having a fair value of $20 per share and 14700 shares of its $15 par value preferred stock having a fair value of $30 per share for a lump sum of $518000. How much of the proceeds would be allocated to the common stock?

$162731

$202000

$228250

$355269

Q:11 Waterway Industries has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporations existence: Sold 19600 shares of common stock for $12.50 per share. Issued 20500 shares of common stock in exchange for a patent valued at $307500. At the end of the Waterways first year, total paid-in capital amounted to

$307500.

$127500.

$552500.

$245000.

Q: 12 On September 1, 2020, Marigold Corp. reacquired 31000 shares of its $15 par value common stock for $20 per share. Marigold uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

Common Stock for $465000.

Common Stock for $465000 and Paid-in Capital in Excess of Par for $155000.

Treasury Stock for $465000.

Treasury Stock for $620000.