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Webb Company purchased 90% of Jones Company for $990,000 when the book value of Jones was S1,000,000. There was no premium paid by Webb. Jones

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Webb Company purchased 90% of Jones Company for $990,000 when the book value of Jones was S1,000,000. There was no premium paid by Webb. Jones currently has 100,000 shares outstanding and a book value of $1,200,000. Assume Jones issues 20,000 new shares of its common stock for $15 per share. 13) 13) What is the adjusted book value of Jones after the stock issuance A) $1,350,000 B) $1,080,000. C) $1,335,000. D) $1,500,000. E) $1,200,000

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