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Determine the amount to allocate to each class and prepare

The House of Fashion issues 50 shares of common stock and 100 shares of preferred stock for a lump sum of $10,000. The par value of each class of stock is $30 and the market values are $200 and $400, respectively. Determine the amount to allocate to each class and prepare the journal entries.

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Financial Accounting: Determine the amount to allocate to each class and prepare

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Financial Accounting: Determine the amount to allocate to each class and prepare

Reference No:- TGS0781381

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