Value common stock having a fair value, Accounting Basics

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Value common stock having a fair value

Wheeler Company issued 5,000 shares of its $5 par value common stock having a fair value of $25 per share and 7,500 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $260,000. The proceeds allocated to the preferred stock?

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Accounting Basics: Value common stock having a fair value

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