A Corporation Issues 50 "Packages" of Securities for $154 Per

Multiple Choice

A corporation issues 50 "packages" of securities for $154 per package.Each package consists of three shares of $5 par common stock and one share of $50 par preferred stock.If the market values of $40 per share for the common stock and $100 per share for preferred stock are known, the journal entry to record the sale would assign a total value to the common stock (Common Stock and Additional Paid-in Capital on Common Stock) of

A) $2, 200
B) $4, 200
C) $5, 775
D) $6, 000