Use the following data to complete the question:  Preferred stock 400,000  Par Value 145 5% cumulative preferred stock  Question:  Issued 25% of shares of preferred stock at par value.  Please show working and explain answers

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the following data to complete the question: 

Preferred stock 400,000 

Par Value 145

5% cumulative preferred stock 

Question: 

Issued 25% of shares of preferred stock at par value. 

Please show working and explain answers 

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