Mada Co. issued 4,000 shares of common stock (par value $5) upon conversion of 2.000 shares...

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Mada Co. issued 4,000 shares of common stock (par value $5) upon conversion of 2.000 shares of preferred stock (par value $20) that was originally issued for a $4,000 premium. The entry that Mada would make is: O a. Preferred Stock APIC in Excess of Par. Preferred Common Stock 40,000 APIC in Excess of Par-Common 4,000 Ob. Preferred Stock APIC in Excess of Par-Preferred Retained Earnings Oc. Preferred Stock Common Stock Ⓒd. Preferred Stock 20,000 40.000 Common Stock 24,000 24,000 40,000 APIC in Excess of Par- Preferred 4.000 Common Stock 20,000 APIC in Excess of Par-Common 24,000 16,000 4,000 44,000 40.000 Mada Co. issued 4,000 shares of common stock (par value $5) upon conversion of 2.000 shares of preferred stock (par value $20) that was originally issued for a $4,000 premium. The entry that Mada would make is: O a. Preferred Stock APIC in Excess of Par. Preferred Common Stock 40,000 APIC in Excess of Par-Common 4,000 Ob. Preferred Stock APIC in Excess of Par-Preferred Retained Earnings Oc. Preferred Stock Common Stock Ⓒd. Preferred Stock 20,000 40.000 Common Stock 24,000 24,000 40,000 APIC in Excess of Par- Preferred 4.000 Common Stock 20,000 APIC in Excess of Par-Common 24,000 16,000 4,000 44,000 40.000

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The detailed answer for the above question is provided below The correct answer is c Preferred ... View the full answer