Sarasota Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $64 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock.

Journal entry

Explanation:

The journal entry is as follows

Preferred Stock $55,000   (1,100 shares × $50)

Paid in capital Preferred Stock $15,400  {1,100 shares × ($64 - $50)}

          To Common Stock $22,000   (2,200 shares × $10)

         To Paid in capital common stock Additional $48,400

(Being the conversion of the preferred stock is recorded

i believe it’s b because the rest don’t make sense

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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