Kelly Jordan

Kelly Jordan owned 220 shares of Diego Company's convertible preferred stock at $50 par value. He converted each share of preferred stock into two shares of common stock.

-Refer to Kelly Jordan. If common stock was selling at $31 per share on the date of conversion, compute Kelly Jordan's common stock worth.

Question

Kelly Jordan
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Kelly Jordan owned 220 shares of Diego Company's convertible preferred stock at $50 par value. He converted each share of preferred stock into two shares of common stock.
​
-Refer to Kelly Jordan. If common stock was selling at $31 per share on the date of conversion, compute Kelly Jordan's common stock worth.​

Quizplus · Accepted Answer

The Answer of Kelly Jordan
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Kelly Jordan owned 220 shares of Diego Company's convertible preferred stock at $50 par value. He converted each share of preferred stock into two shares of common stock.
​
-Refer to Kelly Jordan. If common stock was selling at $31 per share on the date of conversion, compute Kelly Jordan's common stock worth.​

Kelly Jordan ​

Kelly Jordan