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PRIVATE PLACEMENT Mining company Edgar Digging Ltd announced plans to raise $1150000 through a placement of 5111111 ordinary fully paid shares at $0.225 per share to institutional investors to fund new surveys and drilling campaigns for its copper project. Prior to this announcement the shares of Edgar Digging Ltd were trading at around $0.26.
Required
Question 1: Distinguish between a public share float and a debt issuance.
Question 2: Assuming that the placement above proceeded, what journal entries would be required to account for it?
How would you account for the revaluation of the above assets - What would the relevant journal entries be - Determine the fair value of the debentures at the time of issue (which will also be their issue price).
What journal entry would OI have made to record the additional $285 million of asbestos liability? You can ignore income tax effects.
Juniper Corporation's common stock is trading at $12 per share uniper should recognize additional net income for 2009 of $4 per share, or $240,000
Assumptions about what influences people's decisions. How does this differ from perspectives embraced within behavioural research in Accounting
Idaho Falls maintains its books and records in a manner that facilitates the preparation of fund financial statements. Prepare all necessary journal entries to record the following events for the year ended December 31, 2014.
Does the new data reflect an increase in aggregate supply or does it indicate a decrease in aggregate supply?
Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value. Suppose that Target Co. had operating income of $68,300 and net assets with a fair value of $175,000. How much goo..
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The firm writes and mails checks on a daily basis also. These checks generally clear the bank in three days. What do know about the firm float?
The tax law provides four methods of cost recovery for assets: 1) immediate deduction of the total cost when paid or incurred; 2) deferral of cost until the property is sold or otherwise disposed of; 3) deduction based on a percentage of income from ..
Compute the total manufacturing cost per liter for both products under ABC. Under ABC, prepare a schedule showing the computation of the activity-based overhead rates (per cost driver).
On July 1, 2011, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2011 for $50,000 less than their book value. Prepare a multip..
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