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Question - On 1 January 2020, King Ltd issued a prospectus inviting applications for 400 000 ordinary shares, at an issue price of $8, payable $5 on application, $3 on allotment. By 30 April, applications were received for 390 000 shares. As the minimum required subscription had been reached, on 1 May the directors allotted 390 000 shares. Share issue costs of $1500 were also paid on the same date. All the allotment money was received by 1 June.
Required -
a) Prepare journal entries to record the above transactions.
b) If a share issue is oversubscribed, what action can be taken in relation to excess money received on application?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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