Solution-Prepare the JEs and disclosures if required

Prepare the JEs and disclosures if required

Reference no: EM132537257

Question -

A. One of Merriweather's major customers declared bankruptcy on February 3, 2021. At the end of December 2020, this company owed Merriweather $1,500,000, of which just $200,000 was paid in January 2021.

B. On January 23, 2021, a strike was called at one of Merriweather's largest plants, which halted 30% of its production. The strike has not yet been settled.

C. On February 1, 2021, the board of directors adopted a resolution accepting the offer of an investment banker to guarantee the marketing of $1,200,000 of preferred stock.

Required - Prepare the JEs and disclosures if required.

Reference no: EM132537257

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Prepare the JEs and disclosures if required

Reference no: EM132537257

Reference no: EM132537257

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