Reference no: EM132672558
Recording Entries for Common Stock Issuance
Problem 1: Record journal entries for the following separate transactions.
a. Max Inc. issued 15,000 shares of $1 par value common stock for $20 per share on January 1, 2020.
b. Max Inc. issued 3,000 shares of no-par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of $2.
c. Max Inc. issued 1,500 shares of no-par common stock for $18 per share on January 1, 2020.
d. Max Inc. issued 15,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $3,000 in legal fees related to the stock issuance.
e. Max Inc. issued 30,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $534,000.
f. Max Inc. issued 9,000 shares of Class A common stock ($1 par) and 12,000 shares of Class B common stock ($2 par) at a price of $240,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share.
g. Max Inc. issued 9,000 shares of Class A common stock ($1 par) and 12,000 shares of Class B common stock ($2 par) at a price of $255,000. At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown.
|
What is the portfolio beta for john
: $116,513 is invested in Stock X and the remainder is invested in Stock Y. X's beta is 2 and Y's beta is 0.7. What is the portfolio's beta?
|
|
Record the entry for the declaration of dividends
: Record the entry for the declaration of dividends for each of the four separate scenarios. On April 1, 2020, Meriter Corporation declared a cash dividend of $5
|
|
Explain the functions and purpose of caucuses
: Explain the functions and purpose of caucuses and primary elections in political campaigns, particularly in the presidential election process.
|
|
How you make reflection part of your practicum experience
: Develop a policy for admission criteria for other units in the hospital (Emergency Department) in the hospital to refer to for suitable admission.
|
|
Record journal entries for the separate transactions
: Record journal entries for the separate transactions. Max Inc. issued 1,500 shares of no-par common stock for $18 per share on January 1, 2020.
|
|
Aristotle principles for legislating morality
: Briefly state how Aristotle's principles for legislating morality are connected to his ideas of universal justice and the ultimate purpose of the political comm
|
|
How can the security dilemma be escaped or mitigated
: How can the security dilemma be escaped or mitigated? Explain by referencing and extrapolating on the various theories you've been exposed to in the course.
|
|
Would mega corp liabilities increase
: Mega Corp. declared a $50,000 cash dividend, Would Mega Corp's liabilities increase, decrease, or remain unchanged on each listed date?
|
|
What would spirituality be according to your own worldview
: What would spirituality be according to your own worldview? How do you believe that your conception of spirituality would influence the way in which you care.
|