gumbyseth1969p45qjl
02.04.2021 •
Business
Tom Yuppy, a wealthy investor, paid $20,000 for 1,000 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,000 shares of stock to Yuppy for $25 per share.
Required:
Show the effect of the two stock issues on Leuig's books in a horizontal statements model.
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Ответ:
See the attached excel file for the horizontal statements model.
Explanation:
In the attached excel file, we have:
FA = Financing activity
For event 1:
Cash = $20,000
Common stock = Number of shares * Share price at par = 1,000 * $10 = $10,000
PIC in Excess = Paid in capital in excess = Cash - Common stock = $20,000 - $10,000 = $10,000
For event 2:
Cash = Number of shares issued * Price per share = 2,000 * $2.50 = $50,000
Common stock = Number of shares * Share price at par = 2,000 * $10 = $20,000
PIC in Excess = Cash - Common stock = $50,000 - $20,000 = $30,000
Ответ:
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