Accounting Problems Intermediate
Accounting Problems Intermediate
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In our eReader you can find the full English version of the book. Read Accounting Problems Intermediate Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Accounting Problems Intermediate
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Problem 94 The Pencoyd Iron Works desires to enlarge its plant. It proposes to finance the undertaking by an additional issue of $500, 000 Common Stock. Stockholders of record are notified that they will be permitted to subscribe to the new issue at par up to 25% of their present holdings. The market value of the stock is $125 a share. R. G. Wells, who owns 100 shares of Pencoyd stock, does not wish to exercise his right to purchase the new stock, and wishes to sell his right. What should he re...ceive for it?
Required: (a) Compute the theoretical value of Wells' stock right (b) Set up the entry that would appear on Wells' books for the sale of his right.
Comments. The right to purchase stock at a specified price granted by a corporation to its stockholders before the stock is offered to the public is transferable, and may be sold at private sale or through brokers in the same manner as the stock itself. The proceeds of such sale represent a capital income and should be credited to some such account as Sale of Stock Rights, indicating the name of the stock in each case.
What to read after Accounting Problems Intermediate?
You can find similar books in the "Read Also" column, or choose other free books by Charles Forest Rittenhouse to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Problem 94 The Pencoyd Iron Works desires to enlarge its plant. It proposes to finance the undertaking by an additional issue of $500, 000 Common Stock. Stockholders of record are notified that they will be permitted to subscribe to the new issue at par up to 25% of their present holdings. The market value of the stock is $125 a share. R. G. Wells, who owns 100 shares of Pencoyd stock, does not wish to exercise his right to purchase the new stock, and wishes to sell his right. What should he re...ceive for it?
Required: (a) Compute the theoretical value of Wells' stock right (b) Set up the entry that would appear on Wells' books for the sale of his right.
Comments. The right to purchase stock at a specified price granted by a corporation to its stockholders before the stock is offered to the public is transferable, and may be sold at private sale or through brokers in the same manner as the stock itself. The proceeds of such sale represent a capital income and should be credited to some such account as Sale of Stock Rights, indicating the name of the stock in each case.
What to read after Accounting Problems Intermediate?
You can find similar books in the "Read Also" column, or choose other free books by Charles Forest Rittenhouse to read onlineMoreLess
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