Business, 19.02.2020 22:46 sirdre1982

The following is a news item reported by Reuters:
WASHINGTON, Jan 29 (Reuters)—Wright Medical Group, a maker of reconstructive implants for knees and hips, on Tuesday filed to sell 3 million shares of common stock.

In a filing with the U. S. Securities and Exchange Commission, it said it plans to use the proceeds from the offering for general corporate purposes, working capital, research and development, and acquisitions.

After the sale there will be about 32.5 million shares outstanding in the Arlington, Tennessee-based company, according to the SEC filing.

Wright shares closed at $17.25 on Nasdaq.
The common stock of Wright Medical Group has a par of $0.03 per share.
Required:
Prepare the journal entry to record the sale of the shares assuming the price existing when the announcement was made and ignoring share issue costs

Event 1- Record the issuance of the new stock.

2) ICOT Industries issued 30 million of its $1 par common shares for $500 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $1 million.

Prepare the journal entry to record the issuance of the shares

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 12:30

Can you name the traditional features of the mapuche economy? what are they?

Answers: 3

Answer

Business, 21.06.2019 23:00

James has set the goal of achieving all "a"s during this year of school.which term best describes this goal

Answers: 2

Answer

Business, 22.06.2019 17:40

Take it all away has a cost of equity of 11.11 percent, a pretax cost of debt of 5.36 percent, and a tax rate of 40 percent. the company's capital structure consists of 67 percent debt on a book value basis, but debt is 33 percent of the company's value on a market value basis. what is the company's wacc

Answers: 2

Answer

Business, 22.06.2019 19:10

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.

Answers: 2

Answer

You know the right answer?

The following is a news item reported by Reuters:
WASHINGTON, Jan 29 (Reuters)—Wright Medical...

Questions