I need answer of this question solution general accounting Convex Incorporated sells 10 million shares of stock in an SEOlong dash, 44 million being primary shares issued by thecompany and 66 million being secondary shares sold byinvestors. At the time of the sale, Convex's stock was sellingat $9.0 per share. How much money was raised in the sale ifthe underwriter charges 66% of the gross proceeds as a fee?

Case -2If Total should be 110 million The total number of primary shares being sold = 44 million…

Answered: Convex Incorporated sells 10 million…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jeeper purchased 400 shares of the GST Company common stock at P4,890.00 per share. A few months later, he sold the shares at P3,500.00, His stockbroker charges 4.3% commission on round lots and 4.6% on odd lots. Compute a. total cost, n. the proceeds, and c. the gain or loss on the transactions.
Aldous Corporation owned 50,000 ordinary shares held for trading. These 50,000 shares were purchased for P120 per share. During the year, the investee distributed 50,000 share rights to its investor. The investor was entitled to buy a one new share for P90 cash and two of these rights. Each share had a market value of P130 and each right had a market value of P20 on the date of issue. 15. What total cost should be recorded for the new shares that are acquired by exercising the rights? a. 2,250,000 c. 3,050,000 b. 3,250,000 d. 5,500,000
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The Apex Corporation sells one million shares of its $0.02 par value Common Stock for $15 per share. The effects of this transaction on Apex Corporation’s accounts are: Select one: a. Cash +$15 million, Common Stock +$20,000, Additional Paid-in Capital +$14,980,000. b. Cash +$20,000, Common Stock +$20,000, No Effect on Additional Paid-in-Capital. c.Cash +$15 million, Common Stock ($20,000), Additional Paid-in-Capital ($14,980,000). d. Cash +$14,980,000, Common Stock ($20,000), Additional Paid-in-Capital +$15 million
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what journal entry would be made for the following transaction? highway studios sells 10 million of its no-par common shares for $10 per share.
Ladd, Inc., bought 400 shares of Dey, LLC, for $20 per share and incurred brokerage commissions of $100. Ladd later sold its stake in Dey for $22 per share and incurred brokerage commissions of $175. The effect of the sale on Ladd's net income is a(n) (increase/decrease) of $ .
Kenny Limited's issued share capital is £125,000 made up of 250,000 ordinary shares of £0.50 each. In the year to 31 October 2020, Kenny Limited makes the following profits: Profit before tax: £95,000 Profit for the year: £70,000 Kenny Limited has no preference shares in issue. What are the earnings per share of Kenny Limited for the year ended 31 October 2020?
Black company owned 50,000 ordinary shares which were purchased for P120 per share. During the year, theinvestee distributed 50,000 stock rights to the investor. The investor was entitled to buy one new share for P90 cash and two of these rights. Each share had a market value of P130 and each right had a market value of P20 on the date of issue. What amount should be debited to the investment account if the rights were not accounted for separately?
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