No-par common stock : The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation. Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes. To record: the journal entry for the issuance of no-par common stock for B Corporation.

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Answer 1

Question

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

(b)

To determine

To Journalize: the issuance of common stock for S Company.

2.

To determine

To find: which type of stock results in more total paid-in capital.

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Recently, Abercrombie & Fitch has been implementing a turnaround strategy since its sales had been falling for the past few years (11% decrease in 2014, 8% in 2015, and just 3% in 2016.) One part of Abercrombie's new strategy has been to abandon its logo-adorned merchandise, replacing it with a subtler look. Abercrombie wrote down $20.6 million of inventory, including logo-adorned merchandise, during the year ending January 30, 2016. Some of this inventory dated back to late 2013. The write-down was net of the amount it would be able to recover selling the inventory at a discount. The write-down is significant; Abercrombie's reported net income after this write-down was $35.6 million. Interestingly, Abercrombie excluded the inventory write-down from its non-GAAP income measures presented to investors; GAAP earnings were also included in the same report. Question: From an investor standpoint, do you think that the effect of the inventory write-down should be considered when…

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Answer 2

Question

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

(b)

To determine

To Journalize: the issuance of common stock for S Company.

2.

To determine

To find: which type of stock results in more total paid-in capital.

Expert Solution & Answer

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Answer 3

Question

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

(b)

To determine

To Journalize: the issuance of common stock for S Company.

2.

To determine

To find: which type of stock results in more total paid-in capital.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

(b)

To determine

To Journalize: the issuance of common stock for S Company.

2.

To determine

To find: which type of stock results in more total paid-in capital.

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Answer 5

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

(b)

To determine

To Journalize: the issuance of common stock for S Company.

2.

To determine

To find: which type of stock results in more total paid-in capital.

Answer 6

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

Answer 7

Chapter 13, Problem 13.20E

1. (a)

To determine

No-par common stock: The common stock that is issued at its fair market value is known as no-par common stock. Common stock are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receives a share of profit from the profits earned by the corporation.

Stated value: It refers to the appropriate value of the stock determined by the board of directors of a corporation for accounting purposes.

To record: the journal entry for the issuance of no-par common stock for B Corporation.

Answer 8

(b)

To determine

To Journalize: the issuance of common stock for S Company.

Answer 9

(b)

To determine

To Journalize: the issuance of common stock for S Company.

Answer 10

2.

To determine

To find: which type of stock results in more total paid-in capital.

Answer 11

2.

To determine

To find: which type of stock results in more total paid-in capital.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 13 - Prob. 1QC Ch. 13 - Prob. 2QC Ch. 13 - Suppose Value Home and Garden Imports issued...Ch. 13 - Prob. 4QC Ch. 13 - Prob. 5QC Ch. 13 - Assume that a company paid 6 per share to purchase...Ch. 13 - Prob. 7QC Ch. 13 - A small stock dividend a. decreases common stock....Ch. 13 - Jackson Health Foods has 8,000 shares of 2 par...Ch. 13 - Prob. 10QC

Solution Summary: The author describes the accounting equation for the journal entry for issuance of no-par common stock for B Corporation.

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To Journalize: the issuance of common stock for S Company.

To find: which type of stock results in more total paid-in capital.

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