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.
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- Assume the issuer incurs $1 million in otherexpenses to sell 3 million shares at $40 each to anunderwriter and the underwriter sells the shares at$43 each. By the end of the first day’s trading, theissuing company’s stock price had risen to $70.What is the total cost of underpricing?Penne Pharmaceuticals sold 10 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $15 per share, what is the journal entry to record the sale of the shares? Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).Prepare the corresponding journal entry for each problem. 1. Alpha Corporation’s 10,000 common stock of P100 par value are sold at P150 per share. 2. Bravo Co. sells 20 of the 100 shares of its treasury stock for P130 per share. The cost of each treasury share is P120. 3. Charlie Co. sells 40 of the 200 shares of its treasury stock for P120 per share. The cost of each treasury share is P150. 4. Delta Corporation has 5,000 shares of common stock outstanding when it declares a 50% stock dividend. This means that 2,500 new shares of stock will be issued to existing stockholders. The stock has a par value of P100 per share and the stock has a market value of P150 per share on the declaration date.
- Mayo Inc.'s perpetual preferred stock sells for $97.50 per share, and it pays an $8.50 annual dividend. What is the company's cost of preferred stock for use in calculating the WACC? Show work in excel and explain answerHassel Inc.'s would like to undertake a policy of paying out 45% of its income. Hassel’s latest net income was P1,250,000, and it had 225,000 shares outstanding. What dividend per share should Hassel declare? * Choices: P2.63 P2.14 P2.38 P2.50 P2.26Corporation Ltd is considering raisng additional equiry via a rights issue, in the amount of $120,000. It currently has 18,000 ordinary shares outstanding that sell for $32 each. The subscription price will be $28 per share. What is the value of one right?
- 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 millionPenne Pharmaceuticals sold 8 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $12 per share, what is the journal entry to record the sale of the shares?Assuming there were no buying/selling fees, what would be the total capital gain if 173 shares of ABCD stock were purchased for $40.67 per share and all 173 shares were sold for $54.14 per share? Round your answer to the nearest penny.
- An investor short sells 250 shares of a stock for $43 per share. The initial margin is 60%. Ignoring transaction costs, how much will be in the investor’s account after this transaction if this is the only transaction the investor has undertaken and the investor has deposited only the required amount?Bo's Home Manufacturing has 280,000 shares outstanding that sell for $43.87 per share. The company has announced that it will repurchase $48,000 of its stock. What will the share price be after the repurchase?ABC Inc.’s perpetual preferred stock sells for $56 per share, and it pays an $9 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of $4 per share. What is the company’s cost of preferred stock for use in calculating the WACC?Note: Enter your answer rounded off to two decimal points.Do not enter % in the answer box. For example, if your answer is 0.12345 thenenter as 12.35 in the answer box.