Raven Corporation is authorized to issue 2,000,000, common shares. During its first three years of operation, Raven issu
Posted: Wed Mar 09, 2022 8:19 am
Raven Corporation is authorized to issue 2,000,000, common
shares. During its first three years of operation, Raven issued
1,200,000 shares at $15 per share. In 2021, Raven issued an
additional 5,000 shares in return for equipment with a fair value
of $75,000. The market price of the shares was $16 at the time of
the sale.
Instructions
Based on the above information, answer the following questions:
shares. During its first three years of operation, Raven issued
1,200,000 shares at $15 per share. In 2021, Raven issued an
additional 5,000 shares in return for equipment with a fair value
of $75,000. The market price of the shares was $16 at the time of
the sale.
Instructions
Based on the above information, answer the following questions: