Lump Sum Issuance of Shares

question 117

Essay

Lump sum issuance of shares
Bertram Corp. is authorized to issue 15,000 no par value common shares and 5,000 no par value preferred shares. On January 16, 2020, the corporation sold 50 common shares and 75 preferred shares for a lump sum of $ 9,000. The common were selling at $ 50 and the preferred at $ 100.
Instructions
Using the relative fair value method, prepare the entry to record the sale for cash. Show calculations.

Analyze and adjust budgets for service-oriented entities.

Understand the principles of budgeting in healthcare and service industries.

Learn how to prepare a planning budget based on projected activity levels.

Learn how to prepare a flexible budget based on actual activity levels.

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Bank Representative

An employee of a bank who assists customers with their accounts, loans, and other financial products and services.

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A characteristic of physical traits that through blending of multiple features results in a lack of distinctive characteristics, often correlated with attractiveness.

Attractive Face

Features or qualities of a face that are aesthetically pleasing and evoke physical or emotional attraction in others.

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