Lump Sum Issuance of Shares Bertram Corp

question 138

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, 2014, the corporation sold 50 common shares and 75 preferred shares for a lump sum of $18,000.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.

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Definitions:

Declarative Memory

A type of long-term memory that involves the capacity to recall factual information, such as events, facts, and concepts.

Episodic Memory

A type of long-term memory that involves the recollection of specific events, situations, and experiences, including the location and time they occurred.

Retrograde Amnesia

A loss of memory for events that occurred before a specific incident, often due to brain injury.

Neurogenesis

The process of generating new neurons in the brain, contributing to brain plasticity and cognitive function.