Panton, Inc Glotfelty Issues 5,000 Shares of Previously Unissued Stock to the Ago

question 73

Essay

Panton, Inc. acquired 18,000 shares of Glotfelty Corp. several years ago. At the present time, Glotfelty is reporting the following stockholders' equity: $\begin{array}{|l|r|}\hline \text { Common stock, } \$ 10 \text { par value }(20,000 \text { shares outstanding) } & \$ 200,000 \\\hline \text { Additional paid in capital } & 100,000 \\\hline \text { Retained earnings } & \underline{300,000} \\\hline & \underline{\$ 600,000} \\\hline\end{array}$ Glotfelty issues 5,000 shares of previously unissued stock to the public for $40 per share. None of this stock is purchased by Panton.
Describe how this transaction would affect Panton's books.

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Definitions:

Binds DNA

Refers to proteins or molecules that attach to DNA, influencing its function and regulation.

Calcium Ions

Positively charged atoms of calcium, playing vital roles in various physiological processes, including muscle contraction and neurotransmission.

Calmodulin

A calcium-binding messenger protein present in all eukaryotic cells, involved in various cellular processes by interacting with other proteins.

Phospholipid Second Messengers

Molecules derived from phospholipids that act within cells to transmit signals from a variety of receptors to their target molecules.