Panton, Inc. acquired 18,000 shares of Glotfelty Corp. several years ago. At the present time, Glotfelty is reporting the following stockholders' equity:
Glotfelty issues 5,000 shares of previously unissued stock to the public for $27 per share. None of this stock is purchased by Panton.
Prepare Panton's journal entry to recognize the impact of this transaction.
Definitions:
Self-Esteem
A measure of how much you value and respect yourself.
Immune System
The complex network of cells, tissues, and organs that work together to defend the body against infection, disease, and foreign substances.
Loneliness
The painful feeling of wanting more human contact or connection than you have.
Sociable
Characterized by a willingness or readiness to engage with others in social interactions, often implying friendliness or approachability.
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