Answer:
Explanation:
The journal entries are shown below:
1. Cash A/c Dr $24,000 (600 shares × $40)
To Common Stock $600 (600 shares × $1)
To Additional Paid-in Capital in excess of par - Common Stock $23,400
(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)
2. Cash A/c Dr $4,400 (100 shares × $44)
To Common Stock $100 (100 shares × $1)
To Additional Paid-in Capital in excess of par - Common Stock $4,300
(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)
A market for existing financial securities that are currently traded among investors is called the Secondary market.
A secondary market is a market for the purchase and sale of existing securities or other assets. They differ from primary markets, where the assets were created. Generally, most investors will only trade on secondary markets.
Transactions in the secondary market are undertaken with other investors rather than the security issuer. The procedure is comparable to buying products from the classifieds or a used car from a dealership rather than the manufacturer.
Stocks and bonds purchased in a retirement plan or through a brokerage account, for example, are traded on secondary markets.
Assume you have two portfolios: one through an employee stock ownership plan and the other through a discount brokerage. The main market transaction occurs when you purchase stock directly from the corporation, like in the first plan. It is a secondary market transaction when you buy in a discount brokerage account through stock exchanges.
Learn more about Secondary Markets here:
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Answer:
Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity.”
Explanation:
Answer:
a. introduction
Explanation:
of a proposal begins with a capsule statement.
After recording the transaction in journal you must record it on General Ledger.
