Journalizing sales transactions-periodic inventory system Journalize the following sales transactions for Straight Shot Archery
using the perodic inventory system. Explanations are not required. The company estimates sales returns and allowances at the end of each month. Sold $6,500 of equipment on account, credit terms are 1/10, n/30. Straight Shot received payment from the customer on the amount due from August 1, less the discount. Sold $3,100 of equipment on account, credit terms are n/45, FOB destination Aug. 1 8 15 15 Straight Shot paid $90 on freight out 20 Straight Shot negotiated a $500 allowance on the goods sold on August 15. Received payment from the customer on the amount due from August 15, less the allowance 24 FESB-31 Jou arnalizing purchase and sales transactions-perindic imento y systenm
1 answer:
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Answer:
Price of stock after right issue = $22.81
Explanation:
given data
market capitalization = $500 million
share outstanding = 20 million
new share at a price = $1.00
to find out
What will the price of a share be after the SEO
solution
we get first current stock price that is express as
current stock price = .....................1
current stock price =
current stock price = $25
and
every ten rights to purchase a new share at a price of $1.00
so number of right company can issue =
number of right company can issue = 2 million
so
Total Fund raise through right issue = 2 million × $1
Total Fund raise through right issue = $2 million
and
Total value of market capitalization after right issue = $500 + $2
Total value of market capitalization after right issue = $502 million
and
Total number of share outstanding after right issue = 20 million + 2 million
Total number of share outstanding after right issue = 22 million
so
Price of stock after right issue will be =
Price of stock after right issue = $22.81