In January 2015, Janeway Inc. doubled the amount of its outstanding shares by selling an additional 10,000

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In January 2015, Janeway Inc. doubled the amount of its outstanding shares by selling an additional 10,000 shares to finance an expansion of the business. You propose that this information be shown by a footnote to the statement of financial position as of December 31, 2015. The president objects, claiming that this sale took place after December 31, 2015, and, therefore, should not be shown.

Explain your position.

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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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