During 2018, Goodfellow has the following transactions involving its common and preferred stock: a. Issued 15,000 shares
Question:
During 2018, Goodfellow has the following transactions involving its common and preferred stock:
During 2019, Goodfellow issued 4,000 shares of $100 par preferred stock at $155 a share. Each share of stock has a warrant attached to it that allows the holder to purchase one share of $5 par value common stock at $50. Shortly after the preferred stock was issued, the stock sold for $150 ex-rights and the warrants sold for $10 each.
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Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen