Discuss the mayfair corporation was organized

Assignment Help Accounting Basics
Reference no: EM131755344

The Mayfair Corporation was organized on August 1, 2016. The firm is authorized to issue 80,000 shares of no-par-value common stock with a stated value of $20 per share and 20,000 shares of $50 par-value, 12 percent preferred stock.

Aug. 1  

Issued 600 shares of common stock to Justin Baker for $20 a share.

  1  

Issued 450 shares of preferred stock to Austin Moore at par value.

  6  

Issued 300 shares of common stock to Mandie Brown for $24 a share.

  10  

Received a subscription for 800 shares of preferred stock from Lauren Durio for $55 a share, payable in two installments due on the 15th and 31st of August.

  15  

Received payment of stock subscription installment due from Lauren Durio (one-half of the purchase price).

  31  

Received the balance due on the stock subscription of August 10 from Lauren Durio. Issued the stock.

Reference no: EM131755344

Questions Cloud

Discuss the organization wants to design : An organization has a goal to prevent the ordering of inventory quantities in excess of its needs. One individual in the organization wants to design
Explain the chosen marketing concept topic : Explain the chosen marketing concept topic in general terms AND cover how it is implemented in the student's chosen pretend business.
Type of prevention or intervention campaign : Select one of the behavior change theories and explain what type of prevention or intervention campaign and the target population you would use it for.
What type of organization do you thrive in : What type of organization do you thrive in? What employers utilized this type of organization?
Discuss the mayfair corporation was organized : The Mayfair Corporation was organized on August 1, 2016. The firm is authorized to issue 80,000 shares of no-par-value common stock
Research information about current considerations : Research information about current considerations and challenges related to the financial and budgetary systems in health care organizations.
Policy perspective and interventions : Provide a 1-2-page outline on a global social problem that is currently impacting our world and strategies of change that can advance social and economic.
Provide a brief analysis of the industry : Provide a brief analysis of the industry in which the company is working similar to those we have completed in class and that you did for your midterm papers.
Discuss the procedure was without complications : The procedure was without complications, and the patient was taken to the recovery room in stable condition

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd