Homework Answers
f) ORDINARY SHARES
CAP SAP
ordinary shares(given) $530000 $470000
new issue $600000 (15000 shares*$40)
TOTAL $1130000 $470000
d) PATENTED TECHNOLOGY
equipment $270000
g) LIABILITIES CAP SAP
liabilities (given) $600000 $410000
issue debt $300000
total $900000 $410000
a)PROFIT CAP SAP
revenue (given) $900000 $300000
expenses (given) $660000 $200000
brokerage charges(expenses) $30000
stock issuance cost(expenses) $40000
PROFIT $170000 $100000
b) RETAINED EARNINGS CAP SAP
retained earnings 1/1/year5 $800000 $200000
profit $170000 $100000
dividends $90000
retained earnings12/31/year5 $1060000 $300000
c) EQUIPMENT
value of equipment is shown on cost or market value whichever is more
as per question it is given cost of equipment is $600000 (SAP)
for market value it is given that $710000
the value of equipment will be $710000.
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