Question
All information is available via web. Use Tesla's actual financial statements in regards to the questions to have accurate and correct answers. I am unable
All information is available via web. Use Tesla's actual financial statements in regards to the questions to have accurate and correct answers. I am unable to provide the link due to Chegg's policies for putting third-party links in questions but the information is easy to find/access.
1(a) At the end of 2019, what was the total amount of Teslas contributed capital?
1(b) Tesla has an accumulated deficit instead of retained earnings. What caused the accumulated deficit?
1(c) What journal entry would Tesla made to record the common stock that it issued in its May 2019 public offering?
1(d) In August of 2020, Tesla announced a five-for-one-split of the firms common stock. Assume that Tesla decided to change the par value of the firms stock due to the split. What would the firms new par value per share be?
1(e) Now assume that Tesla accounts for the stock split by transferring dollars out of paid-in-capital. What journal entry would the firm make?
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