Question
Martex Inc. has 560,000 shares outstanding. Information on their issuance is as follows: Date Issued # shares Price Proceeds January, 2018 400,000 $16.00 $6,400,000 June,
Martex Inc. has 560,000 shares outstanding. Information on their issuance is as follows:
Date Issued # shares Price Proceeds
January, 2018 400,000 $16.00 $6,400,000
June, 2019 160,000 18.00 2,880,000
Totals 560,000 $9,280,000
Joan Fox acquired 10,000 shares of the 2018 issue and 5,000 shares of the 2019 issue.
REQUIRED: Determine the adjusted cost base per share, as well as the total PUC of Joans shares.
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Audit Planning A Risk Based Approach
Authors: K. H. Spencer Pickett
1st Edition
047169052X, 978-0471690528
