Question
McDonald's Corporation issued 10,000 shares of $50 par value common stock at $70 per share. Calculate the total amount of proceeds received from this stock
ยทMcDonald's Corporation issued 10,000 shares of $50 par value common stock at $70 per share. Calculate the total amount of proceeds received from this stock issuance and the journal entry to record the transaction. Additionally, if McDonald's Corporation had a retained earnings balance of $5,000,000 before the issuance, how would this issuance affect the company's total equity?
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
4th edition
1259578542, 978-1259578540
