Please complete 2-5
BEACON LUMBER, MONTH OF NOVEMBER entrepreneur (investor #1) created the Beacon and purchased 20,000 shares of its commomber coporation and The On this day an will operate a lumberyard and buildin Nov ness willess in prepare sized city not far from your school. The businesrials buooo inancial statements on a monthly basis in the day two other investors purchase shares. Investor #2 Nov 4 Later shares for S2,000and investor #3 purchases 3,000 shares f or $3,000 Now 2,000 Later that afternoon the lawyer who performed the incorporati bill for $500 fee and $37.18 in expenses on submitsa Nov N6 The investors (and, at present, the sole owners) of the Beacon Lumber Corporation elect three prominent businesspersons to the com Directors. The board will meet once every quarter to review set overall policy for the company, but it will not be involved in the ns and to day ons The company's founder is appointed CEO of the corporation. The board appoints a clerk-secretary Nov I5. An investor supplies 20 acres of land in exchange for stock and a mort An investor supplies 2 note. The land has been appraised at $70,000 and the investor receives 15.000 shares of stock and a note with a face value of $55,000. The note requires Nov 15 Beacon to pay interest at the rate of 10% per year and the principal (face amount) is due in 5 years Nov 15 Investor #2 sells 500 shares of Beacon stock to a younger sister for S500. Nov 17 Beacon agrees to rent a trailer which it will use as a temporary office. The rental cost, as determined by AZCO, the lessor, will be $200 per month. AZCO will pro-rate this month's rent, using a Nov18th start date. Beacon pays the rent In the future, rent will be due the first of the month. BEACON LUMBER, MONTH OF NOVEMBER entrepreneur (investor #1) created the Beacon and purchased 20,000 shares of its commomber coporation and The On this day an will operate a lumberyard and buildin Nov ness willess in prepare sized city not far from your school. The businesrials buooo inancial statements on a monthly basis in the day two other investors purchase shares. Investor #2 Nov 4 Later shares for S2,000and investor #3 purchases 3,000 shares f or $3,000 Now 2,000 Later that afternoon the lawyer who performed the incorporati bill for $500 fee and $37.18 in expenses on submitsa Nov N6 The investors (and, at present, the sole owners) of the Beacon Lumber Corporation elect three prominent businesspersons to the com Directors. The board will meet once every quarter to review set overall policy for the company, but it will not be involved in the ns and to day ons The company's founder is appointed CEO of the corporation. The board appoints a clerk-secretary Nov I5. An investor supplies 20 acres of land in exchange for stock and a mort An investor supplies 2 note. The land has been appraised at $70,000 and the investor receives 15.000 shares of stock and a note with a face value of $55,000. The note requires Nov 15 Beacon to pay interest at the rate of 10% per year and the principal (face amount) is due in 5 years Nov 15 Investor #2 sells 500 shares of Beacon stock to a younger sister for S500. Nov 17 Beacon agrees to rent a trailer which it will use as a temporary office. The rental cost, as determined by AZCO, the lessor, will be $200 per month. AZCO will pro-rate this month's rent, using a Nov18th start date. Beacon pays the rent In the future, rent will be due the first of the month
