Module 6 CCC10 & 11

Module 6 CCC10 & 11 - Module 6 CCC 10 & 11...

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Module 6 Allen Brown CCC 10 Interest Expense= 2000x9%x2.5/12=38 Investment Expenses= 2000x9%x9.5/12=143 Interest payable= 2000x9%x7/12=105 Journal Entry for Aug 31 Aug 31 interest expense (105) Interest Payable 105 Journal Entry for Loan Repayment Sept 5 Notes Payable (2000) Interest Payable (143) Interest Expense (7) Cash 2150
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CCC 11 Part 1 (A) 1. Curtis’ Dad and Natalie’s grandmother are interested in investing $5,000 each in the new business venture. Curtis and Natalie are considering issuing them preferred shares. What would be the advantage of issuing them preferred stock instead of common? The biggest advantage of issuing preferred stock over common stock would be that preferred stockholders do not have voting ability. If Natalie’s business gave the investors, Curtis’s Dad and her Grandmother, preferred stock they would collect dividends from the business throughout its operational life but they would not have the ability to weigh in on issues that
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Module 6 CCC10 & 11 - Module 6 CCC 10 & 11...

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