Business, 26.03.2020 00:56 Badbpyz7987

On July 1. Vail Corp. issued rights to shareholders to subscribe to additional mulus 1 its common stock. One right was issued for each share owned. A shareholder could purchase one additional share for 10 rights plus $15 cash. The rights expired on September 30. On July 1, the market price of a share with the right attached was $40, while the market price of one right alone was $2. Vail's equity on June 30 included the following: Common stock, $25 par value, 4,000 shares issued and outstanding $100,000 Additional paid-in capital 60,000 Retained earnings 80,000 By what amount should Vail's retained earnings decrease as a result of issuance of the stock rights on July 1?

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On July 1. Vail Corp. issued rights to shareholders to subscribe to additional mulus 1 its common st...

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