The founder of a company currently holds 12 million of the 15 million shares in that company. She considers an IPO where she sells a mix of primary shares and 2 million of her own secondary shares for $16 per share
If she wants to retain a 70% ownership of the company, how much money can she raise in this IPO?
A) $9 million
B) $12 million
C) $15 million
D) $24 million
Answer: D
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Indicate whether the statement is true or false
Which of the following statements is true?
a. People in leadership are often generous when it comes to giving out praise or recognition according to the textbook. b. Praise costs nothing. c. Most people feel that they have received enough praise in their jobs. d. none of these
During the month, Barrera Manufacturing incurred (not paid) $45,000 in direct labor costs in Department 1, $22,000 direct labor costs in Department 2, and $3500 of indirect labor costs. Which of the following is NOT part of the summary journal entry to record these transactions? Process costing is used.
A) debit to Manufacturing Overhead for $3500 B) debit to Work-in-Process Inventory for $70,500 C) credit to Wages Payable for $70,500 D) debit to Work-in-Process Inventory—Department 1 for $45,000
Which of the following is the best example of an equipment-based service?
A) a tutoring service B) an amusement park C) a religious service D) a dog-walking service E) a car dealership