Concept explainers
Stock issued for cash; Wright Medical Group
• LO18–4
Real World Financials
The following is a news item reported by Reuters:
WASHINGTON, Jan 29 (Reuters)—Wright Medical Group, a maker of reconstructive implants for knees and hips, on Tuesday filed to sell 3 million shares of common stock.
In a filing with the U.S. Securities and Exchange Commission, it said it plans to use the proceeds from the offering for general corporate purposes,
Wright shares closed at $17.15 on Nasdaq.
The common stock of Wright Medical Group has a par of $0.01 per share.
Required:
Prepare the
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Intermediate Accounting, 10 Ed
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