In January 2005, Alan Jackson Inc. doubled the amount of its outstanding stock by selling on the...

Question

In January 2005, Alan Jackson Inc. doubled the amount of its outstanding stock by selling on the market an additional 10,000 shares to finance an expansion of the business. You propose that this information be shown by a footnote on the balance sheet as of December 31, 2004. The president objects, claiming that this sale took place after December 31, 2004, and, therefore, should not be shown. Explain your position.

Robert · Accepted Answer

January 2005, Alan Jackson Inc. doubled the amount of its outstanding stock by 
selling on the market an additional 10,000 shares to finance an expansion of the 
business. You propose that this information be shown by a footnote on the balance 
sheet as of December 31, 2004. The president objects,

In January 2005, Alan Jackson Inc. doubled the amount of its outstanding stock by selling on the market an additional 10,000 shares to finance an expansion of the business. You propose that this...

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