4. SMC Corp. exchanges a piece of land for 10,000 shares of Nestle Co. ordinary share capital that has a P500 par value. The land has cost SMC Corp. P3,500,000 five years ago, and currently has a fair market value of P6,000,000. What is the total increase in paid capital as result of this exchange? 5. The following is a list of selected account balances taken from the December 31, 2020 general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital Paid in Capital in Excess of Par -Ordinary Share Capital 110,500 Paid in Capital in Excess of Par - Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed Retained Earnings Subscription Receivable -Preference 126,000 6,000 20,500 10,500 Question: What is the total paid in capital for Selecta Corp. at Dec. 31? 6. The following is a list of selected account balances taken from the December 31, 2021 general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital Paid in Capital in Excess of Par -Ordinary Share Capital 110,500 Paid in Capital in Excess of Par - Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed Retained Earnings 126,000 6,000 20,500 Subscription Receivable -Preference 10,500 Compute for total stockholder's equity for Selecta Corp. At December 31, 2021
4. SMC Corp. exchanges a piece of land for 10,000 shares of Nestle Co. ordinary share capital that has a P500 par value. The land has cost SMC Corp. P3,500,000 five years ago, and currently has a fair market value of P6,000,000. What is the total increase in paid capital as result of this exchange? 5. The following is a list of selected account balances taken from the December 31, 2020 general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital Paid in Capital in Excess of Par -Ordinary Share Capital 110,500 Paid in Capital in Excess of Par - Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed Retained Earnings Subscription Receivable -Preference 126,000 6,000 20,500 10,500 Question: What is the total paid in capital for Selecta Corp. at Dec. 31? 6. The following is a list of selected account balances taken from the December 31, 2021 general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital Paid in Capital in Excess of Par -Ordinary Share Capital 110,500 Paid in Capital in Excess of Par - Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed Retained Earnings 126,000 6,000 20,500 Subscription Receivable -Preference 10,500 Compute for total stockholder's equity for Selecta Corp. At December 31, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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Accounting for Corporation
Transcribed Image Text:4. SMC Corp. exchanges a piece of land for 10,000
shares of Nestle Co. ordinary share capital that has
a P500 par value. The land has cost SMC Corp.
P3,500,000 five years ago, and currently has a fair
market value of P6,000,000.
What is the total increase in paid capital as
result of this exchange?
5. The following is a list of selected account balances
taken from the December 31, 2020 general ledger of
Selecta Corp.
Account Payable 50,000
Accounts Receivable 45,500
Ordinary Share Capital
Paid in Capital in Excess of Par -Ordinary Share
Capital 110,500
Paid in Capital in Excess of Par - Preferred Share
Capital 10,250
Preference Share Capital 58,000
Preference Share capital Subscribed
Retained Earnings
126,000
6,000
20,500
Subscription Receivable -Preference
10,500
Question: What is the total paid in capital for
Selecta Corp. at Dec. 31?
6. The following is a list of selected account balances
taken from the December 31, 2021 general ledger of
Selecta Corp.
Account Payable 50,000
Accounts Receivable 45,500
Ordinary Share Capital
Paid in Capital in Excess of Par -Ordinary Share
Capital 110,500
Paid in Capital in Excess of Par - Preferred Share
Capital 10,250
Preference Share Capital 58,000
Preference Share capital Subscribed
Retained Earnings
126,000
6,000
20,500
Subscription Receivable -Preference
10,500
Compute for total stockholder's equity for
Selecta Corp. At December 31, 2021
Transcribed Image Text:1. Pacific Corp. was organized on January 1, 2020 with
authorized capital of P5,000,000 consisting of
20,000 shares at 120 of
par.
1. How much must be paid up upon
subscription to comply with requirement of SEC?
2. Akea Corp., reports this journal entry on May 15,
2020:
Cash
75,000
Ordinary Share Capital 63,000
Paid in Capital in Excess of Par
12,000
The explanation reads. "Issued ordinary share
capital for P50 per share".
What is the par value per share for this
transaction?
3. Akea Corp., reports this journal entry on May 15,
2020:
Cash
75,000
Ordinary Share Capital 63,000
Paid in Capital in Excess of Par
12,000
The explanation reads. "Issued ordinary share
capital for P50 per share".
Compute the no. of shares issued for this
transaction?
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Step 1 Question number 1 Minimum subscription as per SEC
VIEWStep 2 Question number 2 Akea Corporation Calculation of Par value per share
VIEWStep 3 Computation of Number of Shares issued
VIEWStep 4 Total increase in paid-up capital
VIEWStep 5 Question 5 , Calculation of Paid in capital
VIEWStep 6 Question number 6 Total Stakeholders Equity
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