92. Ashe Company was organized on January 1, 2013 with authorized capital of 100,000 shares of P200 par value. *
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- "On January 1, 2020, ABC Company was established as a public shareholding company. ABC Company authorizes 12,000,000 shares of common stock. A par value of JD 1 per share. ABC Company offering for subscription 10,000,000 shares. The number of subscribed shares is 9,500,000 shares at the end date of subscription, the authorized capital of ABC Public Shareholding Company is" "2,500,000" "9,500,000" "12,000,000" "10.000.000" Moving to another question will save this response. « > 1134 AM arch 37°C Haze 9/1/2021 DELL F12 Priscr Insert Delete F8 F9 F4 F6 Num Lock & Backspace 8 TY G Y K Enter B Y N T M Alt Ctri51. A Company was incorporated on January 1, 2003, with the following authorized capitalization: 200,000 shares of common stock, no par, stated value P100 per share 200,000 shares of 10% cumulative preferred stock, par value P50 per share. During 2003 Baby Jean issued 150,000 shares of common stock for a total of P18,000,000 and 50,000 shares of preferred stock at P60 per share. In addition, on December 15, 2003, subscriptions for 20,000 shares of preferred stock were taken at a purchase price of P100. These subscribed shares were paid for on January 2, 2004. Net income for 2003 was P5,000,000. What should be reported as total contributed capital on its December 31, 2003 balance sheet?3. Tania Company's stockholders' equity section of its December 31, 2019 balance sheet was as follows: • Common stock authorized 100,000 shares; issued 60,000 shares, P100 par, P6,000,000 • Additional paid-in capital, P3,000,000 • Retained earnings, P4,000,000 • Treasury stock, 10,000 shares at cost, P900,000 During 2020 Tania reissued 3,000 shares of the treasury stock at P120 per share and the remaining were retired. The net income for the year is P455,700. The retirement of treasury shares has resulted in a share premium of how much?
- Sh.27. On January 1, 2023, Bre-x Inc. had 600,000 common shares outstanding. On March 1, the corporation issued 60,000 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 12% stock dividend on its common shares. On October 1, the corporation repurchased on the market 20,000 of its own outstanding common shares to make them available for issuances related to its key executives' outstanding stock options. Required: a. Calculate the weighted average number of shares outstanding as at December 31, 2023. Round to the nearest share. b. Assume that Bre-X Inc. had a 1-for-10 reverse stock split instead of a 10% stock dividend on July 1, 2023. Calculate the weighted average number of shares outstanding as at December 31, 2023. Round to the nearest share.A company was formed on 1 March 2018 with an authorized capital of OMR 5 million divided into common stock of OMR1 each. The company came up with an Initial Public Offer IPO by issuing 2 million equity shares at OMR 1 each. The amount of Share capital account to be shown on the balance sheet at the end of the year 31st December 2018 assuming that IPO is under subscribed by the public was 1,800,000 as on 31st December 2018. a. The IPO should be cancelled as per Oman Commercial Companies Law b. OMR200,000 c. OMR2,000,000 d. OMR1,800,000\\13. Arnold Company was organized on January 1, 2017. After 3 years of profitable operations, the equity section of Arnold’s balance sheet on December 31, 2019 sheet was as follows: • Common stock P50 par, 500,000 shares authorized, 200,000 shares issued and outstanding, P10,000,000 • Additional paid-in capital, P5,000,000 • Retained earnings, P6,000,000 On January 15, 2020, Arnold Company reacquired 20,000 shares of common stock at P100 per share. The treasury stock is recorded at cost. On February 11, 2020, the company issued a 20% stock dividend. The market value of the common stock is P100 on this date. On July 1, 2020, the company declared a P20 cash dividend per share payable on August 1, 2020. On December 31, 2020, all treasury stock was sold at P120 per share and the company reported a net income of P5,000,000 for the year ended December 31, 2020. What should be the balance of retained earnings on December 31, 2020?
- 14. PQ Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2015, the first year of the corporation’s existence: Sold 5,000 ordinary shares for P18 per share. Issued 5,000 ordinary shares in exchange for a patent valued at P100,000. At the end of the PQ’s first year, total contributed capital amounted to?NoneG.Swifty Corporation was organized on January 1, 2020, with authorized capital of 1060000 shares of $10 par value common stock. During 2020, Swifty issued 55000 shares at $11 per share, purchased 5500 shares of treasury stock at $12 per share, and sold 5500 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020? O $55000 O $0 O $66000 O $11000
- 18. The stockholders’ equity account balances of Image Corporation as of December 31, 2020 are as follows: Ordinary shares, P100 par; 50,000 shares authorized; 25,000 shares issued, P2,500,000 Share premium, P1,500,000 Accumulated profits, P1,000,000 Treasury shares, 2,000 shares at cost, P360,000 On January 10, 2021 Image reacquired additional 2,000 shares from stockholders at P225 On February 5, 2021, Image sold 2,500 treasury shares on the open market at P200 per share. On March 15, 2021, Image retired 1,000 treasury shares of the remaining treasury shares, the entry to record the retirement shall include: Group of answer choices Debit to accumulated profits of P60,000 Debit to accumulated profits of P37,500 Debit to accumulated profits of P27,500 Debit to accumulated profits of P10,000Please don't provide answer in image format thank you.Question(C) 1. On Septensber 1, 2015, Valdez Company reacquired 12,000 shares of ths$10par value ondinary shares for$15per share. Valdez uses the cost method to account for treasury shares. The joumal entry to record the reacquisition of the shares should debit a. Treasury Shares for$120,000. b. Share Capital-Ordinary for$120,000. c. Share Capital-Ordinary for$120,000and Share Premium-Ordinary for$60,000. 2. Long Co, issued 100,000 shares of$10par ordinary shares for$1,200,000. Long aequired 8,000 shares of its own shares at 515 per share. Three months later Long sold 4,000 of these shares at$19per share. If the cost method is used to record treasury shares transactions, to record the sale of the 4,000 treasury shares, Long should credit a. Treasury Shares for$76,000. b. Treasury Shares for$40,000and Share Premium-Treasury for$36,000. c. Treasury Shares for$60,000and Share Premium-Treasury Stock for$16,000. d. Treasury Shares for$60,000and Share Premium-Ordinary for$16,0003. Glavine…