Andoy Corp. was organized on January 1, 2017 with authorized capital of 100,000 ordinary shares, P20 par value. During 2014, Andoy Co. had the following transactions affecting the shareholders’ equity.  Jan 10 - Issued 25,000 shares at P22 per share. Mar 25 - Issued 1,000 shares for legal service when the fair value was P24 per share. Sep 30 - Issued 5,000 shares for a piece of equipment when the value was P26 per shar

Q: Cool Company has decided to take their company public on January 1, 2014. Cool company had 1,000…

A: Re-issuance of Treasury stock :              As treasury stock in the balance sheet represents the…

Q: A&K Corporation was established in 2016. A&K has authorized 50,000 shares of common stock, par value…

A: Issue of stock is one of the important source of finance being used in business. It can be common…

Q: On December 31, 2015, Raja Corporation's balance sheet reported the following: The following…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: On December 29, 2009, Bay Company was registered at the Securities and Exchange Commission with…

A: Shareholders equity is the total amount attributable to the shareholders of the company. It includes…

Q: On January 1, 2015, Visaries Corporation was established. On that day, it issued 200,000 shares at a…

A: Common stock par value = $ 10 Issued price = $ 15 Paid in capital in excess of par common stock =…

Q: Cambridge Corp. has a single class of shares. As its year ended December 31, 2015, the company had…

A: The journal entry can be defined as the process of recording business transactions in the accounting…

Q: mares of stock for land appraised at $52,000. The stock was actively traded on a national stock…

A: When stock was issued for land , the fair value of stock is considered as the value of the land…

Q: In late 2015, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of…

A: 1. Prepare journal entries to record the given transactions.Record the issuance of common shares.

Q: Kakhie Company issued share capital of 20,000 shares with USD5 par at USD10 per share. On January 1,…

A: The calculation is given below

Q: Sakura Co. was established on January 1, 2011. On January 1, 2011, Sakura issued 100, 000 common…

A: Rules for EntriesPersonal Account: Related to Person or Firm.Receiver will be debited and Giver will…

Q: Kenneth Company was organized on January 1, 2015 at which date it issued 100,000 common stock of P10…

A: Introduction: Shareholders' equity which is also known as net worth of the company, is the owners…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Debacle Company was organized on January 1, 2012. On that date, it issued 200,000 shares with P10…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Roberto Designers was organized on January 1, 2018. The firm was authorized to issue 200,000 shares…

A: Stockholders' equity refers to the amount which belongs to the owners of the business. This includes…

Q: Velor Inc. was authorized to issue 400,000 $2.00 preferred shares and 650,000 common shares. During…

A: Preferred stock issued in excess of par value of $ 2 is credited with the APIC- Preferred stock for…

Q: ABC Corporation was organized on January 3, 2007, with authorized capital of 100,000 shares of P10…

A: January 7 :- Common stock = 40,000 x 10 = 400,000                 Additional paid in capital =…

Q: On December 31, 2017, Alexander Company had $1,200,000 of short-term debt in the form of notes…

A: Liability: Liability is an agreement made by a company to pay a certain amount for the goods or…

Q: Under the cost method of accounting for treasury stock, the reissuance resulted in a credit to  a.…

A: The answers for the multiple choice questions and relevant explanation are presented hereunder : The…

Q: Elmer's Incorporated has the following stock outstanding on Dec. 31, 2013: Ordinary Shares, P100…

A: The company can issue shares by 3 ways. 1. Sale of Stock for Cash 2. Sale of Stock on Account 3.…

Q: Marigold Corporation is authorized to issue 46,000 shares of $5 par value common stock. During 2025,…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: Karima Corporation was formed on January 2, 2014, with 100,000 authorized shares of USD100 par value…

A: Shares issued means the number of shares sold or exchanged with public for money or money's worth.…

Q: Barbie Co. was organized on January 2, 2015, with 500,000 authorized shares of P10 par value common…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: hares and 40,000, 5% cumulative, nonparticipating, preference shares were issued. The ordinary…

A: Dividend is the value of return received on shares by the shareholders from the company. 3 for 2…

Q: Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53…

A: To get the balance of paid in capital, let us first put in the journal entries.The journal entries…

Q: Poodle Corporation was organized on January 3, 2024. The firm was authorized to issue 96,000 shares…

A: The objective of the question is to calculate the total paid-in capital at the end of 2024 for…

Q: Barbie Corporation was formed on April 1, 2020. The general ledger accounts for the Barbie…

A: Share capital is the owner's contribution to the company for financing the assets. Share capital can…

Q: equirements 1. Prepare Envoi's income statement for the year ended December 31 , 2016. Use the…

A:

Q: In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: WHAT IS THE LEGAL CAPITAL? The Century Philippines Corporation has been authorized to issue 100,000…

A: Legal Capital: It is capital of the shareholder's equity which is not legally allowed to be…

Q: Sarasota Corp. was organized on January 1, 2017. It is authorized to issue 20,800 shares of 5%, $52…

A: Stock account is always credited with the par value of the shares and value in excess of par will be…

Q: Indigo Inc. uses a calendar year for financial reporting. The company is authorized to issue…

A: Earnings per share The per share value can be determined by using the profitability ratio called…

Q: Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53…

A: Preferred stock : Preferred stock is issued to preferred shareholders with a fixed amount of…

Q: Blue Ltd. reported $4,886,625 of net income for the fiscal year ended December 31, 2021. The company…

A: Earnings per share is a metric used to measure the return earned by the shareholders for each share…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…

A: The purchase of own shares is known as treasury stock.

Q: During 2016, Goodfellow has the following transactions involving its common and preferred stock.…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: The Sirap Corp. issued 20000 shares of Common Stock $1 Par at $25 on 1/3/17.      The following…

A: The journal entries are prepared to record the transactions on regular basis. The additional paid in…

Q: d 25,000 shares at P22 per share. d 1,000 shares for legal service when the d 5,000 shares for a…

A: Share premium refers to the sum value of money received by a company over and above the actual par…

Q: Pico Company was organized on January 1, 2015 with authorized capital of 100,000 shar of P200 par…

A: The share premium is the amount received in excess of par value of shares issued.

Q: Cool Company has decided to take their company public on January 1, 2014. Cool company had 1,000…

A: When company issues shares to public, it can do so at par value, more than par value or less than…

Q: A Ltd. has an authorised capital of $10,00,000 divided into 1,00,000 equity shares of $10 each. It…

A: ARTICULARS NOTE NO. DETAILS A EQUITY AND LIABILITIES 1. Shareholders’ funds (a) Share…

Q: Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value…

A: Common stock is a type of security that represents ownership in a corporation. When a corporation…

Q: 11. Cool Company has decided to take their company public on January 1, 2014. Cool company had 1,000…

A: Formula used: EPS = Net IncomeNo. of shares

Q: Mimi Corporation started business in 2007 by issuing 200,000 shares of P20 par common stock for P36…

A: Amount of paid-in capital from treasury stock = ( Market Price - Purchase Price ) x Number of shares

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.