COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par value preference shares for a total of P350,000 cash and an equipment with acquisition cost of P900, 000, book value of P450, 000 and fair value of P500, 000. On that date, the fair value of ordinary shares is P30. How much is allocated to the preference shares? Also, prepare the journal entry to record the issuance of the shares.

Q: On April 1, 2024, Sandhill Company purchased 46,400 common shares in Ecotown Ltd. for $13 per share.…

A: Journal entry is the procedure for initially documenting commercial transactions in the books of…

Q: Jackie Company had the following beginning balances:: Preference Share Capital (P10 par) - 200,000…

A: A company earns the capital it requires through the issue of shares. These shares are mostly equity…

Q: Sheffield Company is authorized to issue 8000 shares of 8%, $100 par value preferred stock and…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: The company issued for P1,200,000 cash, 4,000 shares of P200 par value Preference share and 1,000…

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

Q: What journal entry may result for the following using memorandum entry? * On January 1, 2011, AM…

A: Solution Concept Memorandum entry Memorandum entry is a entry posted the single time and not for its…

Q: . What amount should be debited to the investment account if the rights were not accounted for…

A: Stock rights are the rights which are given by the company to the existing shareholders or the…

Q: At the start of the year, Camille Company had 300,000 issued P100-par ordinary shares and 120,000…

A: Issue of Share Capital One of the main source of fund raised by the company to issue shares into the…

Q: Relay Company is permitted to issue 500,000 ordinary shares of P10 par value. During the first year…

A: Contributed Capital is the total amount contributed by the owners and also includes  shares premium.…

Q: Cblue Company owned 900,000 shares of Flight Company. On December 31, 2004, when the investment had…

A: The share means the smallest unit of the company's ownership. The shares are issued by the company…

Q: On April 1, 2024, Sheridan Company purchased 34,400 common shares in Ecotown Ltd. for $18 per share.…

A: Journalizing is the procedure of documenting commercial transactions in the books of accounts.For…

Q: Lompany was organzed in 2022 with authorized capitalization of 500,000 ordinary shares with PI50 par…

A: Ordinary shares are shares having participating rights. These…

Q: ONE PUNCH CO. is authorized to issue 300,000 of P 20 par value ordinary shares, and 60,000 of…

A: Memorandum entry method - also known as Memo entry. Memorandum entry is not a complete entry, it is…

Q: BC Company declared a 10% share dividend. During declaration, the market price of the entity’s…

A: Formulas: No. of shares issued under stock dividend = No. of shares issued and outstanding x stock…

Q: ABC Company issued 50,000 shares for P100 per share. Par value of the shares is P10. During the…

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

Q: Based on the following information of A & B SAOG calculate the amount of different categories of…

A: Shares are defined as the units in which the total share capital of the corporation is divided. Each…

Q: COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par…

A:

Q: COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par…

A: No of ordinary shares 20,000 @ P25 500000 No of Preference shares 4000@50  200000 Cash 3,50,000…

Q: January 10 Issued share rights to all outstanding ordinary shares. Five rights are needed to…

A: Share Premium Ordinary: Particulars Workings Amount Opening Balance   NIL Right Shares…

Q: A piece of equipment is acquired by an entity by issuing 10,000 shares of 10 par ordinary shares.…

A: Cost of the equipment =List price - Trade discount - Cash discount where, Cash discount = (List…

Q: Clark Corporation purchased 200 shares of its own $1 par value common stock for $20 per share. What…

A: Journal Entry:Journal entry refers to the recoding of the transactions of the business in the…

Q: An entity was organized at the beginning of the current year and was authorized to issue share…

A: The process of recording business transactions in the books of accounts for the first time is known…

Q: May 1, Republic Corporation purchased 400 shares of stock for P114 per share and held it as FVTPL…

A: When an investment is classified as FVTPL financial assets, dividend income is recorded in statement…

Q: Q9: Kato Manufacturing issued 45,000 shares of common stock in exchange for land with a fair market…

A:

Q: 1. If the transaction is accounted for as an acquisition, what is the amount of consideration…

A: As per Bartleby policy, only the first 3 parts of the interlinked questions are answered.…

Q: WW Corp. resells 500 shares of its own common stock for $22 per share. WW had acquired these shares…

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Q: Asuoba Plc has issued 500,000 equity shares at GHc5.80 per share. All shares were subscribed and…

A: Share issue is a process through which an entity offer shares in the exchange of money received from…

Q: Prepare the following ledger accounts to record the transaction in the books of Rose Bhd: (i)…

A: The ledger accounts are prepared as transactions posted from journal.

Q: ABC Co holds 20,000 shares of XYZ Inc as investment in equity security measured at FVOCI. The…

A: The right issues receive would be a part of investment and recognize at fair value at the receiving…

Q: Ogag company issued 1,000 shares of its P5 par value ordinary shares as payment for 1,000 hours of…

A: Par. value of Ordinary Shares :- P5  No. Of Equity Shares issued :- 1000 shares  Market Value of…

Q: Vhat is the journal entry to record issuance of the shares 大

A: When shares are issued at a price exceeding par value of shares, the par value of shares is credited…

Q: TRUE OR FALSE   Fairy Company issued 2,500 ordinary shares with par value of P10 per share for…

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

Q: P. assets nt and equipment 34,600 12,000 46,600 abilities of $0,5 each ings 10,000 25,400 35.400

A:

Q: On January 1, 2023, Japan Company acquired 50,000 shares of David Company ordinary shares for a…

A: Preference shares are those shares whose holders are having priority over the common ordinary shares…

Q: Hepfagon Lfd has 320 million ordinary shares with par value of $0.80 as at December 31, 2019. On…

A: The entry for right  issue is same as if company issues ordinary  shares

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: The dividend for which the client is entitled to receive is calculated on the number of shares held…

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.