Glavine Company issues 6,000 shares of its $5 par value common stock having a fair market value of $25 per share and 9,000 shares of its $15 par value preferred stock having a fair market value of $20 per share for a lump sum of $297,000. The proceeds allocated to the common stock are: a. 150,000 b. 162,000 c. 118,800 d. 135,000
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- C&S Corp. issued 66 shares of its $1 par value common stock for $11 per share. Issue costs were $86 What amount would they record as Additional Paid-In Capital-Common Stock? Type your answer.....The shareholder’s equity section of FED, Inc. contains the following:Preference share capital of P100 par, 15,000 shares - P1,500,000Preference share premium - P750,000Ordinary share capital of P20 par, 50,000 shares - P1,000,000Ordinary share premium - P250,000Retained Earnings P800,000 1,000 preference shares was reacquired by the company and retired for P200 per share. How much is the total shareholder’s equity after the retirement?CFAS Company issued 100,000, P50 par value, ordinary shares and 20,000, P100 par value, preference shares for a total consideration of P12,900,000. At this date, the ordinary share was selling for P100 per share and the preference share was selling for P250 per share. What amount of the proceeds should be allocated to share premium preference shares?
- Refer to the following: On December1.20x1, Line Corp recelvud ecoration.of 2 000 shees dfiS P5 par value ordinary shareS from a shareholder On that date, the sk s narket y K was Pper share The stock was or gnaly issued for P25 per share By what anGut wauld B denorcHe lotal stckholders eguly to decrcase? 50,000 20,000 O 70,000AB Co issues 5.000 50c shares for $6.000. Required: What are the amounts for share capital and share premium in the statement of financial position?Venus Company issued 20,000 shares of its P70 par value ordinary shares and 8.000 shares of its P80 par value preference share capital for a total of P1,800.000. At this date, the company's ordinary shares were selling at P80 per share and the preference was selling at P100 per share. (1) What amount of the proceeds should be allocated to the preference shares?*
- A companys share capital consists of 3 million ordinary shares of RO 1 each, issued at a premium of 10%. What is the amount OMR of Share premium to be shown under the Equity section of the Statement of financial position? a. 150,000 b. 3,300,000 c. 3,000,000 d. 300,000Item No. 4 is based on the following information: nysg bns n Luningning Corporation sold for cash 400 preference shares with a par value of P 50 per share at P56 per share. Also, 600 ordinary shares with no par value but with stated value of P 100 per share were sold for P 102 per share. 4. What would be the effect of the transaction on the total Share Premium account? a. PO. C. P 2,400. b. P 1,200. d. P 3,600.The following transactions were taken from BFAR Corporation: Authorized Ordinary share capital of 500,000 shares at P10 par value. • The total Subscriptions of equity shares is 120,000 shares at a subscription price of P15 per share Half of the total subscriptions were fully paid and Share Certificates have been issued. The balance of total subscriptions has P720,000 outstanding receivable. Compute the issued share capital. ● O 720,000 O 1,800,000 O 600,000 O 1,080,000
- Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.The following data were gathered from the annual report of Tom Products: Market price per share ------ P30.00; Number of ordinary shares --------- 10,000; Preferred stock, 5% P100 par ---- P10,000; ordinary equity P120,000 . The book value per share isLeslie company issued 60,000 shares with a par value of 100 in exchange for a land with fair value of 1,600,000 and a building thereon with a fair value of 5,000,000. What amount of share premium will be credited upon issuance of shares?