How much should the legal services be valued? Please explain the answer.
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[Accounting for Corporation]
Karima Corporation issued 2, 000 shares for legal services with a fair value of USD500, 000 on March 22. On this date, the shares are trading at a market value of USD150 per share. How much should the legal services be valued? Please explain the answer.
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- Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 510 shares of the company's own common stock at $31 cash per share; the stock is now held in treasury. July 15 Issued 155 of the shares purchased on February 1 for $41 cash per share. Sept. 1 Issued 115 more of the shares purchased on February 1 for $26 cash per share. 3. What impact does the purchase of treasury stock have on dividends paid? Dividends paid on treasury stock.Therefore, the total amount of paid is hen treasury stock is purchased.Pearson Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 have exceeded expectations—profit before tax is $14 293 618 million, and income tax expense is $2 829 610 million. As of 30 June 2022, there were 14 939 730 million ordinary shares on issue. On 11 May 2023, 5 394 902 million further ordinary shares were issued at a price of $2.99—paid to $2.40. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price. Required: Calculate the basic EPS for Pearson Ltd for the year ending 30 June 2023.i need the answer quickly
- 3) A company entirely financed with equity has 1,800,000 shares outstanding and decides to issue new shares with subscription rights. The price of shares before the issuance was 42 euro, and the price at which the shares are issued is 38 euro. If the price after the share issuance is going to be 40 euro, determine the number of subscription rights that a shareholder needs to buy one new share in the issuance with subscription rights.Thank you!Hi, Can you assist with questions attached, thanks much.
- Cc. 206.During the incorporation of J Inc., it issued 1,000 shares at Php205/share, par value is at Php180/share Stock issue costs amounted to Php30,000 was paid in the process. Also, the Inc. issued 500 shares to attorneys for services in securing the corporate charter and for preliminary legal cost of organizing the corporation with the fair value of the 100,000 for the service. What is the journal entry of the following (a) Stock issuance (b) Stock Issue Cost (c) Organizational costCool Company has decided to take their company public on January 1, 2014. Cool company had 1,000 shares authorized. The following transactions occurred. a.) Jean grey issues 5,000 shares for $15 per share during their IPO on January 1, 2014. each share has a par value of $5. Record the journal entry for this transaction. Please label debits and credits and include classification of each account. b.) On January 1, 2015, Cool company bought back 2,000 shares from the open market at a price of $25 per share. Record the journal entry for this share repurchase. Label debits and credits and include classification of each account.
- Alanae Inc issues 500 common shares to the organizers of its corporation to pay for their services valued at $5,000. What is included in the journal entry to record this transaction? O a. O b. C. O d. A debit to an asset account A credit to an expense account A credit to a liability account A credit to an equity accountExcelGo Bhd is a construction and property development company listed on the Main Board ofBursa Malaysia. The company operates in central area of Penang. The company closes its account on every 31 December. The following information is related to the equity and debt investments of ExcelGo Bhd. i. On 1 March 2021, the company acquired: (i) 50,000 shares of Petaling Bhd at RM2.00 per share. Transaction cost incurred was RM3,500. ExcelGo Bhd intends to trade shares of Petaling Bhd in early 2022 to take advantage of the changes in the share prices. (ii) 100,000 shares of Kenanga Bhd at RM2.50 per share. Transaction cost incurred was RM5,000. ExcelGo Bhd intends to establish these shares as a non-trading investment. ii. On 1 July 2021, the company purchased RM3,000,000 of 12% bonds for RM3,275,000. The bonds provide the bondholders with a yield of 10% market rate. The interest is paid every 1 July and 1 January. The bonds have been classified as…Hope you could help me with this Accounting problem. Thanks in advance! <3
