In 2019, Cassandra Company issued for P110 per share, 15,000 convertible preference shares of P100 par value. One preference share may be converted into three ordinary shares of P25 par value at the option of the preference shareholder. On December 31, 2020, all of the preference shares were converted into ordinary shares. The market value of the ordinary share at the conversion date was P40. What amount should be credited to ordinary share capital on December 31, 2020?

Q: TJH Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10…

A: Formula: Share capital = Number of shares issued x Issue price.

Q: 20,000 shares of cumulative preference share capital with a P10 per share dividend. Each preference…

A: The earnings per share is calculated as net income divided by average number of shares issued and…

Q: n 30 June 2019, Vivo Berhad granted one of its directors the right to choose either 160,000 shares…

A: A journal entry is an act of recording business transactions in the books of accounts. The debits…

Q: on June 30 and December 31. Each $1,000 debenture can be converted into 4 common shares of Cullumber…

A: Journal entries refer to the process of collecting and recording all the transactions of a company…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Right Shares - It is refer to the issuance of those shares which was offered by the company to their…

Q: On December 18, 2020, UNO Corporation issued 5,250 ordinary shares, par P30 for P58 per share. At…

A: Paid in capital in excess of par = Issue price per share - Par value per share = P58 per share - P30…

Q: In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible…

A: Conversion of Convertible Preferences Shares to Common Shares According to the accounting procedures…

Q: Affleck Company has the following types of outstanding shares at December 31, 2020: ·…

A: Dividend on 12% Preference Share = P4,000,000 x 12% = P480,000 Dividend on 10% Preference Share =…

Q: Special Plc has an issued share capital at 1 January 2019 of 1,000,000 ordinary shares of 20p each…

A: Diluted Earning per share:   It is the earning per share when the exercized all available…

Q: During 2019, Bradley Corporation issued for $110 per share, 5,000 shares of $100 par value…

A: There are two type of stock or shares that is being issued by the company. One is preference shares…

Q: Delta NV has share capital of $l m in shares of $0.25 each. At 31 May 2019 shares had a market value…

A: Right Issue :— It is the new shares issued to existing equity shareholders at lower price.…

Q: Red Hat Company began operations in January 2018 and reported the following results of operations…

A: Book value per common stock = (Total stockholder's equity-(liquidation value of preferred stock+…

Q: On March 1, 2019, Mall Co. issued 60,000, P50 par value, ordinary shares and 20,000, P100 par value,…

A: Here in this question, we are required to determine how much proceeds should be allocated to…

Q: In 2021, XYZ Corporation, acquired 3,000 shares of its P20 par value ordinary share capital at P72…

A: Treasury stocks are reacquired shares by the company. These treasury shares can be the issued in…

Q: In 2020, ION Corporation issued 50,000 shares of P10 par value for P100 per share. In 2021, the…

A: Reacquisition of shares means when shares of the company are being repurchased or reacquired by the…

Q: Koreans Ltd owned 300,000 of Marley Ltd shares. On 31 December 2019, when Koreans' account…

A: The shareholders' equity is reduced by canceling shares and repurchasing shares called buybacks.…

Q: On January 1, 2020, Riverbed Corporation issued $3,600,000 of 10-year, 8% convertible debentures at…

A: Journal Entries: No. Date Account Titles and Explanation Debit ($) Credit ($) (a)…

Q: In 2020, Eklund, Inc., issued for $103 per share, 90,000 shares of $100 par value convertible…

A: Convertible preference shares are preference shares that have the opportunity to be converted into a…

Q: During 2020, Empresas ABC issued 4,000 preferred shares with a par value of $ 10 to $ 11 each. Each…

A: Compute total number of common shares converted from preferred share options as shown below:

Q: In 2021, XCF Co. issued 8,513,000 shares of $50 par value, convertible preferred stock for $54. Each…

A: For accounting purposes, the convertible preferred stock when converted to common stock, then…

Q: NEED ASAP. Solve correctly and show your computations. In 2020, ABC Corporation issued 50,000…

A: Treasury stock is the stock that the company buys from its existing shareholders.

Q: During 2019, Honeymooners Companies issued 4,000 preferred shares with par value of $ 1 to $ 11…

A: Given Preference share ( $1 par value ) issued @ $11 each 4000 Preference share ( $1 par value )…

Q: On February 1,2020, Neversaynever Corporation declared a bonus issue entitling its shareholders to…

A: Bonus shares are the shares which are issued to the existing shareholders free of charge. These are…

Q: In 2024, Blossom, Inc. issued 91000 shares of $100 par value convertible preferred stock for $102…

A: Convertible preference shares are preference shares that have the opportunity to be converted into a…

Q: on March 1, 2021, Riza Corp. Issued 1,000 shares of its P20 par value ordinary share and 2,000…

A: A preference share that is issued on the terms that it is liable to be converted to an agreed number…

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.