On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share capital and 2,000 shares of its P10 par preference share capital for a lump sum of P40,000. At this date, ordinary share is selling for P18 per share and the preference share for P13.50 per share. How much is allocated to preference shares? Your anSwer
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How much is allocated to
![On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10
2 points
par ordinary share capital and 2,000 shares of its P10 par preference
share capital for a lump sum of P40,000. At this date, ordinary share is
selling for P18 per share and the preference share for P13.50 per share.
How much is allocated to preference shares?
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- Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?On March 1, 2019, Mall Co. issued 60,000, P50 par value, ordinary shares and 20,000, P100 par value, preference shares for a total consideration of P7,500,000. At this date, the ordinary share was selling for P100 per share and the preference share was selling for P150 per share. What amount of the proceeds should be allocated to the preference shares?Pupil, Inc. prepares this journal entry on June 30, 2019. Issued ordinary share capital for P140/share. DR Cash P70,000 CR Ordinary share capital P65,000 CR Ordinary share premium P5,000. How many shares were issued? Using data above, what is the par value per share for this share capital?
- 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?In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible Preference share. One share of Preference share may be converted into three shares of P 25 par Ordinary share at the option of the Preference shareholder. On December 31, 2019, all of the Preference shares were converted into Ordinary shares. The market value of the Ordinary share at the conversion date was P 40 per share. How many shares of Ordinary share capital were issued at the conversion date?Using data , in the preparing the journal entry for this transaction, is there an indicated gain or an indicated loss?Using data , how much is the indicated gain (loss)? If the answer is an indicated loss, put a parenthesis.Using data, in the preparing the journal entry for this transaction, how much will be credited to Ordinary Share Capital?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? a. P1,800,000 b. P1,500,000 c. P1,125,000 d. P1,650,000
- Amaya Company offered existing shareholders a rights issue of one for 5 shares at a price ofP6 per share to be exercised on April 1, 2020. The market value of share was P12 on thatdate.On January 1, 2019, there are 810,000 ordinary shares outstanding.The entity reported net income P2,250,000 for 2019 and P3,500,000 for 2020.Required: Compute the basic earnings per share for 2019 and 2020.In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible Preference share. One share of Preference share may be converted into three shares of P 25 par Ordinary share at the option of the Preference shareholder. On December 31, 2019, all of the Preference shares were converted into Ordinary shares. The market value of the Ordinary share at the conversion date was P 40 per share. a. How many shares of Ordinary share capital were issued at the conversion date? * b. in the preparing the journal entry for this transaction, is there an indicated gain or an indicated loss? c. how much is the indicated gain (loss)? If your answer is an indicated loss, put a parenthesis. * d. in the preparing the journal entry for this transaction, how much will be credited to Ordinary Share Capital? *On June 30, 2019, Haiti Company has 200,000 shares of P10 par ordinary share outstanding and the market price of the share is P12 per share. On the same date, the company declared a 1 for 2 share split. Immediately before the split, the total share premium was P900,000. What should be the balance in Haiti’s Share Premium account after the share split is effected?
- At December 31, 2019 and 2020, New Corporation had outstanding 2,000 shares of P 100 par 6% cumulative and non participating Preference Share Capital and 10,000 shares of P10 par value Ordinary Share Capital. At December 31, 2019, dividends in arrears on the PS were P6,000. Cash dividends declared in 2020 totaled P22,000. How much is the total dividend allocated to Preference Share Capital?At December 31, 2019 and 2020, New Corporation had outstanding 2,000 shares of P 100 par 6% cumulative and non participating Preference Share Capital and 10,000 shares of P10 par value Ordinary Share Capital. At December 31, 2019, dividends in arrears on the PS were P6,000. Cash dividends declared in 2020 totaled P22,000. How much is the total dividend allocated to Preference Share Capital? how much is the dividends per share for the Preference Share Capital? how much is the total dividend allocated to Ordinary Share Capital?how much is the dividends per share for the Ordinary Share Capital?On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stack. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical's equity on July 31, 2021, comprised of the following Ordinary Shares, P10 par- P4,000,000 Subscribed ordinary shares-1,000,000 Share premium-600,000 Retained earnings-200,000 Treasury shares, 80,000 shares -1,750,000 What is the effect on the stockholders' equity as a result of the issuance of stock rights? A. 500,000 increase B. 2,500,000 increase C.no change D.200,000 increase
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