On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par convertible preference shares for a lump sum price of P45,000. At this date, Nokia's ordinary and preference were selling at P18 and P14 per share, respectively. 9. What is the amount credited to Share Premium Ordinary? _10. What is the amount credited to Share Premium Preference? D. Bosch Corporation was organized on January 1, 2018. It was authorized by
On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par convertible preference shares for a lump sum price of P45,000. At this date, Nokia's ordinary and preference were selling at P18 and P14 per share, respectively. 9. What is the amount credited to Share Premium Ordinary? _10. What is the amount credited to Share Premium Preference? D. Bosch Corporation was organized on January 1, 2018. It was authorized by
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Kindly answer numbers 11 and 12 with solution
Transcribed Image Text:On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares
and 2,000 P10 par convertible preference shares for a lump sum price of
P45,000. At this date, Nokia's ordinary and preference were selling at P18
and P14 per share, respectively.
С.
9.
What is the amount credited to Share Premium
Ordinary?
10.
What is the amount credited to Share Premium
Preference?
D.
Bosch Corporation was organized on January 1, 2018. It was authorized by
the Securities and Exchange Commission to issue share capital of
P5,000,000 divided into 50,000 shares of P100 par value ordinary share
capital. The incorporators immediately subscribed to 12,500 shares at par.
How much must be paid by the incorporators upon
subscription in order that it would meet the
requirements of the SEC?
11.
On April 1, 2018, Globe Corporation, a newly formed company, had the
following share capital issued and outstanding:
E.
Ordinary Share Capital, no par, P10 stated value, 20,000 shares
originally issued at P30 per share.
Preference Share Capital, P100 par, 600 shares originally issued at
P500 per share.
What are the amounts of Ordinary Share Capital,
Preference Share Capital, and Additional Paid in
Capital, respectively, that Globe Corporation should
report in its April 1, 2018 statement of shareholders'
equity?
12.
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