Preference share capital authorized, P100 par5,000,000Ordinary share capital authorized, P10 par2,000,000Unissued preference share capital1,800,000Unissued ordinary share capital1,000,000Subscriptions receivable, ordinary180,000Subscriptions receivable, preference190,000Preference share capital subscribed300,000Ordinary share capital subscribed220,000Treasury preference shares (700 shares atcost)680,000Share premium850,000Retained Earnings2,000,000How many ordinary shares were issued?

To solve for the ordinary shares that were issued, 1. Get the sum of ordinary shares subscribed and…

Answered: Preference share capital authorized,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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KAHITPUMASALANGOKAYNA CORPORATION provided the following data on December 31,201912% preference share capital, 20 000 shares, P100 par 2 000 00014% preference share capital, 10 000 shares, P300 par 3 000 000Ordinary share capital, 50 000 shares, P100 par 5 000 000retained earnings 2 240 000share premium 1 500 000the 12% preference share is cumulative and participating. the 14% preference share is noncumulatie and participating. dividends are in arrearsfor 3 years. the 12% preference share is conertible. each 12% preference share can be converted to 2 ordinary shares. ordinary shares outstanding on January 1,2019 were 25,000 shares. 15 000 shares were issued on July 1, while another 10 000 shares were issued on October 1. the issuance during the year was all at par. net income for the year was…
What is prefences share captial? What is the journal entries mean?
The accounts below appear in the December 31, 2022 trial balance of BFAR Corporation: Ordinary Share Capital Subscribed Ordinary Share Capital Subscription Receivable Share Premium Accumulated Profits - Unappropriated Accumulated Profits - Appropriated Treasury Shares, at cost Compute the Total Shareholders' Equity. 3,000,000 1,000,000 400,000 500,000 600,000 300,000 400,000
Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .
Problem 8-6 (Reconstruction of Transaction) Shown below and on the next page are account balances found in the ledger of Humility Corporation at the end of 2014: P 360,000 182,000 Subscription Receivable - Preference Share Subscription Receivable - Ordinary Share 8% Preference Share Capital, P50 par value, authorized, 80,000 shares Issued P 1,440,000 720,000 2,160,000 Subscribed
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: LO 15.8 Account Title Amount Additional Paid-in Capital on Preferred Stock Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Retained Earnings Additional Paid-in Capital on Common Stock Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance…
1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…
Question: How much is the total legal capital contribution?
The accounts shown below appear in the December 31, 2022 trial balance of BFAR Corporation: Preference Share Capital, issued P100 par Ordinary Share Capital, issued P20 par Subscription Receivable, Preference (collectible in 2 years) Subscription Receivable, Ordinary (collectible in 2 years) Subscribed Preference Share Capital Subscribed Ordinary Share Capital Share Premium - Ordinary Share Premium - Preference Treasury share capital, Ordinary, at cost Accumulated Profits - Appropriated for bond retirement Accumulated Profits - Unappropriated (adjusted) Profit for the year is P2,000,000. Compute the total Shareholders' equity of BFAR Corporation. 10,400,000 5,000,000 680,000 860,000 600,000 540,000 1,000,000 2,860,000 2,000,000 5,000,000 700,000
1. What amount should be reported as book value per ordinary share? 2. What amount should be reported as book value per preference share?
Exercise 6-5 (Journalizing Share Capital Transactions) The BCD Corporation was organized on January 2, 2021 with authorized capital of 500,000 shares of P20 par value ordinary share capital. During the first two years, the following transactions took place: 2021 Jan 2 Issued 125,000 shares to the incorporators at P26. Ma 2 Issued 62,500 shares at P35. r Issued 25,000 in exchange for land valued at P350,000 and a building valued at 1 Ма P550,000. The Income Summary account showed a credit balance of P750,000 and this 1 r De was transferred to the Retained Earnings account. 3 Declared cash dividends of P3.50 per share payable on January 31, 2022 to 1 shareholders of record of January 15, 2022. 2022 Jan Paid dividends declared on December 31. Fe Received subscriptions for 50,000 shares at P55, with a down payment of 35% of total subscriptions. Received balance due on the subscription of February 14 and shares were issued to the subscribers. Ma r De The Income Summary account showed a…
05-Principles of Financial N urses / BUSS 105-2-20202/ General / Test 2 - BUSS 105 The company capital structure consists of debt 135000 at 3.05%, common stock 410000 at 10.09% and preferred stock 200000 at 11%, calculate company's weighted average cost of capital Select one: O80 1906

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