The Hillside Corporation has an authorized shares of 250,000 with a par value of Php70. 100,000 shares were originally issued at par and 50,000 shares were subscribed at Php2 above par. During the year, the following transactions occurred:Jan. 5 An additional 30,000 shares were issued at Php75 per share.Feb. 11 2,500 of its own shares were reacquired by the company for Php150,000.Sept. 30 A 10% share dividend was declared by the Board of Directors.Dec. 31 The company realized a profit od Php470,000.Required: Record the foregoing transactions. Please include computations. 1. The Hillside Corporation has an authorized shares of 250,000 with a par value of Php70.100,000 shares were originally issued at par and 50,000 shares were subscribed at Php2above par. During the year, the following transactions occurred:Jan. 5 An additional 30,000 shares were issued at Php75 per share.Feb. 11 2,500 of its own shares were reacquired by the company for Php150,000.Sept. 30 A 10% share dividend was declared by the Board of Directors.Dec. 31 The company realized a profit od Php470,000.Required: Record the foregoing transactions.

Share capital is considered as a part of capital which is issued by the company as shares. Shares is…

Answered: The Hillside Corporation has an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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The Hillside Corporation has an authorized shares of 250,000 with a par value of Php70. 100,000 shares were originally issued at par and 50,000 shares were subscribed at Php2 above par. During the year, the following transactions occurred:

Jan. 5 An additional 30,000 shares were issued at Php75 per share.
Feb. 11 2,500 of its own shares were reacquired by the company for Php150,000.
Sept. 30 A 10% share dividend was declared by the Board of Directors.
Dec. 31 The company realized a profit od Php470,000.

Required: Record the foregoing transactions. Please include computations.

1. The Hillside Corporation has an authorized shares of 250,000 with a par value of Php70.
100,000 shares were originally issued at par and 50,000 shares were subscribed at Php2
above par. During the year, the following transactions occurred:
Jan. 5 An additional 30,000 shares were issued at Php75 per share.
Feb. 11 2,500 of its own shares were reacquired by the company for Php150,000.
Sept. 30 A 10% share dividend was declared by the Board of Directors.
Dec. 31 The company realized a profit od Php470,000.
Required: Record the foregoing transactions.

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