The Nonono Corporation is authorized to issue 100,000 ordinary shares, P17 par value. At the beginning of 2021, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P24. During 2021, the company entered into the following transactions: Jan. 16 Issued 1,300 ordinary shares at P25 per share. Mar. 21 Exchanged 12,000 ordinary shares for a building. The shares were selling at P27 per share. May 7 Reacquired 500 ordinary shares at P26 per share to be held in treasury. July 1 Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 10% down payment with the balance due on December 1. Sep. 20 Sold 500 treasury shares at P29 per share. Dec. 1 Collected the balance due on the July 1 subscriptions and issued the shares. 1. What is the total share premium as of December 31, 2021? 2. The total contributed capital on December 31, 2021 is 3. The total legal capital on December 31, 2021 is:
The Nonono Corporation is authorized to issue 100,000 ordinary shares, P17 par value. At the beginning of 2021, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P24. During 2021, the company entered into the following transactions: Jan. 16 Issued 1,300 ordinary shares at P25 per share. Mar. 21 Exchanged 12,000 ordinary shares for a building. The shares were selling at P27 per share. May 7 Reacquired 500 ordinary shares at P26 per share to be held in treasury. July 1 Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 10% down payment with the balance due on December 1. Sep. 20 Sold 500 treasury shares at P29 per share. Dec. 1 Collected the balance due on the July 1 subscriptions and issued the shares. 1. What is the total share premium as of December 31, 2021? 2. The total contributed capital on December 31, 2021 is 3. The total legal capital on December 31, 2021 is:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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The Nonono Corporation is authorized to issue 100,000 ordinary shares, P17 par value. At the beginning of 2021, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P24. During 2021, the company entered into the following transactions:
Jan. 16 Issued 1,300 ordinary shares at P25 per share.
Mar. 21 Exchanged 12,000 ordinary shares for a building. The shares were selling at P27 per share.
May 7 Reacquired 500 ordinary shares at P26 per share to be held in treasury.
July 1 Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 10% down payment with the balance due on December 1.
Sep. 20 Sold 500 treasury shares at P29 per share.
Dec. 1 Collected the balance due on the July 1 subscriptions and issued the shares.
Jan. 16 Issued 1,300 ordinary shares at P25 per share.
Mar. 21 Exchanged 12,000 ordinary shares for a building. The shares were selling at P27 per share.
May 7 Reacquired 500 ordinary shares at P26 per share to be held in treasury.
July 1 Accepted subscriptions to 1,000 ordinary shares at P28 per share. The contract called for 10% down payment with the balance due on December 1.
Sep. 20 Sold 500 treasury shares at P29 per share.
Dec. 1 Collected the balance due on the July 1 subscriptions and issued the shares.
1. What is the total share premium as of December 31, 2021?
2. The total contributed capital on December 31, 2021 is
3. The total legal capital on December 31, 2021 is:
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