The Vermillion Inc. wants to raise its working capital. The Company decides to issue 6,000 shares of Php30 par preference shares with detachable warrants. The package of the shares and warrants sell for Php120. The warrants enable the holder to purchase 6,000 shares of Php10 par ordinary shares at Php40 per share immediately. Immediately following the issuance of the shares, the share warrants are selling at Php10 per share. The market value of the preference share without the warrants is Php90.
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What is the
-Issuance of 6,000
-Assuming that the only 60% of the warrants are exercised, what is the entry to record the exercise of warrants
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- Title Gorilla Supply Company received a 120-day, 5% note for $150,000, dated March 27 from a customer on.. Description Gorilla Supply Company received a 120-day, 5% note for $150,000, dated March 27 from a customer on account.a. Determine the due date of the note.b. Determine the maturity value of the note.c. Journalize the entry to record the receipt of the payment of the note at maturity.View Solution:Gorilla Supply Company received a 120 day 5 note for 150 000a. If the note is issued with a 45-day term, journalize the entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note.Valley Designs issued a 90-day, 10% note for $48,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. Question Content Area a. Determine the due date of the note. b. Determine the maturity value of the note.$___ Question Content Area c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. notes receivable - Select - 0 accounts receivable - valley designs 0 - Select - Question Content Area c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank. cash - Select - 0 notes receivable 0 - Select - interest revenue 0 - Select -