Andoy Corp. was organized on January 1, 2017 with authorized capital of 100,000 ordinary shares, P20 par value. During 2014, Andoy Co. had the following transactions affecting the shareholders’ equity.  Jan 10 - Issued 25,000 shares at P22 per share. Mar 25 - Issued 1,000 shares for legal service when the fair value was P24 per share. Sep 30 - Issued 5,000 shares for a piece of equipment when the value was P26 per share. How much is the balance of the ordinary share capital account as of September 30?     P704,000 P620,000 P674,000 P700,000

Q: On July 1, 2014, Mac Corporation, a new corporation, issued 20,000 shares of its common stock to…

A: The company may issue shares for cash or against non-cash assets. In case of non-cash assets…

Q: Bridgeport Inc was formed on July 1, 2017. It was authorized to issue an unlimited number of common…

A:

Q: Faith Corporation was organized on January 2, 2018 and is authorized to issue 25,000 shares of 10%…

A: In the context of the given question, we are required to prepare the journal entries. The Journal…

Q: Gaddy Company has 50,000 ordinary shares authorized with P10 par value. The following transactions…

A: Contributed capital includes the total value of the capital of the company, by issuing common stock…

Q: On January 1, 2015, Visaries Corporation was established. On that day, it issued 200,000 shares at a…

A: Common stock par value = $ 10 Issued price = $ 15 Paid in capital in excess of par common stock =…

Q: Macanas Company had 125,000 shares issued as of January 1, 2018, which includes 25,000 treasury…

A: Answer) Calculation of Number of shares issued Number of shares issued = Total number of shares…

Q: On July 1, 2013, the Monster Corporation was registered with the SEC. Its authorized share capital…

A: If an entity issues stock in exchange for assets, the cost must be assigned to such asset by using…

Q: In late 2015, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of…

A: 1. Prepare journal entries to record the given transactions.Record the issuance of common shares.

Q: Kakhie Company issued share capital of 20,000 shares with USD5 par at USD10 per share. On January 1,…

A: The calculation is given below

Q: Kenneth Company was organized on January 1, 2015 at which date it issued 100,000 common stock of P10…

A: Introduction: Shareholders' equity which is also known as net worth of the company, is the owners…

Q: On December 31, 2017, Dow Steel Corporation had 610,000 shares of common stock and 31,000 shares of…

A: Earnings per share refers to the earnings available for the each share of a shareholder. It is…

Q: Amel Corporation was organized on January 1, 2015, with an authorization of 1,200,000 shares of…

A: Every company raises finance by way of issue of shares. These can be ordinary shares or preference…

Q: On June 1, 2015, Golden Warriors Corporation declared a share capital dividend entitling its…

A: Stock dividend is known as a method of capitalizing the retained earning. Under this, no profit is…

Q: Debacle Company was organized on January 1, 2012. On that date, it issued 200,000 shares with P10…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Elmer's Incorporated has the following stock outstanding on Dec. 31, 2013: Ordinary Shares, P100…

A: The company can issue shares by 3 ways. 1. Sale of Stock for Cash 2. Sale of Stock on Account 3.…

Q: Karima Corporation was formed on January 2, 2014, with 100,000 authorized shares of USD100 par value…

A: Shares issued means the number of shares sold or exchanged with public for money or money's worth.…

Q: Barbie Co. was organized on January 2, 2015, with 500,000 authorized shares of P10 par value common…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: On January 15, 2014, King International’s board of directors declared a 3-for-1 stock split of its…

A: Particulars Amount ($) Common Stock $12 par (3200000 shares authorized and 800000 issued) 9600000…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,600,000 authorized shares…

A: Treasury shares has debit account balance. It would be deducted to determine the stockholders'…

Q: Corporation was organized on January 2, 2018 and is authorized to issue 25,000 shares of 10%…

A: Explanation of Concept Journal entries are the accounting treatment done in the books of accounts…

Q: The Golden Rule Corporation was organized on January 1, 2014 with authorized share capital…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: On December 31, 2015, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares…

A:

Q: Early in 2007, Herndon Industries was formed with authorization to issue 200,000 shares of $10par…

A:

Q: The Meg Company began operations in January 2013 and reported the following results for each of its…

A: The question is based on the concept of Financial Accounting.

Q: On April 1, 2017, the directors of ABC Ltd issued 1,00,000 equity shares of BDT 10 each at BDT 12…

A: given   On April 1, 2017, the directors of ABC Ltd issued 1,00,000 equity shares of BDT 10 each at…

Q: In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: WHAT IS THE LEGAL CAPITAL? The Century Philippines Corporation has been authorized to issue 100,000…

A: Legal Capital: It is capital of the shareholder's equity which is not legally allowed to be…

Q: Andoy Corp. was organized on January 1, 2017 with authorized capital of 100,000 ordinary shares, P20…

A: Share premium represents the value higher than par value of the shares issued.

Q: Early in 2007, Parker Industries was formed with authorization to issue 100,000 shares of $20…

A: Stockholders equity sections represents the funds contributed by all types of shareholders such as…

Q: Early in 2009, Feller Corporation was formed with authorization to issue 50,000 shares of $1…

A: Statement of cash flows: All cash In and out transactions are record in cash flow statement. It…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…

A: The purchase of own shares is known as treasury stock.

Q: Coy, Inc. initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2009. In 3. 2010,…

A: The treasury stock includes the own shares of the company that are repurchased from the…

Q: Pico Company was organized on January 1, 2015 with authorized capital of 100,000 shar of P200 par…

A: The share premium is the amount received in excess of par value of shares issued.

Q: The capital accounts of Kay, Inc. on December 31, 2015 were as follows: Preference Share Capital,…

A: The shareholders' equity section represents the equity that belongs to the shareholders including…

Q: Halpern Corporation is authorized to issue 1,000,000 shares of $3 par value common stock. During…

A: Given, Corporation is authorized to issue of shares 1,000,000 Common stock $3 par value Paid the…

Q: Data Controls Corporation had 250,000 shares of common stock outstanding at the end of 2017. During…

A: The number of shares in a corporation computed after accounting for variations in the share capital…

Q: In January 2014, ABC Corporation, a new corporation, issued 10,000 shares of common stock with a par…

A: some times companies repurchase its own shares to prevent the dilution of the ownership of the…

Q: On December 31, 2017, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of…

A: Given information is: Net Income = $21,00,000 Dividend to preference shareholders = $75,000

Q: Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 100,000…

A: Equity share capital refers capital which is raised by a corporation by offering shares.

Q: Hazel Company was organized on January 1, 2017. It is authorized to issue 100,000, 10%, $100 par…

A: Journal entries in the books are recorded in order to maintain a proper report of transactions.

Q: On January 1, 2014, Potter issued 200,000 additional shares of P10 par value common stock for all of…

A: Consolidated Financial Statements are prepared by the parent company to report its income summary…

Q: On January 1, 2014, Potter issued 200,000 additional shares of P10 par value common stock for all of…

A: According to Companies Act 2013, when a company has one or more subsidiaries, additional to its…

Q: Vllarama Corporation was organized on Jan. 1, 2017. It is authorized to issue 20,000 shares of 6%,…

A: Share capital is most important section of balance sheet.

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…

A: Journal Entry - It is record of every business transaction whether it economic or non economic for a…

Q: Early 2014, H industries was forms with authorization to issue 250,000 share of $10 par value common…

A: Stock holder’s equity: This section of the balance sheet shows the total balance in the stock…

Q: On October 1, 2018, Branded Corporation exchanged 20,000 shares of its P 200 par value of Ordinary…

A: Note:- Since you have asked multiple questions, we will solve the first question for you, if you…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.