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- #16On December 1, 2019, Ceniza corporation received a donation of 3,000 shares of its P50 parvalue ordinary shares from a shareholder. On that date, the share’s market value was 350per share. The stock was originally issued for P250 per share. By what amount would thisdonation cause total shareholder’s equity to decrease? 0 pls provide the correct solution for the given answer#16On December 1, 2019, Ceniza corporation received a donation of 3,000 shares of its P50 parvalue ordinary shares from a shareholder. On that date, the share’s market value was 350per share. The stock was originally issued for P250 per share. By what amount would thisdonation cause total shareholder’s equity to decrease? Answer = 0 pls provide the correct solution for the given answerE14-21 In 2022, Amber Wilson, owner of Canyon Canoe Company, started a new company that will be operated as a corporation, Outdoor Equipment Incorporated (OEI) This company sells outdoor equipment. The articles of incorporation for OEI authorized the company to issue 500,000 preferred shares that pay a dividend of $4.00 per year and 1,000,000 common shares On January 1, 2023, the 2,000 preferred shares had a balance of $70,000 the 50,000 common shares had a balance of $200,000, and the retained earnings balance was $402,000 In January 2023, OEI has the following transactions related to its common shares Jan 3 The company sold 1,000 of its common shares for $8.00per share to a small number of people who believe in the company's potential for profit Jan 20 The company repurchased 100 of its common shares for $10.00 per share from a shareholder who was having financial difficulties Jan 30 The company sold 100 common shares for $12.00 per share Required 1) Journalize the entries related to…
- A was not able to fully pay his subscription for 1,000 shares of B Corporation’s stock. Thus, these shares were later sold at a public auction with the following bidders: C: 600 shares, D: 700 shares, and E: 620 shares. Which of the following statements is CORRECT? A will receive share certificate for 1,000 shares. C will receive share certificate for 400 shares. B Corporation will not receive any shares. D will receive share certificate for 700 shares.X subscribed to a total of 1,000 shares of stock. His first subscription was for 600 shares which was fully paid and he was issued a stock certificate for 600 shares. For his second subscription of 400 shares, he only paid 40%. Is X entitle to vote for the 1,000 shares? Yes, since the unpaid shares have not been declared delinquent No, since X has not paid for the entire subscription No, but X is entitled to vote for 760 shares, corresponding to the total amount he paid Yes, X is entitled to vote for his entire subscription for he will be considered a debtor of the corporation for the unpaid shares. S subscribed to 100 shares of stock of C Corporation with a par value of P100 each, paying P 3,000 on his subscription. Subsequently S asked the President of C Corporation to release him from his subscription. The President of C Corporation consented provided that S forfeits to the corporation what he had already paid. However, C Corporation went into insolvency and an assignee was…First Link Services granted 5.8 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within five years. The common shares have a market price of $20 per share on the grant date of the restricted stock award. Ignoring taxes, what is the effect on earnings in the year after the shares are granted to executives?
- Cordero Corporation has an employee stock-purchase planwhich permits all full-time employees to purchase 10 sharesof common stock on the third anniversary of their employmentand an additional 15 shares on each subsequent anniversarydate. The purchase price is set at the market price onthe date purchased and no commission is charged. Discusswhether this plan would be considered compensatory.In September, the board of directors of chaparral steel approved a 2 for 1 stock split. After the split, how many shares of chaparral steel stock will an investor have if he or she owned 230 shares before the split?On December 1, 2019, Gates Corporation received a donation of 2,000 shares of its P5 par value ordinary shares from a shareholder. On that date, the share’s fair value was P35 per share. The share was originally issued for P25 per share. By what amount would this donation cause total shareholders’ equity to decrease? (Note: No need for negative sign. If your answer is zero, place the number 0.)
- On January 1, 2024, Cori Ander Herbs granted restricted stock units (RSUs) representing 300,000 of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $13 per share on the grant date. At the date of grant, the company anticipated that 5% of the recipients would leave the firm prior to vesting. In 2025, 1% of the options are forfeited due to executive turnover. The company chooses the option not to estimate forfeitures. What amount should the company record as compensation expense for the year ended December 31, 2025?Entity A is an unlisted entity, and its shares are owned by two directors. The directors have decided to issue 1,000 share options to an employee in lieu of many years' service However, the fair value of the share options cannot be reliably measured as the entity operates in a highly specialized market where there are no comparable companies. The exercise price is P100 per share, and the options were granted on January 1, 20X4, when the value of the shares was also estimated at P100 per share. At the end of the financial year, December 31, 20X4, the value of the shares was estimated at P150 per share and the options vested on that date. Requirement: Provide all the entries in 20x4.What will be the Compensation for officers in the 1120, 2020 form? Please show the calculation as well. EC is owned by four related shareholders from the same family for the entire year: Raphael Giordano (father) and his three children Silvia, Andrea, and Marco. None of EC’s shareholders are non-U.S. persons. There are currently 10,000 shares of EC common stock issued and outstanding (EC has never issued preferred stock). The shareholders are also employees of EC and its only corporate officers. The relevant shareholder and officer information for the current year is provided below. Officer compensation is included in Employee Salaries on the income statement. Given in Income Statement for the period ending December 31, 2020 Salaries & Wages: $743,500. Their personal information is provided below. Raphael Giordano, Shares owned 5,500, 100% of time devoted to the business, compensation of $150,000 Silvia Giordano Costa, Shares owned 1,500, 100% of time devoted to the business,…