During 2020, Empresas ABC issued 4,000 preferred shares with a par value of $ 10 to $ 11 each. Each preferred share can be exchanged at the option of the holder (investor) for three common shares of ABC with a par value of $ 1. In August 2021, all preferred shares were exchanged. At that time the market value of the common stock was $ 5 per share. What amount must ABC credit to the Capital account contributed in excess of the value for common shares? a. $32,000 b. $48,000 c. 0 d. $44,000

Q: On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Flounder…

A: Journal entries are an act of recording transactions consisting of a debit and a credit side.

Q: On July 1, 2019, when its $1 par value common stock was selling for $66 per share, Kingbird Corp.…

A: Particulars Debit Credit Cash a/c               Dr $26,394,000           To 6%…

Q: On November 1, 2020, Ayayai Company adopted a stock-option plan that granted options to key…

A: Stock option is the right to buy a particular number of shares of the company, at a particular price…

Q: Accounting Cherry Corporation had 600,000 shares of common stock outstanding during 2020. In…

A: Answer a:- EPS = $1.67. Explanation:-  Computation of EPS:-  EPS = Net Income / Outstanding shares…

Q: In 2018, Broyles, Inc. reacquired 3,000 shares of its common stock at $55 per share. In 2019,…

A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open…

Q: on June 30 and December 31. Each $1,000 debenture can be converted into 4 common shares of Cullumber…

A: Journal entries refer to the process of collecting and recording all the transactions of a company…

Q: In 2021, Daisy, Inc. reacquired 5,000 shares of its common stock as treasury shares at $15 per…

A: Treasury stock is that stock which is being reacquired or repurchased by the company from its…

Q: On October 1, 2021, 500 shares of treasury stock were purchased at $40 per share. On January 15,…

A: The question endeavors to understand which of the four options would be a result of the transaction…

Q: On January 1, 2020, when the fair value of its common shares was $85 per share, Cullumber Corp.…

A: 1. Journal entry for original issuance of convertible debentures   Debit credit Cash Dr…

Q: Skysong Corporation began business in 2020 by issuing 79000 shares of $5 par common stock for $6 per…

A: The statement of shareholders equity defines the total outstanding shares and other stock related to…

Q: On January 1,2020, V Co. issued 100 share options to each of its 15 executive officers. The options…

A: An employee stock option gives the right to employees to purchase a pre specified number of shares…

Q: In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible…

A: Conversion of Convertible Preferences Shares to Common Shares According to the accounting procedures…

Q: On January 1, 2020, Green Company had issued executive share options permitting executives to buy…

A: In case of share options, the company issues the options has to compute the total estimated…

Q: On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share…

A: The allocation of aum sum issue amount is given by  Ai = Mi/M * C Where Ai = amount allocated to…

Q: In 2020, Caroline Company issued for P105 per share, 8,000 shares of P100 par value convertible…

A: Number of ordinary shares to be issued on conversion = 8,000 x 3 = 24,000 shares

Q: On November 1, 2020, DaBaby Company adopted a stock-option plan that granted options to key…

A: Employees Stock Option: When a company grants an employee stock option (ESO), it is referring to a…

Q: On January 1, 2020, when the fair value of its common shares was $80 per share, Pharoah Corp. issued…

A: Conversion of Bonds It is the method  of converting  a bond into shares. It  is dependent on…

Q: On June 1, 2020, Golden Warriors Corporation declared a share capital dividend entitling its…

A: The dividend is declared to the shareholders from the retained earnings of the business.  The…

Q: On January, 2019, Chicosci Corporation was incorporated with authorized Ordinary share capital of P…

A: Ordinary share capital refers to the total share outstanding at the par value per share.

Q: On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common…

A: Introduction: A journal entry is a commercial transaction that is recorded in an organization's…

Q: Blossom Corporation began business in 2020 by issuing 96000 shares of $5 par common stock for $8 per…

A: Answer: Common stock of $480000

Q: On January 1, 2020, Oriole Corporation issued $6 million of 10-year, 7% convertible debentures at…

A: On 01.01.2020, Oriole corporation issued convertible debentures 10 year, 7% convertible debentures =…

Q: On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Nash Corp.…

A: The journal entries would be as follows:

Q: On January 1, 2018, Adams-Meneke Corporation granted 25 million incentive stock options to division…

A: 1) Total Compensation cost on January 1, 2018 = No. of Stock options*Fair Value of Option Total…

Q: In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible…

A: There are two types of shares which can be issued by organisation to raise the fund; 1) Ordinary…

Q: On January 1, 2020, Gottlieb Corporation issued $3,860,000 of 10-year, 8% convertible debentures at…

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Q: In the financial year to June 30, 2021, HIFI Ltd issued options for 400,000 shares. During that…

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Q: In the financial year to June 30, 2021, HiFi Ltd issued options for 400,000 shares. During that…

A: Lets understand the basics. For calculating basic EPS, we need to use below formula. Basic EPS =…

Q: On March 1, 2020, Seokjin Corporation received subscription for 1,600 Preference Shares with P 300…

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Q: uring 2020, Ma

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Q: On July 1, 2020, Phoenix company offers to issue their accountant 800 common shares at their current…

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Q: On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Ivanhoe Corp.…

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A:

Q: On February 1, 2020, SEC authorized TINY INC. to issue 100,000 shares with par value of P10 per…

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A: Given Preference share ( $1 par value ) issued @ $11 each 4000 Preference share ( $1 par value )…

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Q: On July 1, 2019, when its $1 par value common stock was selling for $66 per share, Marin Corp,…

A: Date Account Titles and Explanation Debit Credit July 1, 2019 Cash $ 27,348,000…

Q: On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common…

A: What are journal entries? It is the first step to record the financial transactions in the books of…

Q: On January 1, 2020, Gottlieb Corporation issued $4,000,000 of 10-year, 8% convertible debentures at…

A: Introduction Debenture is a debt capital. Usually the return from debenture is interest and this…

Q: On January 1, 2020, Oriole Corporation granted 19,400 options to key executives. Each option allows…

A: Journal is the recording of financial transactions chronologically according to dual entity concept.…

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A: Buyback of shares - it means when the company buybacks its own holdings that was earlier subscribed…

Q: On January 1, 2020, Star Corp. sold 10,000 shares of common stock, par $2, at $18 per share. On…

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Q: During 2020, Goodfellow has the following transactions involving its common and preferred stock: a.…

A: The company will increase the financial position by issuing shares, bonds, debentures, etc., These…

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.