Helu Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with a par value of P5 per share. During the year, the corporation had the following equity transactions: - Issued 200,000 shares @ P5 per Jan. 4 share. - Issued 100,000 shares @ P7 per April 8 share. June 9 - Issued 30,000 shares @ P10 per share Purchased 50,000 shares @ P4 per July 29 share. Sold 50,000 shares held in treasury @ Dec. 31 P8 per share. What should be the total Share Premium as of December 31? C P450,000 O P400.000 O P500.000 P550,000

Helu Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with a par value of P5 per share. During the year, the corporation had the following equity transactions: - Issued 200,000 shares @ P5 per Jan. 4 share. - Issued 100,000 shares @ P7 per April 8 share. June 9 - Issued 30,000 shares @ P10 per share Purchased 50,000 shares @ P4 per July 29 share. Sold 50,000 shares held in treasury @ Dec. 31 P8 per share. What should be the total Share Premium as of December 31? C P450,000 O P400.000 O P500.000 P550,000

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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Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.
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Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
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