How much is the total shareholder's equity if all subscription receivables are due in year 2022 a. 12,400,000 b. 11,780,000 C. 11,040,000 d. 13,140,000
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- Convertible Preferred Stock On January 2, 2019, Bray Corporation issues 900 shares of 100 par convertible preferred stock for 117 per share. On January 7, 2020, all the preferred shareholders convert their shares to common stock. Required: 1. Prepare the January 2, 2019, journal entry to record the issuance of the preferred stock. 2. Prepare the January 7, 2020, journal entry to record the conversion, assuming the preferred stock contract states that: a. each share of preferred stock is convertible into 7 shares of 10 par common stock b. each share of preferred stock is convertible into 12 shares of 10 par common stockRED Corporation provided the following account balances on December 31, 2021: Preference share, authorized, P50 par - P10,000,000; Unissued preference share - P3,600,000; Ordinary share, authorized, P20 par - P4,000,000; Unissued ordinary share - P2,000,000; Subscription receivable, preference share - P380,000; Subscription receivable, ordinary share - P360,000; Subscribed preference share -P600,000; Subscribed ordinary share -P440,000; Treasury share, preference at cost -P1,360,000; Share premium -P1,700,000; Accumulated profits and losses - P2,000,000. All subscriptions receivables are due in year 2022. How much is the total shareholders' equity of RED Corporation?Penny Corporation provided the following account balances on December 31, 2021: Preference share, authorized, 250 par - P10,000,000; Unissued preference share - P3,600,000; Ordinary share, authorized, P20 par - P4,000,000; Unissued ordinary share - P2,000,000; Subscription receivable, preference share-380,000; Subscription receivable, ordinary share - P360,000; Subscribed preference share-P600,000; Subscribed ordinary share - P440,000; Treasury share, preference at cost-P1,360,000; Share premium - 1,700,000; Accumulated profits and losses - P2,000,000. All subscriptions receivables are due in year 2022. How much is the total shareholders’ equity of Penny Corporation?
- "The following are found in the trial balance of M Corporation at December 31, 2021: Authorized ordinary share, P50 par value P3,000,000; Subscription receivable P200,000; Unissued ordinary share P1,000,000; Subscribed ordinary share P500,000; Share premium ordinary P100,000. What is the total number of shares available for subscription?"#17The following data are presented for Caroline company for the year ended December 31, 2020.Preference share capital authorized, 100 par, P15,000,000, Ordinary share capital authorized,10 par, P6,000,000, Unissued preference share capital, P5,400,000, Unissued ordinary sharecapital, P3,000,000, Subscriptions receivable, ordinary, P540,000, Subscriptions receivable,preference, P570,000, Preference share capital subscribed, P900,000, Ordinary share capitalsubscribed, P660,000, Treasury preference shares (700 shares at cost), P2,040,000, Sharepremium, P2,550,000, Retained earnings, P6,000,000. What is the amount of shareholder’sequity on December 31, 2018? 19,560,000 pls provide solution for this answerThe accounts below appear in the December 31, 2019 balance of J Company: Authorized ordinary share capital P5,000,000 Unissued ordinary share capital 2,000,000 Subscribed ordinary share capital 1,000,000 Subscription Receivable 400,000 Share Premium 500,000 Retained Earnings 1,100,000 Treasury ShareCost 100,000 In its December 31, 2019 balance sheet, J company should record a total shareholder’s equity of a.P5,500,000 b.P4,900,000 c.P4,800,000 d.P5,100,000
- LABAN Company provided the following shareholders’ equity on December 31, 2020:Preference share capital, 12% P100 par1,000,000Ordinary share capital, P1004,000,000Share premium2,000,000Retained Earnings1,000,000Dividends have been paid on the preference share up to December 31, 2017.Required:Compute the book value per ordinary share and per preference share under each of thefollowing conditions with respect to preference share:a) Cumulative and fully participatingb) Cumulative and fully participating after ordinary share receives 15%c) Cumulative and participating up to 16%d) Cumulative and non-participatinge) Noncumulative and non-participatingLABAN Company provided the following shareholders’ equity on December 31, 2020:Preference share capital, 12% P100 par1,000,000Ordinary share capital, P1004,000,000Share premium2,000,000Retained Earnings1,000,000Dividends have been paid on the preference share up to December 31, 2017.Required:Compute the book value per ordinary share and per preference share under each of thefollowing conditions with respect to preference share:d) Cumulative and non-participatinge) Noncumulative and non-participatingKAHITPUMASALANGOKAYNA CORPORATION provided the following data on December 31,201912% preference share capital, 20 000 shares, P100 par 2 000 00014% preference share capital, 10 000 shares, P300 par 3 000 000Ordinary share capital, 50 000 shares, P100 par 5 000 000retained earnings 2 240 000share premium 1 500 000the 12% preference share is cumulative and participating. the 14% preference share is noncumulatie and participating. dividends are in arrearsfor 3 years. the 12% preference share is conertible. each 12% preference share can be converted to 2 ordinary shares. ordinary shares outstanding on January 1,2019 were 25,000 shares. 15 000 shares were issued on July 1, while another 10 000 shares were issued on October 1. the issuance during the year was all at par. net income for the year was…
- The accounts below appear in the December 31, 2020 trial balance of Moon Company: Authorized share capital P5,000.000 Unissued share capital 2,000,000 Subscribed share capital 1,000,000 Subscription receivable 400,000 Share premium 500,000 Retained Earnings unappropriated 600,000 Retained Earnings appropriated 300,000 Revaluation surplus 200,000 Treasury shares at cost 100.000 In its December 31, 2020 statement of financial position, Moon should report total shareholders' equity at?The following accounts are found in the trial balance of Dawn Corporation as December 31, 2019. Authorized Ordinary share capital, P 100 par P1,000,000; Unissued Ordinary share capital P300,000; Subscribed Ordinary share P200,000; Ordinary share subscription receivable P100,000; Ordinary share premium P70,000. The total number of shares issued is _____. Using data above, the total number of shares still available for subscription is ______.The following accounts are found in the trial balance of Dawn Corporation as December 31, 2019. Authorized Ordinary share capital, P 100 par P1,000,000; Unissued Ordinary share capital P300,000; Subscribed Ordinary share P200,000; Ordinary share subscription receivable P100,000; Ordinary share premium P70,000. The total number of shares issued is Using data in number 1, the total number of shares still available for subscription is
