Indicate the amount in the blank. No peso sign, no decimal and no comma (this will be automated). Example: 1000000 Ordinary Shares, P15, 20,000 shares authorized, 270,000.00 18,000 shares issued Subscriptions Receivable (collectible within one year) 17,000.00 Subscribed Ordinary Shares 27,000.00 Retained Earnings 200,000.00 Share Premium 95,000.00 Treasury Stock, 1,000 shares, at cost 25,000.00 Indicate the: How much is the Total authorized ordinary shares? Question 2 Using the above question, how much is the Total unissued ordinary shares Question 3 Using the above question, how much is the Total Issued Ordinary Shares

Indicate the amount in the blank. No peso sign, no decimal and no comma (this will be automated). Example: 1000000 Ordinary Shares, P15, 20,000 shares authorized, 270,000.00 18,000 shares issued Subscriptions Receivable (collectible within one year) 17,000.00 Subscribed Ordinary Shares 27,000.00 Retained Earnings 200,000.00 Share Premium 95,000.00 Treasury Stock, 1,000 shares, at cost 25,000.00 Indicate the: How much is the Total authorized ordinary shares? Question 2 Using the above question, how much is the Total unissued ordinary shares Question 3 Using the above question, how much is the Total Issued Ordinary Shares

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.23E

See similar textbooks

Similar questions

Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.
2-Olaf Inc. received a check from its underwriters for $83 million. This was for the issue of one million of its $5 par stock that the underwriters expect to sell for $83 per share. Which is the correct entry to record the issue of the stock? O dr. Cash $83,000,000; cr. Common stock $83,000,000. O. © dr. Cash $83,000,000; cr. Deferred stock issue revenue $38,000,000; cr. Common stock $5,000,000; cr. Paid-in capital-excess of par $40,000,000. O None of the options listed. O. © dr. Cash $83,000,000; cr. Common stock $5,000,000; cr. Paid-in capital-excess of par $78,000,000. O. © dr. Cash $83,000,000; cr. Stock issue expense $38,000,000; cr. Stock contract receivable $45,000,000.
The correct Journal entry needed to record the issue of 200,000 $1 shares at a premium of 30p, and paidfor by cheque, in full, would beA DEBIT share capital account $200,000CREDIT share premium account $60,000CREDIT bank account $140,000B DEBIT bank account $260,000CREDIT share capital account $200,000CREDIT share premium account $60,000C DEBIT share capital account $200,000CREDIT share premium account $60,000CREDIT bank account $260,000D DEBIT bank account $200,000DEBIT share premium account $60,000CREDIT share capital account $260,000
Please give solutions and explanation to the three questions. The correct answer is already given, just provide me with solution. "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 issued?" Answer: 40,000 shares The shareholders’ equity section of the statement of financial position of LW Corporation showed the following balances at December 31, 2020: Ordinary share capital, 10,000 shares issued P300,000 Share premium 100,000 Retained earnings 240,000 Treasury shares, 1,000 shares…
Please answer this problem and provide complete solution in good accounting form. Thank you! Victory Company issued 8,000 ordinary shares with P200 par value and 20,000 preference shares with P200 par value for a total consideration of P7,500,000. At the date of issue, the ordinary share was selling for P360 and the preference share was selling for P270. What is the share premium from the issuance of ordinary shares?
The Horner Corporation has the following balance in their common shares account at January 1st 20x8: Common Shares, ? shares outstanding $14080832 The following is the journal entry recorded after reacquiring 21387 shares during the year for $336009 Common Shares $336009 Cash $336009 What was the number of common shares Horner Corporation has outstanding at January 1st 20x8? Select one: a. 14102219 b. 896246 c. 14080832 d. 658
To continue in no. 13 (it is in the picture), assume the following transactions took place during 2020: Jan. 10 - One-half of the subscriptions receivable were collected and certificates of stock issued for 1,000 shares. 20 Remaining subscriptions were declared delinquent and the corresponding chares put up for public auction. Advertising paid, P5,500. 25 A bidder for 300 shares paid the amount due plus accrued interest of P750 and the corresponding certificates were issued. 31 A stockholder received 2,000 preferred shares with a market value of P200 201 Feb. 8 - 300 treasury shares were sold for P45,000 20 - A shareholder paid P70,000 for 500 common shares. 28 - 5,000 preferred shares were redeemed at a price of P120 per share Mar. 1 - 100 treasury shares were sold for P10,000. Direction: 1) Prepare a table tracking down the movement of the stocks, one each for the preferred and common. Start with the December 31 balances. 2) Journal entries 3) Prepare the shareholders' equity…
Osage Corporation issued 2,000 shares of common stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. (c) The stock had no par or stated value and was issued for a total of $52,000. (d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000. (e) The stock had a par value of $5 per share and was issued for land worth $52,000.
E11-3 During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 70,000 shares for cash at $5 per share. July 1 Issued 40,000 shares for cash at $7 per share. Instructions (a) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.
Prior to June 30, a company has never had any treasury stock transactions. The company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the journal entry necessary to record the repurchase of stock on June 30? Mutiple Choice Debit Common Stock $4,000; credit Cash $4,000. Debit Common Stock $100; debit Treasury Stock $3,900; credit Cash $4,000. Debit Treasury Stock $3,900; debit Paid-in Capital, Treasury Stock $100; credit Cash $4,000. Debit Treasury Stock, Common $4,000; credit Cash $4,000. Debit Cash $4,000; credit Treasury Stock $4,000.
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
Y Ltd issued 800 000 ordinary shares of 20 cents each at 25 cents each. At the point of issue all shares were fully called up. However, by the year-end R15 000 due on the share issue was yet to be received. What will be the amount reported as balance in the company’s Share Capital account? R185000 or R145000 or R200 000 or R160 000