-On June 1, 20x1, Eureka Co. issued 30,000 stock rights to its shareholders. Each stock right entitles the holder to purchase one ordinary share of Eureka Co. for P50. The share is P10 and the fair value per share is P80. Half of the stock rights were exercised on June 20, 20x1 and the remaining half expired on June 30, 20x1. par value per Requirement: Provide the journal entries.

Q: Bonita Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Calculate the total allocation. Journal entry:

Q: Oregon Outfitters issues 1,700 shares of $1 par value common stock at $19 per share. Later in the…

A: The extra cash received is credited to the Paid-in capital in excess of par Account.

Q: On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equity securities…

A: Received stock rights= 10,000 Share rate= ₱60 per share for every 4 rights held Prior-share rate=…

Q: On September 14, 10,000 shares of Grey Company are acquired at a price of $100 per share plus a $500…

A: Journal is the basic recording book in accounting. It is the primary book of entry for recording…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: The stockholder's equity will be changed when the stock rights holder will exercise the stock rights…

Q: Riverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Journal entries refer to the process of systematic documentation of the financial transactions of a…

Q: Baur Company acquired 20,000 ordinary shares on October 1 for P1,344,000 to be held for trading. On…

A: Purchase of Shares= 20000  Price paid for the shares= P1344000 Therefore, Price paid for each share=…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Right issue Right issue which is provided by the company to its existing shareholders to acquire…

Q: *I need help on the Dec 31 entire entry (see attached): HW15-01A: On January 23, 15,000 shares of…

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Comical Company issued rights to stockholders to subscribe to an additional share of its common…

Q: Wolmore Resources Ltd. is authorized to issue unlimited numbers of common shares, of which…

A: SOLUTION A JOURNAL COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTIONS ARE RECORDED IN…

Q: On December 2, Coley Corp. acquired 1,400 shares of its $5 par value common stock for $20 each. On…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: On September 12, 2,600 shares of Aspen Company are acquired at a price of $48.00 per share plus a…

A: 1. CALCULATION FOR PURCHASE OF INVESTMENT : = (2,600 X $48) + $130  = $124,930   2. CALCULATION OF…

Q: On September 12, 3,800 shares of Aspen Company are acquired at a price of $60.00 per share plus a…

A: Brokerage commission paid to purchase the shares will be added to the cost of the shares.

Q: Co. issues 10,000 stock rights to shareholders which entitle them to purchase one ordinary share…

A: Retained earnings represent the earnings of the company accumulated over a period of time.

Q: International Co. issues 4,000 shares of its $5 par value common stock having a fair value of $25…

A: The different shares are issued at lump sum amount, then at can be allocated to different shares…

Q: Sunland Company has issued 1,900 shares of common stock and 380 shares of preferred stock for a lump…

A: The stock in which shareholder’s are entitled to received dividend whose amount may vary from time…

Q: c. On March 30, year 1, Mitz Co. declared a 30% ordinary share dividend. Shares were selling on the…

A: Given Information,

Q: On July 1, TruData Company issues 11,400 shares of its common stock with a $5 par value and a $40…

A: Goodwill at the time of acquisition means amount paid for acquisition which is over and above fair…

Q: On January 23, 10,000 shares of Tolle Company are acquired at a price of $30 per share plus a $100…

A: Stock investments: Stock investments are equity securities which claim ownership in the investee…

Q: On July 1, 2010, Bettina Company’s board of directors declared a 10% share dividend. The market…

A: The dividend is declared from the retained earnings of the business. The dividend can be paid in the…

Q: On July 1, 2010, Bettina Company's board of directors declared a 10% share dividend. The market…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: On July 1, 2002, Orange Company issued rights to stockholders to subscribe to additional shares of…

A: In the following question we have to identify number of shares issued as a result of right issue and…

Q: Skysong Inc. issues  500 shares of $ 10 par value common stock and  100 shares of $ 100 par value…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Right issue is the company jurisdiction to issue shares to existing shareholder before make issue…

Q: Assume that on February 12, First Union Co. purchases for cash 6,000 shares of Gilbert Co. stock at…

A: Total amount paid = (No. of shares x Price per share) + Brokerage fee = (6,000 shares  x $22 per…

Q: Prepare the journal entries for the original purchase, the dividend, and the sale under the cost…

A:

Q: Ogag company issued 1,000 shares of its P5 par value ordinary shares as payment for 1,000 hours of…

A: Par. value of Ordinary Shares :- P5  No. Of Equity Shares issued :- 1000 shares  Market Value of…

Q: During May 20x1, the entity issued 90,000 of its P10 par value ordinary shares for income through…

A: Retained earnings refers to that part of the accumulated net income of a corporation which is…

Q: On January 1, Vermont Corporation had 43,000 shares of $9 par value common stock issued and…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Next Level Morgan Corporation issues 500 “packages” of securities for $180 per package on December…

A: Journal entry is a primary entry that records the financial transactions initially.

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: The dividend for which the client is entitled to receive is calculated on the number of shares held…

Q: on October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a…

A: Share premium: It can be defined as the excess of the issue price of a share over its par value.

Q: 14. On March 4, 20x3, Evan Co. purchased 1,000 shares of LVC common stock (ordinary shares) at P80…

A: Equity shares are those shares which do not have preferential right on dividend and repayment of…

Q: On July 1, 2010, Bettina Company's board of directors declared a 10% share dividend. The market…

A: No. of shares issued under share dividend = outstanding ordinary shares x dividend rate = 400,000  x…

Q: On February 13, Solo Inc. reacquires 50,000 shares of its $1 par value common stock at the current…

A: Financial statements are the recording of business transactions in the various statements which are…

Q: At the start of 20X5, Happy Corp. had 20,000 shares of $5 par common stock issued and outstanding.…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Right issue Right issue which was proposed by the entity to its shareholders to acquire new shares…

Q: On May 27, Mama Mia Inc. reacquired 78,000 shares of its common stock at $8 per share. On August 3,…

A: Treasury stock are shares reacquired by the company. Treasury stock is shown at last in the…

Q: On October 17, ORANGE Company issued 15,000 shares of its ₱100 par ordinary share in acquiring a…

A: Given:  Number of shares issued 15,000 shares par value per share 100 selling price per share 120…

Q: On April 1, Kang Corporation purchased back 250 shares of $1 par value common stock for $20 per…

A: Treasury stock: When shares are purchased from the open market by the company then these shares are…

Q: On January 1, Vermont Corporation had 46,700 shares of $10 par value common stock issued and…

A: A journal entry is used to record a business arrangement in a company's accounting records. A…

Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of…

A: Cash increase 60,000 shares * P25  P1,500,000 Right shares increase  12000 shares * P50  P600,000…

Q: On July 1, TruData Company issues 11,400 shares of its common stock with a $5 par value and a $40…

A: Goodwill is the amount paid for acquisition which is over and above fair market value of assets…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: Investment Carrying Value= $224.75.

Q: Blossom Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Workings:

Q: What is the effect on the stockholders’ equity as a result of the issuance of stock rights? a.…

A: Total number of right shares = total number of shares / share per rights = 100000/5 = 20,000 Issue…