owners invested $7,000 cash in the corporation in exchange for ordinary shares. cash Share Capital bank corporation
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Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…
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Q: 1. The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…
A: solution : The charter of a corporation provides for the issuance of 100,000 shares of common stock.…
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Q: owners invested $7,000 cash in the corporation in exchange for ordinary shares.
A: Answer
Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…
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- Mary Henderson invested $45,000 cash in the company in exchange for its common stock.Received $17000 cash investment from the business owners and distributed 1000 shares of common stock to them with a market price of $17 per share? which accounts are affected in this transactions?The following information has been taken from the ledger accounts of Compassion Company: Total net income since incorporation 3,500,000 Total cash dividends paid 350,000 Fair value of company's investment in Kindness company declared as property as property dividends 600,000 Proceeds from sale of donates shares 150,500 Total value of stock dividends distributed 420,000 Gains on treasury share transactions 375,000 Unamortized premium on bonds payable 413,200 Appropriated for contingencies 700,000 What is the current balance of unappropriated retained earnings?
- Texas, Inc., sold common stock for $560,000 and preferred stock for $36,000 during the current year. In addition, the company purchased treasury stock for $35,000 and paid dividends on common and preferred stock for $24,000. Determine the amount of cash provided by or used for financing activities during the year.paws recieved 30,000 cash and issued common shares to shareholdersThe charter of a corporation provides for the issuance of 104,020 shares of common stock. Assume that 35,959 shares were originally issued and 3,317 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared?
- The following selected transactions occurred during Trio Networks Corporation’s first year of operations: 2020 Jan. 15 Issued 2,000 common shares to the corporation’s promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $31,400. Feb. 21 14,500 common shares were issued for cash of $13 per share. Mar. 9 6,000 preferred shares were issued for cash totalling $110,100. Aug. 15 55,000 common shares were issued in exchange for land, building, and equipment with appraised values of $314,000, $419,000, and $111,000, respectively. Required:Prepare journal entries. 1 Record the issue of common shares to promoters. 2 Record the issue of common shares for cash. 3 Record the issue of preferred shares for cash. 4 Record the issue of common shares in exchange for land, building, and equipment.The following selected transactions occurred during Trio Networks Corporation’s first year of operations: 2020 Jan. 15 Issued 2,000 common shares to the corporation’s promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $32,000. Feb. 21 17,500 common shares were issued for cash of $13 per share. Mar. 9 6,000 preferred shares were issued for cash totalling $113,100. Aug. 15 55,000 common shares were issued in exchange for land, building, and equipment with appraised values of $320,000, $425,000, and $117,000, respectively. Required:Prepare journal entries.Malit Corporation has a total shareholders' equity of P1,000,000, including retained earnings of P190,000. The cash balance is P350,000. The maximum cash dividend the corporation can declare and pay is
- The charter of a corporation provides for the issuance of 104,571 shares of common stock. Assume that 44,035 shares were originally issued and 4,245 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?A corporation purchases 5,000 shares of its own $2 par common stock, originally issued at par, for $8per share. What are cash flows from financing?The following selected transactions occurred during Trio Networks Corporation’s first year of operations: 2023 Jan. 15 Issued 2,000 common shares to the corporation’s promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $31,100. Feb. 21 13,000 common shares were issued for cash of $13 per share. Mar. 9 6,000 preferred shares were issued for cash totalling $108,600. Aug. 15 55,000 common shares were issued in exchange for land, building, and equipment with appraised values of $311,000, $416,000, and $108,000, respectively. Only typing answer Please explain step by step
