The company issued for P1,000,000 cash, 1,000 shares of P200 par value Preference share and 2,000 shares of P100 ordinary share. The preference share has a fair value of P240 on the date of sale. No fair value available for the ordinary share. How much is credited to Share Premium – Ordinary Shares?

Q: Ball Company issued 50,000 shares of its P100 par ordinary and 80,000 shares of its P50 convertible…

A: Par value of preference shares=Number of shares×Par value per share=80,000×P 50=P 4,000,000

Q: The following capital accounts are shown in the statement of financial position of George…

A: Amount debited to accumulated profit and losses account = Cost of treasury stock - Sale value of…

Q: The company issued for P1,200,000 cash, 4,000 shares of P200 par value Preference share and 1,000…

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

Q: Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per…

A: Solution:- Calculation of the how much allocated to the common stock as follows under:-

Q: BFAR Corp. has ordinary share capital with par value of P50, and preference share capital with par…

A: The balance of the Share Premium account at the end of the year is P490,000.

Q: ABC Ltd. has decided to redeem its preference shares, at a premium of 5%, with the following…

A: Journal entries are used to record various transactions which was performed by the business during…

Q: JKL:o. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par…

A: Definition: Preferred stock: Preferred stock is the cash raised by the company by issuing preferred…

Q: On June 30, 2021 Jungkook Company issued 1,000 of P10 par ordinary shares and 2,000 of P10 par…

A: Issue value of preference shares = Lumpsum price x Total market value of preference shares / Total…

Q: Avalanche Inc. revealed the following information for the year ended December 31, 2021: Preference…

A: Legal capital is the par value of total outstanding shares . It is that amount of company capital…

Q: Relay Company is permitted to issue 500,000 ordinary shares of P10 par value. During the first year…

A: Contributed Capital is the total amount contributed by the owners and also includes  shares premium.…

Q: CFAS Company issued 100,000, P50 par value, ordinary shares and 20,000, P100 par value, preference…

A: Share premium is an excess value of proceeds over the par value of the share. It can be calculated…

Q: On December 1, 2018, Ban Company exchanged 40,000 shares of its P10 par value ordinary shares held…

A: Introduction:- The following basic information as follows:- Ban Company exchanged 40,000 shares of…

Q: Caramel Corporation has 5,000 shares of stock outstanding. In a qualifying stock redemption, Caramel…

A: Earnings and profits (E&P) measures the company's economic ability pertaining to payment of…

Q: On July 1. 2021, Funk Company has 400.000 shares of P25 par ordinary outstanding and the market…

A: Cost per treasury stock = Total costs / no. of treasury stock = P1650000/(50000*5) shares = P6.6 per…

Q: Point Company issued 25,000 shares of its P50 par ordinary and 40,000 shares of its P25 redeemable…

A: Here in this question, we are required to determine the share premium of equity shares. When equity…

Q: On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par…

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

Q: LEE Company had the following amounts in the shareholders’ equity on January 1, 2020: Preference…

A: Accumulated Profits are part of net income that is not distributed to the equity shareholders at the…

Q: Use the following information in answering the next item(s): FORGIVENESS INC. is authorized to issue…

A: When the shares of a company are issued at a price above and over the face value, it is said to be…

Q: A piece of equipment is acquired by an entity by issuing 10,000 shares of P10 par ordinary shares.…

A: Cost of the equipment =List price - Trade discount - Cash discount where, Cash discount = (List…

Q: COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par…

A:

Q: Ball Company issued 50,000 shares of its P100 par ordinary and 80,000 shares of its P50 convertible…

A: The share premium is the excess amount received on issuance of shares as compared to par value.

Q: Victory Company issued 8,000 ordinary shares with P200 par value and 20,000 preference shares with…

A: Market value of ordinary shares = no. of  ordinary shares x Selling value per share = 8000*360 =…

Q: 35.On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000…

A: Disclaimer: "Since you have asked multiple question we answered first question for you if you want…

Q: Charice Company revealed the following shareholder’s equity at year end: Preference share capital,…

A: Legal Capital = Preference Share Capital + Ordinary Share Capital  + Subscribed Ordinary Share…

Q: five Ordinary shares each. Net income for the year is BD200,000. Dividends declared during 2020 were…

A: Financial reporting is the process of documenting and communicating financial operations and…

Q: The following are found in the trial balance of M Corporation at December 31, 2021: Authorized…

A: The shares available for subscription are comprised of no of shares are issued under subscription…

Q: On June 30, 2021 BANANA Company issued 1,000 of P10 par ordinary shares and 2,000 of P10 par…

A: The question is based on the concept of Financial Accounting.

Q: Z Ltd allotted one million shares of 50 cents each, as 35 cents called up per share, requiring an…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: Gates Corp. received a donation of 2,000 shares of its P5 par value ordinary shares from a…

A: Donated Treasury share :- Effect on Treasury stock and a profit or revenue account :- Treasury…

Q: The following information is provided for Mario Company: Retained earnings, P350,000 Preference…

A: Total contributed capital =  Preference share capital + Premium on ordinary shares + Share Premium…

Q: Fraudi Company issued 50,000 shares of its P100 par ordinary and 80,000 shares of its P50…

A: Solution Given Number of ordinary shares 50000 Number of preference shares 80000…

Q: The entity received P7,580,000 cash from the issuance of its 9%, 3-year P8,000,000 par value…

A: The shares on which the dividend is paid before equity shares and the ones preferred at the time of…

Q: ABC Co. issued 20,000 shares of its P10 par value ordinary share and 40,000 shares of its P10 par…

A: Value of common stock =20000 ×$20                         =$400,000 Value of convertible preference…

Q: Mall Company issued 60.000, P50 par value, ordinary shares and 20.000, P100 par value, preference…

A: Solution: Fair market value of ordinary shares = 60000*P100 = P6,000,000 Fair market value preferred…

Q: On 1 January 2020, the company "A" S.A. had a common share capital of 2,000,000€, differences from…

A: Date Particulars Amount in Dr. Amount in Cr. 1/5/2020 Ordinary Share Capital A/c    To Bank A/c…

Q: MIRANA Co. owes P150,000 loan payable to RIKIMARU UNIVERSAL BANK as of June 30, 2014. RIKIMARU…

A: the issue of stock or share is the methodology where undertakings dispense new offers to the…

Q: CFAS Company received a donation of 2,000 shares of its P5 par value ordinary shares from a…

A: Given information, No of shares received =2,000 Issue price =P25 Par value =P5 Fair value =P35…

Q: On December 31, 20x1, Cassy Co. issued 10,000 shares with par value of P400 per share in settlement…

A: Determination of Gain / loss in Extinguishment of the Debt It is the practice of the big concerned…

Q: Fblue acquired land with a fair value of P10,500,000 and paid for it in full by issuing P50 par…

A: The par value of shares means the value that is stated by the company at the time of the issue. The…

Q: 1. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year…

A: Donated capital refers to the assets provided to the entity as the gift, this amount is reported at…

Q: Fiona Company issued 21,500 ordinary shares with par value of P85 in exchange for land with a fair…

A: The amount of ordinary share premium is equal to the consideration received in excess of the par…

Q: Petron Company issued 80.000 new shares of its P5 par value ordinary shares valued at P12 per share…

A: This is a business combination question and solved following the PFRS 103. The Acquisition relation…

Q: 1. Avalanche Inc. revealed the following information for the year ended December 31. 2021…

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

Q: the beginning of current year, CFAS Company issued 50,000 shares of P10 par value for P113 per…

A: under the constructive retirement it is used when there is a function that share will not be…

Q: Bulla Company issues 4,000 shares of its P5 par value ordinary share having a fair value of P25 per…

A: Based on the given data, Fair value of Common Stock = 4,000 x P25 = P100,000 Fair value of Preferred…

Q: A piece of equipment is acquired by an entity by issuing 10,000 shares of P10 par ordinary shares.…

A: Cost of the equipment will be total market price of share issued

Q: Nicef Company had 5,000 shares of P500 par value ordinary shares outstanding and 500 shares of…

A: Formula: Book value per share = ( Total shareholders' equity - preference shareholders liquidation…

Q: 21, Pak ordinary shares are selling at P180/share. [ 5/share incurring P2,000 transaction costs on…

A: Solution calculation of gain on sale of shares Cost of shares = (1000 x 150) + 4,000 = 154,000 Now…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.