Kindly answer numbers 7, 8, and 9. Show complete solution and explanation if applicable. On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary sharesand 2,000 P10 par convertible preference shares for a lump sum price ofP45,000. At this date, Nokia's ordinary and preference were selling at P18and P14 per share, respectively.С.9.What is the amount credited to Share PremiumOrdinary?10.What is the amount credited to Share PremiumPreference?D.Bosch Corporation was organized on January 1, 2018. It was authorized bythe Securities and Exchange Commission to issue share capital ofP5,000,000 divided into 50,000 shares of P100 par value ordinary sharecapital. The incorporators immediately subscribed to 12,500 shares at par.How much must be paid by the incorporators uponsubscription in order that it would meet therequirements of the SEC?11.On April 1, 2018, Globe Corporation, a newly formed company, had thefollowing share capital issued and outstanding:E.Ordinary Share Capital, no par, P10 stated value, 20,000 sharesoriginally issued at P30 per share.Preference Share Capital, P100 par, 600 shares originally issued atP500 per share.What are the amounts of Ordinary Share Capital,Preference Share Capital, and Additional Paid inCapital, respectively, that Globe Corporation shouldreport in its April 1, 2018 statement of shareholders'equity?12. В.The shareholders' equity of Janet Corporation at the end of 2018 and 2017.are as follows:2018P1,000,0002017P 600,0001,800,00012% Preference Share, P100 parOrdinary Share, P20 parShare Premium - PreferenceShare Premium – Ordinary2,000,000160,000800,000400,000What is the total number of ordinary shares issued atDecember 31, 2018?_4.5.How many preference shares were issued during2018?What is the average issue price per share of thepreference issued in 2018?6.7.How many ordinary shares were issued in 2018?8.What is the average issue price per share of theordinary shares issued in 2018?11B.

2018 2017 12% preference share 1000000 600000 Ordinary share 2000000 1800000 Share premium -…

The shareholders' equity of Janet Corporation at the end of 2018 and 2017. are as follows: 2018 P1,000,000 2017 P 600,000 1,800,000 12% Preference Share, P100 par Ordinary Share, P20 par Share Premium - Preference Share Premium- Ordinary 2,000,000 160,000 800,000 400,000 4. What is the total number of ordinary shares issued at December 31, 2018? 5. How many preference shares were issued during 2018? 6. What is the average issue price per share of the preference issued in 2018? _7. How many ordinary shares were issued in 2018? 8. What is the average issue price per share of the ordinary shares issued in 2018? 111 B.

The shareholders' equity of Janet Corporation at the end of 2018 and 2017. are as follows: 2018 P1,000,000 2017 P 600,000 1,800,000 12% Preference Share, P100 par Ordinary Share, P20 par Share Premium - Preference Share Premium- Ordinary 2,000,000 160,000 800,000 400,000 4. What is the total number of ordinary shares issued at December 31, 2018? 5. How many preference shares were issued during 2018? 6. What is the average issue price per share of the preference issued in 2018? _7. How many ordinary shares were issued in 2018? 8. What is the average issue price per share of the ordinary shares issued in 2018? 111 B.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
On July 2, 2018, McGraw Corporation issued 500,000 of convertible bonds. Each 1,000 bond could be converted into 20 shares of the companys 5 par value stock. On July 3, 2020, when the bonds had an unamortized discount of 7,400 and the market value of the McGraw shares was 52 per share, all the bonds were converted into common stock. Required: 1. Prepare the journal entry to record the conversion of the bonds under (a) the book value method and (b) the market value method. 2. Compute the companys debt-to-equity ratio (total liabilities divided by total shareholders equity, as described in Chapter 6) under each alternative. Assume the companys other liabilities are 2 million and shareholders equity before the conversion is 3 million. 3. Assume the company uses IFRS and issued the bonds for 487,500 on July 2, 2018. On this date, it determined that the fair value of each bond was 930 and the fair value of the conversion option was 45 per bond. Prepare the journal entry to record the issuance of the bonds.
Juniper Company is authorized to issue 5,000,000 shares of $2 par value common stock. In conjunction with its incorporation process and the IPO, the company has the following transaction: Mar. 1, issued 4,000 shares of stock in exchange for equipment worth $250,000. Journalize the transaction.
Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
Waseca Company had 5 convertible securities outstanding during all of 2019. It paid the appropriate interest (and amortized any related premium or discount using the straight line method) and dividends on each security during 2019. Each of the convertible securities is described in the following table: Additional data: Net income for 2019 totaled 119,460. The weighted average number of common shares outstanding during 2019 was 40,000 shares. No share options or warrants arc outstanding. The effective corporate income tax rate is 30%. Required: 1. Prepare a schedule that lists the impact of the assumed conversion of each convertible security on diluted earnings per share. 2. Prepare a ranking of the order in which each of the convertible securities should be included in diluted earnings per share. 3. Compute basic earnings per share. 4. Compute diluted earnings per share. 5. Indicate the amount(s) of the earnings per share that Waseca would report on its 2019 income statement.
Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?