Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value of P25 per share and 15,000 shares of its P15 par value preferred stock having a market value of P20 per share for a lump sum of P480,000.  How much of the proceeds would be allocated to the common stock? a. P250,000 b. P255,000 c. P218,182 d. P50,000

Q: 2. LAVENDER Corporation issued 20,000 shares of its P70 par value ordinary share capital and 8,000…

A: Correct option is C. i.e P400,000

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: A Company issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of its ₱80 par…

A: Introduction: Additional paid in capital: Preference shares are issued at more than PAR value then…

Q: Swifty Corporation sold 310 shares of treasury stock for $35 per share. The cost for the shares was…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: GRAPES Company provided the following data for the year: a. Sold 25,000 preference shares, 12%, P50…

A:

Q: Manning Company issued 10,000 shares of its $5 par value common stock having a fair value of $25 per…

A: Fair value of common (10,000*$25) $250,000   Fair value of preferred (15,000*$20) $300,000…

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: E. Company A has P3,000,000 million issue of cumulative preference share comprising of 100,000…

A: Cumulative Preference shares: It is is  preferred stock  for which dividend is accumulated if…

Q: ABC Company issued 15,000 shares of its P100 par common stock in acquiring a land that was recently…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: ABC Co. has authorized share capital of 10,000 8% preference shares with P100 par value and 100,000…

A: Solution: The stockholders' equity section of a balance sheet represents the total contributiion of…

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: 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: P40 to be held as treasury e. Sold 3,000 treasury ordinary shares at P50 f. Share split up for…

A: To find the following as, Total outstanding share Total issues share Shareholder's equity

Q: A. Fernando Corporation is authorized to issue 40,000 shares of P85 par value ordinary shares.…

A: Common stock issued by the company should always be recorded at par value. Value above than par…

Q: LAVENDER Corporation issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of…

A: Total market value of preferrence shares = No. of preferrence shares x market value per share =…

Q: oder, Inc. has 100,000 shares of P10 par value common stock and 50,000 shares of P10 par value, 6%,…

A: We know that preference shares are hybrid instruments that have the characteristics of both debt and…

Q: ARIES Inc. had the following transactions in the ordinary shares of May Corporation: anuary 5 Bought…

A: Company means the form of business where management is separately from owner and have perpetual…

Q: On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary…

A: Solution:- Given, On December 1, 2020 Line Corp., received a donation of 200 shares @$5 par common…

Q: Xenon Company issued 5,000 shares of its P5 par value common stock having a fair value of P25 per…

A: Proceeds allocated to the preferred stock = Market value of Preferred StockMarket Value of Common…

Q: GRAPES Company provided the following data for the year: a. Sold 25,000 preference shares, 12%, P50…

A: Stock Split: Face value of the shares of companies is split in stock split and there is no…

Q: ABC Co. has authorized share capital of 10,000 8% participating preference shares with P100 par…

A: The calculation of the amount to be received by Mr. Chris Pin is as follows:

Q: PAPAYA Corporation is authorized to issue ₱1,000,000 share capital dividend into 10,000 shares with…

A: solution given Number of authorized shares 10000 Par  value of shares 100 Number of…

Q: AAA Corporation issues 1,000 P5 par value ordinary shares and 1,000 P20 par value preference shares…

A: The following information is given: The ordinary shares were selling = P36 The preference shares…

Q: A. Fernando Corporation is authorized to issue 400,000 shares of P85 par value ordinary shares.…

A: Given that, Fernando Corporation is authorized to issue 400,000 shares Par value per share = P85

Q: PAPAYA Corporation is authorized to issue ₱1,000,000 share capital dividend into 10,000 shares with…

A: Formula: Asset increase = Sale value - PAR value

Q: PAPAYA Corporation is authorized to issue ₱1,000,000 share capital dividend into 10,000 shares with…

A: Corporation's asset increase by = No. of shares issued x issue price per share

Q: Coronado Industries has issued 1,500 shares of common stock and 300 shares of preferred stock for a…

A: The issue price of the stock could be issued at par, premium or discount. If the proceed from…

Q: Casper Energy Exploration reports that the corporation's assets are valued at $120,000,000, its…

A: solution given Total assets 120000000 Total liabilities 76000000 Number of shares…

Q: Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par…

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

Q: On September 30,2107, Maling Company issued 3,000 shares of its P10 par value ordinary share in…

A: Retained earnings can be referred to as those earnings which are kept aside by the company after…

Q: Norton Company issues 4,000 shares of its $5 par value common stock having a fair value of $25 per…

A: The company has the right to raise funds with different methods such as by issuing common stock,…

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: 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: Securities and Exchange Commissi ordinary share of P100 par value. shares were sold and issued at…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding…

A: Preference shares are that type of shares which have pre-determined rate of dividend. The company…

Q: Sheffield Corp. issues 5100 shares of its $10 par value common stock having a fair value of $30 per…

A: Fair value of common stock = 5,100*$30 Fair value of common stock = $153,000   Fair value of…

Q: Mall Company issued 60,000, P50 par value, ordinary shares and 20,000, P100 par value, preference…

A: The statement of retained earnings reflects the change in retained earnings during a specific period

Q: Al Anwar Company has 10,000 shares authorized, OMR2 par value, 4,000 shares issued and outstanding…

A: Given that: Number of shares repurchased = 400 shares at a cost of OMR 5 per share Shares reissued =…

Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…

A: Since multiple sub-parts are posted, only the first three sub-parts will be answered. Kindly…

Q: ABC Co. has authorized share capital of 10,000 8% cumulative preference shares with P100 par value…

A: Voting shares are the shares which provide right to the shareholders to vote in the decision making…

Q: Crane Company issued 9000 shares of its $5 par value common stock having a fair value of $20 per…

A: Total fair value of common stock = No. of common stock x Fair value per share = 9000 shares x $20…

Q: The LL Company will issue shares of P10 par value common stock for all the assets and liabilities of…

A: To calculate the number of shares to be issued by LL, we need to compute the Net asset 1)  The…

Q: LAVENDER Corporation issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of…

A: Formula: Preference share capital = Number of shares issued x PAR Value of each preference share.

Q: Fernando Corporation is authorized to issue 400,000 shares of P85 par value ordinary shares.…

A: Journal entry is an accounting process under which all relevant business transaction are recorded in…

Q: If Kiner Company issues 1,000 shares of P5 par value common stock for P7o,000, the account Common…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

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: To have an income from acquisition of P400,000, the number of shares to be issued by LL should be?

A: Acquisition cost refers to those total costs which a company paid to another company at the time of…

Q: Co. has 260,000 outstanding (P10 par) ordinary shares and retained earnings balance of P1,780,000 or…

A:

Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The…

A: Cash received = 10,000 x $75 = $750,000 Preferred stock = 10,000 x $50 = $500,000 Excess = 10,000 x…

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.