XYZ Company issued 10,000 shares of 5% preferred stock with a par value of $5 per share when the market value was $8 per share along with 30,000 shares of no-par common stock with a stated value of $2 per share. The market value of the common stock cannot be determined. The preferred stock and common stock were issued for a lump sum of $200,000. How much of the lump sum should be allocated to APIC-CS?

Q: Oriole Company has issued 2,500 shares of common stock and 500 shares of preferred stock for a lump…

A: Common stock and Preference stock are two types of stock or shares that is being issued by the…

Q: Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for €29.50 per share. Which…

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

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. was authorized to issue 500,000 ordinary shares with a par value of P10. One of its…

A: In case of subscriber of shares not paid total share subscription amount the subscription will be…

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: NEKO Inc., a corporation that issues ordinary shares with par value, completed a 2-for-1 stock split…

A: New par value per share = Current par value per share x 1/ stock split ratio where, Current par…

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

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: On April 1, 2XX1, Globe Corporation, a newly formed company, had the following share capital issued…

A: A) Ordinary share capital:- The amount of Ordinary share capital for Globe Corporation             =…

Q: journal entry to record the issuance, how much should be recorded for Paid-in Capital in Excess of…

A: Given in the question:- 500 Common Stock * $10 per share= $5000 200 Preferred Stock * $ 20 per…

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

A: Here allocations  should  be done on basis of fair value/ market  value

Q: (a) Prepare the journal entry for the issuance assuming the par value of the common stock was $5 and…

A:

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: Rinehart Corporation purchased from its stockholders 5,300 shares of its own previously issued stock…

A: Purchase price of each share = $275,600/5300                                                = $ 52

Q: Axle Corporation had 800,000 shares of common stock issued and outstanding at January 1. No commons…

A: Diluted Earning Per Share: The diluted earnings per share (diluted EPS) of a corporation is…

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: Black Diamond Inc. issues 2,500 shares of $1 par valuecommon stock and 1,000 shares of $50 par value…

A: a. Prepare journal entries for issuance of common shares and preferred shares when market value of…

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: A Company was incorporated on January 1, 2003, with the following authorized capitalizat 200,000…

A: Total contributed capital is the total amount of paid up capital.

Q: The outstanding capital stock of Vaughn Corporation consists of 2,100 shares of $100 par value, 7%…

A: Working Note:

Q: Ace Hardware Inc has the following information: • Dividends on its 10,000 cumulative preference…

A: Retained Earnings The calculation of retained earnings is added the net earning which are incurred…

Q: Elmer's Incorporated has the following stock outstanding on Dec. 31, 2013: Ordinary Shares, P100…

A: The company can issue shares by 3 ways. 1. Sale of Stock for Cash 2. Sale of Stock on Account 3.…

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: 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: 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: 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: 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: The Danice Corporation was incorporated on January 1, 2005, with the following authorized…

A: Balance sheet: The balance sheet shows the financial position of the company by recording all the…

Q: Weil Corporation has 80,000 shares of $8 par value common stock outstanding. Complete the following…

A: The stock dividend increases the number of outstanding shares and decreases the balance of retained…

Q: The outstanding capital stock of Shamrock Corporation consists of 2,200 shares of $100 par value, 7%…

A:

Q: Patience Co. was authorized to issue 400,000 ordinary shares with a stated value of P20.   The…

A: Share capital is considered as the portion of capital that is arisen from the investors. When an…

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

A: Stocks are issued at fair value. But, they should record as “par value for share capital” and…

Q: Western Moving Corporation was organized with authoriza-tion to issue 100,000 shares of $1 par value…

A: Given information is: Western Moving Corporation was organized with authorization to issue 100,000…

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

A:

Q: The YZA Corporation has 100,000 ordinary shares authorized, par value P10. As of the end of…

A: The question is based on the concept of Financial Accounting. Earning per share is calculated by…

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

A: Journal entry: The record of business transactions in a chronological order with equal amounts of…

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: 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: BFAR Corp. was authorized to issue 300,000 P7 par value ordinary shares. It received subscriptions…

A: Subscribed share capital is the shares that have been subscribed by the investors. These may be paid…

Q: Bashir Inc. issues 2,500 shares of $1 par value common stock and 1,000 shares of $50 par value…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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: Huhu Company was incorporated on January 1, 2003, with the following authorized capitalization:…

A: Contributed capital is the total amount received towards capital by the issue of shares.

Q: On September 1, Reedy Company has 500,000 shares of $30 par value ($330 market value) common stock…

A: Stock splits: Stock split means dividing single stock into multiple number of shares. Under stock…

Q: On January 1, Vermont Corporation had 40,000 shares of $10 par value common stock issued and…

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

Q: Trans Union Corporation issued 5,200 shares for $50 per share in the current year, and it issued…

A: When shares are sold or issued , cash account will be debited which increases the total assets and…

Q: Ahrens Industries is authorized to issue 250,000 shares of no-par common stock with a $6 stated…

A: Formula:  Additional paid-in capital = Number of common shares x ( Issue price - stated price )

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…

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.