Item No. 10 is based on the following information: cod 010 EL bna S...20M mestsina310 26W vnsqmo) Ov618to sninnisedSweety Corporation sold 4,000 ordinary shares with a par value of P 100Osmontu95per share to a subscriber for P 105 per share receiving an initial payment of 30%of the subscription price. After repeated demands for the subscriber to pay the19DTONS 67remaining balance but to no avail, the corporation was forced to sell thedelinquent shares at a public auction, incurring advertising costs of P 24,000.SuceHP10. What should be the minimum bid price for the delinquent shares?08a. P 280,000. art now briel to 1061 8 16 c.P 304,000.b. P 294,000.d. P 318,000.as muime19 3162 vienibo not fogs ove18 bluoria nuori ÖW SE

A share or stock is classified as a delinquent share if the unpaid subscription is not paid within…

Item No. 10 is based on the following information: EL bno S.I.20 met mo) ove18 to besinsgro Sweety Corporation sold 4,000 ordinary shares with a par value of P 100 per share to a subscriber for P 105 per share receiving an initial payment of 30% of the subscription price. After repeated demands for the subscriber to pay the remaining balance but to no avail, the corporation was forced to sell the delinquent shares at a public auction, incurring advertising costs of P 24,000. 10. What should be the minimum bid price for the delinquent shares? sriw bris 08.992 a. P 280,000. C. P 304,000. b. P 294,000. d. P 318,000.

Item No. 10 is based on the following information: EL bno S.I.20 met mo) ove18 to besinsgro Sweety Corporation sold 4,000 ordinary shares with a par value of P 100 per share to a subscriber for P 105 per share receiving an initial payment of 30% of the subscription price. After repeated demands for the subscriber to pay the remaining balance but to no avail, the corporation was forced to sell the delinquent shares at a public auction, incurring advertising costs of P 24,000. 10. What should be the minimum bid price for the delinquent shares? sriw bris 08.992 a. P 280,000. C. P 304,000. b. P 294,000. d. P 318,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Provide complete solution: ABC Company issued 1,000 shares with P5 par to XYZ Company as compensation for 1,000 hours of legal services performed. XYZ Company usually bills P150 per hour for legal services. On the date of issuance, the share was trading on a public exchange at P140. By what amount should the share premium account increase as a result of the transaction? A. P 160,000B. P 145,000C. P 135,000D. P 155,000
Item No. 2 is based on the following information: Virma Corporation sold to a subscriber 500 shares of its P 30 par value ordinary shares at P 32 per share receiving a 30% down payment. 2. In recording this transaction: a. Ordinary Share Capital will be credited in the amount of P 15,000. Ordinary Share Capital will be credited in the amount of P 16,000. b. c. Ordinary Share Premium will be credited in the amount of P 4,500. d. Subscribed Ordinary Share Capital will be credited in the amount of P 15,000.
FPJ Inc. received subscription for 5,250 Preference Shares at P 10 above par value of P 200 per share. After a down payment of P 125 per share from all the subscribers, how much is the balance of the Subscription
Record the foregoing transactions E. Received subscription for 20,000 shares at P550 per share,500 par value, receiving 25% down payment. F. Collected balance of the subscription price on the 12,000 shares subscribed in (e) and share certificates were accordingly issued.
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