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- Y Ltd issued 800 000 ordinary shares of 20 cents each at 25 cents each. At the point of issue all shares were fully called up. However, by the year-end R15 000 due on the share issue was yet to be received. What will be the amount reported as balance in the company’s Share Capital account? Select one: a. R200 000 b. R185 000 c. R160 000 d. R145 000On January 20, HK Corporation was formed with the capital of 100.000 TL by issuing 100.000 shares of stock with " 1 par value. Stocks were sold for 1.21 TL each, 1.000 TL commission was charged for selling stocks and the remaining receipts were deposited to the bank account of the business. a. 120.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 100.000 TL credit to 110-Stocks; 21.000 TL credit to 645-MS Capital Gain O b. 120.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 100.000 TL credit to 501-Unpaid Capital; 21.000 TL credit to 520-A. Paid-in Capital O c. 121.000 TL debit to 102-Bank and 100.000 TL credit to 501-Unpaid Capital; 20.000 TL credit to 520-A. Paid-in Capital; 1.000 TL credit to 653-Com. Expense d. 120.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 100.000 TL credit to 110-Stocks; 21.000 TL credit to 520-A. Paid-in CapitalLAVENDER Corporation issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of its ₱80 par value preference share capital for a total amount of ₱1,800,000. At this date, the company's ordinary shares are selling at ₱80 per share and the preference shares are at ₱100 per share. What amount of the proceeds should be allocated to the preference shares? a. ₱ 800,000 b. ₱ 640,000 c. ₱ 600,000 d. ₱ 400,000
- A Company issued 20,000 shares of its ₱70 par value ordinary share capital and 8,000 of its ₱80 par value preference share capital for a total amount of ₱1,800,000. At this date, the company's ordinary shares are selling at ₱80 per share and the preference shares are at ₱100 per share. What amount of the proceeds should be allocated to the preference shares? a. ₱ 600,000 b. ₱ 800,000 c. ₱ 400,000 d. ₱ 640,000Y Ltd issued 800 000 ordinary shares of 20 cents each at 25 cents each. At the point of issue all shares were fully called up. However, by the year-end R15 000 due on the share issue was yet to be received. What will be the amount reported as balance in the company’s Share Capital account? R145 000 or R185 000 or R200 000 or R160 0002. Twilight Co. has an authorized capitalization of P2,000.000 divided into 20,000 shares with par value per share of P100 Twilight Co. received a cash subscription for 5,000 shares at P120 per share on January 1, 20x1 and a subscription for 2.000 shares at P160 per share on January 31, 20x1. Requirement: Provide the journal entries.
- On June 30, HK Corporation was formed with the capital of 200.000 TL by issuing 200.000 shares of stock with ¨ 1 par value. Stocks were sold for 1.21 TL each, 1.000 TL commission was charged for selling stocks and the remaining receipts were deposited to the bank account of the business. a.242.000 TL debit to 102-Bank and 200.000 TL credit to 501-Unpaid Capital; 41.000 TL credit to 520-A. Paid-in Capital; 1.000 TL credit to 653-Com. Expense b.241.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 200.000 TL credit to 501-Unpaid Capital; 42.000 TL credit to 520-A. Paid-in Capital c.241.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 200.000 TL credit to 110-Stocks; 42.000 TL credit to 520-A. Paid-in Capital d.241.000 TL debit to 102-Bank; 1.000 TL debit to 653-Com. Expense and 200.000 TL credit to 110-Stocks; 42.000 TL credit to 645-MS Capital GainXYZ SAOG has in issue 5 million, RO 1 equity share. The company decided to make a bonus issue in the ratio of 2 for 5 shares held. Prior to issue of bonus the company had Share premium of OMR 2,500,000. Which of the following journal entry is Correct in respect of issuing bonus shares? a. Debit Share premium OMR 2,000,000 Credit Share Capital OMR 2,000,000 b. Debit Share capital OMR 7,000,000 Credit Share premium OMR 7,000,000 c. Debit Share capital OMR 2,500,000 Credit Share premium OMR 2,500,000 d. Debit Share premium OMR 500,000 Credit Share Capital OMR 500,000AB Co issues 5.000 50c shares for $6.000. Required: What are the amounts for share capital and share premium in the statement of financial position?
- XYZ SAOG has in issue 5 million, RO 1 equity share. The company decided to make a bonus issue in the ratio of 2 for 5 shares held. Prior to issue of bonus the company had Share premium of OMR 2,500,000. Which of the following journal entry is Correct in respect of issuing bonus shares? Debit Share premium OMR 2,000,000 Credit Share Capital OMR 2,000,000 O b. Debit Share capital OMR 2,500,000 Credit Share premium OMR 2,500,000 O a. O c. Debit Share capital OMR 7,000,000 Credit Share premium OMR 7,000,000 O d. Debit Share premium OMR 500,000 Credit Share Capital OMR 500,000 Clear my choiceAAA Corporation issues 1,000 P5 par value ordinary shares and 1,000 P20 par value preference shares for a lump-sum of P60,000. At the issue date, the ordinary shares were selling for P36 and the preference shares were selling for P28. How much is recorded in AAA’s statement of financial position for the preference shares? aP26,250 B. P28,750 C. P31,000 D. P36,000b) East Company issued 1,000 shares with P5 par to Howe as compensation for services. By what amount should the share premium accoùnt increase as a result 1. Answer the following questions: a) Ivy Company provided the following accounts at year-end: Preference Share Capital, P100 par P5,000,000 Ordinary Share Capital, P10 par Subscribed Preference Share Capital Subscribed Ordinary Share Capital Subscriptions Receivable - Ordinary Subscriptions Receivable -Preference Share Premium – Preference Share Share Premium – Ordinary Share 2,000,000 1,800,000 1,000,000 180,000 190,000 300,000 220.000 680,000 Treasury Share - Preference (700 shares at cost) Share Premium - Preference Treasury Share 850,000 Retained Earnings 2,000,000 How much is total shareholders' equity at yearend? b) East Company issued 1,000 shares with P5 par to Howe as compensation fo. 1.000 hours of legal services performed. Howe bills P160 per hour for his loet services. By what amount should the share premium accoùnt…
