Abby Co issues 2,000 shares of $10 par value stock for $80,000, the credit to "paid-in capital in excess of par" would be $ 60,000 $ 80,000 $78,000 $ 2,000 None of these
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- A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be________. A.$11,985 B.$12,000 C.$15 D.$10,150A company issued 50 shares of \$1.00 par value common stock for $ 9,000 . The credit to additional paid - in capital would be: A. $ 50 B. $ 9,050 C. $ 8,050 D. 9,000If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for $66,000
- QUESTION 2Naruto Bakery has a capital structure consisting of:42,000 issued and paid-up ordinary shares RM105,0005,000 issued and paid-up 10% Preference shares RM15,0008% Bonds (10-year maturity) RM30,000The balance of retained earning as at 1 January 2021 was RM75,000. The market priceper unit of the company’s financial instruments are as follows:Ordinary shares : RM2.50 (last dividend paid was RM0.50; growth rate is 5%Preference shares : RM3.008% Bonds : RM890.00 (par value RM1,000)The company is considering to invest in new project worth RM80,000. The floatationcost to sell more shares and bonds are 5%. The corporate tax rate 25%.You are required to calculate (show all workings):b. The company’s cost of debt, preference share, retained earnings and newissuance of ordinary shares.Answer with computation and explanation X Company sold 1,000 ordinary shares at par of P20 per share for P50,000. The journal entry to record the transaction would have a a credit to ordinary shares for P50,000. b credit to share premium for P20,000 C. credit to ordinary shares of P20,000. d. debit to share premium of P30,000QUESTION 1 Ava Consulting issued 1180 shares of previously unissued common stock with a par value of $1. The selling price for the stock was $5 share The credit to Additional Paid in Capital - Common Stock would be $ per
- MC Qu. 11-64 A company issues... A company issues 1 million shares of common stock with a par value of $0.14 for $16.20 a share. The entry to record this transaction includes a debit to Cash for: Multiple Choice $140,000 and a credit to Common Stock for $140,000. $16,200,000 and a credit to Common Stock for $16,200,000. $16,200,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000. $140,000, a debit to Capital Receivable for $16,060,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000.answr with explanation and computation A Company's total number of shares issued and outstanding is 100,000 If the shares were issued 20% above par of P100, how much is the legal capital? a. P 2,000,000 b. P10,000,000 c. P12,000,000 d. P22,000,000EXERCISE 7 The capital accounts for Red Stone Company on July 1,2020 are as follows: Ordinary Share Capital, P 10 par, 100, 000 shares issued and outstanding P 1,000,000 Share Premium 500,000 Retained Earnings 3,135,000 The company's ordinary shares are currently selling at P20. REQUIRED: Journalize the following independent transactions: a.) A 10% bonus issue is declared and issued b.) A 30% bonus issue is declared and issued c.) A 2-for-l share split is declared and issued
- A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additionalpaid-in capital would be ________.A. $11,985B. $12,000C. $15D. $10,150A company issued 220 shares of $100 par value common stock for $26,200 cash. The total amount of paid-in capital in excess of par is: Multiple Choice $100. $2,200. $4,200. 633 PM 3/28/2022Quèstion 1 On January 1, 2018, Manama Company has 8% 80,000 shares of $10 par value, Cumulative preferred stock and 140,000 shares of common stock authorized, issued and outstanding at $5 par value. The Company declared and paid cash dividends as follows: Year Dividends $50,000 $110,000 $190,000 2018 2019 2020 Required: In the below table, determine the amount of cash dividends distributed to each class of shares over the three years. Please: Present each year in a separate line.