ABC Corp. recorded the following journal entry on August 21, 2014: Cash Ordinary Share Capital Ordinary...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ABC Corp. recorded the following journal entry on August 21, 2014: Cash Ordinary Share Capital Ordinary Share Premium 42,250 32,500 9,750 The explanation reads "Issued ordinary share capital for P130 per share". What is the par value for this share capital, and how many shares were issued? ABC Corp. recorded the following journal entry on August 21, 2014: Cash Ordinary Share Capital Ordinary Share Premium 42,250 32,500 9,750 The explanation reads "Issued ordinary share capital for P130 per share". What is the par value for this share capital, and how many shares were issued?
Expert Answer:
Answer rating: 100% (QA)
Based on the journal entry provided we know that ABC Corp issued ordinary shares at a price of P130 ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Posted Date:
Students also viewed these accounting questions
-
On September 30, 2014, Gargiola Inc. issued $4 million of 10-year, 8%, convertible bonds for $4.6 million. The bonds pay interest on March 31 and September 30 and mature on September 30, 2024. Each...
-
The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively. The complete annual reports, including the notes to the financial statements, are available...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
A stream of particles of one size are 80% converted (SCMIash diffusion control, uniform gas environment) on passing through a reactor. If the reactor is made twice the size but with the same gas...
-
(a) A chain with uniform mass density per unit length hangs between two given points on two walls. Find the shape of the chain. Aside from an arbitrary additive constant, the function describing the...
-
We consider the discrete-time Cox-Ross-Rubinstein model on \(N+1\) time instants \(t=0,1, \ldots, N\), with a riskless asset whose price \(A_{t}\) evolves as \(A_{t}=A_{0}(1+r)^{t}\) with \(r...
-
What information is presented in a statement of retained earnings? What information is presented in a statement of stockholders' equity?
-
AM Express Inc. is considering the purchase of an additional delivery vehicle for $ 55,000 on January 1, 2014. The truck is expected to have a five-year life with an expected residual value of $...
-
Current Attempt in Progress Vaughn Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently is not...
-
Understanding the relationship between business and society and the ways in which business and society are part of an interactive system.
-
Plutonium-239 is created from uranium in nuclear reactors and has a half life of 24,000 years. How many molecules would be left from a 1-mole sample of 6.02 x 10^{23} molecules after two half lives?
-
As of Monday morning, the ledger balance and the availablebalance for a firm was $3,000. During the day, the firm wrote threechecks in the amounts of $750, $225, and $452. The firm deposited acheck...
-
Southeast U\'s campus book store sells course packs for $15.00each, the variable cost per pack is $12.00, fixed costs for thisoperation are $300,000, and annual sales are 95,000 packs. The...
-
Prove 1+ cos = sine @= 1-cos e Prove 1-cos 20+ sin 20 1+ cos 20+ sin 28 tan e
-
Harrison Forklift's pension expense includes a service cost of $13 million. Harrison began the year with a pension liability of $34 million (underfunded pension plan). ($ in millions) 1. Interest...
-
A payment stream consists of three payments: $2,500 due today,$3,000 due 100 days from today, and $3,500 due 240 days from today.What single payment, 80 days from today, is economically equivalentto...
-
The average adult dose of Vancocin is 1 0 0 ???? ???? every 9 hours or 1 0 ???? ???? ???? ???? ? day for a child greater than one year old. If the child weighs 9 0 ???? ???? ???? and is 3 years old,...
-
At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a seven-year operating lease agreement. The contract calls for quarterly rent payments of $25,000 each....
-
Are short-term creditors, long-term creditors, and shareholders interested primarily in the same characteristics of a company? Explain.
-
Selected financial ratios for Canadian National Rail- way (CN) and Canadian Pacific Railway (CP) are presented here for a recent year. Instructions (a) Comment on the relative liquidity of the two...
-
The Culleye Corporation reported the following solvency ratios: 2017 2016 Debt to total assets.....56.0%....................52.8% Interest coverage........5.1 times............3.3 times (a) Identify...
-
An income statement for Cheries Pizza is included in the Working Papers. 1. Use the following information to calculate the breakeven point in sales dollars and unit sales for July. The August...
-
Use the working papers and data from Work Together 15-2. Forms for completing this Work Together are provided in the Working Papers. Your instructor will guide you through the following examples. 1....
-
Use the February information from the Work Together above. An income statement for Wightman Lumber is included in the Working Papers. Work independently to complete this problem. 1, Prepare Wightman...
Study smarter with the SolutionInn App