What is the balance of the Ordinary Share capital on January 2?

What is the balance of the Share premium-Ordinary shares on January 2?

What is the balance of the Share premium-Ordinary shares on January 3?

What is the balance of the Share premium-Ordinary shares on February 1?

What is the balance of the Subscribed share capital on April 1?

What is the balance of the Share premium for all kinds of shares on June 1?

What is the balance of the Preference share capital on June 1?

What is the balance of the Ordinary Share capital on July 1?

What is the balance of the Share premium for all kinds of shares on July 1?

What is the balance of the Ordinary Share capital on August 1?

What is the balance of the Share premium for all kinds of shares on August 1?

What is the Total Share capital as at August 1?

 

 

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HOT TEA Corporation began operations on January 1, 2021. You were hired as the HOT TEA's Accountant and was tasked to prepare the share capital section of the shareholder's equity as at December 31, 2021. The following transactions relating to shareholder's equity occurred in the first year of the corporation's operations: 2021 Jan 1 Authorized the issuance of 2 million shares of P5 par value ordinary shares and 100,000 shares of P100 par value, 10% cumulative preference shares. Jan 2 Issued 200,000 shares of ordinary shares for P12 cash per share, this P12 per share is known as the fair market value of HOT TEA's share and its quoted price. Jan 3 Issued 100,000 shares of ordinary shares in exchange for a building valued at P900,000 and merchandise inventory valued at P380,000, the values provided are the fair market values. Feb 1 Sold subscriptions for 25,000 ordinary shares of stock. The shares have a subscription price of P10 per share. One-half of the subscription price was received as a down payment. March 2 Sold P10,000 ordinary shares and received a Building, this building has a book amount of P300,000. April 1 Full settlement of the subscription occurred from the Feb 1 subscription. June 1 Issued 12,000 shares of preference shares for P110 cash per share. July 1 Issued 100,000 shares of ordinary shares for P15 cash per share. August 1 Received subscriptions to 2,000 ordinary shares at P30 per share, collected 90% of the subscription price. Activate V Go to Setting HOT TEA Corporation began operations on January 1, 2021. You were hired as the HOT TEA's Accountant and was tasked to prepare the share capital section of the shareholder's equity as at December 31, 2021. The following transactions relating to shareholder's equity occurred in the first year of the corporation's operations: 2021 Jan 1 Authorized the issuance of 2 million shares of P5 par value ordinary shares and 100,000 shares of P100 par value, 10% cumulative preference shares. Jan 2 Issued 200,000 shares of ordinary shares for P12 cash per share, this P12 per share is known as the fair market value of HOT TEA's share and its quoted price. Jan 3 Issued 100,000 shares of ordinary shares in exchange for a building valued at P900,000 and merchandise inventory valued at P380,000, the values provided are the fair market values. Feb 1 Sold subscriptions for 25,000 ordinary shares of stock. The shares have a subscription price of P10 per share. One-half of the subscription price was received as a down payment. March 2 Sold P10,000 ordinary shares and received a Building, this building has a book amount of P300,000. April 1 Full settlement of the subscription occurred from the Feb 1 subscription. June 1 Issued 12,000 shares of preference shares for P110 cash per share. July 1 Issued 100,000 shares of ordinary shares for P15 cash per share. August 1 Received subscriptions to 2,000 ordinary shares at P30 per share, collected 90% of the subscription price. Activate V Go to Setting

Answer rating: 100% (QA)

Sure Ill number the questions and provide the answers with details Here are the balances of the different components of shareholders equity on the given dates 1 What is the balance of the Ordinary Sha... View the full answer