Issued _______ shares of preferred stock at par value as payment in exchange for legal services.
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Issued _______ shares of
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- From page 10-1 of the VLN, when a company sells shares of stock, those shares of stock are said to be: Group of answer choices A. Authorized shares B. Issued shares C. Outstanding shares D. Treasury sharesFrom page 10-2 of the VLN, the common stock account amount is determined Group of answer choices A. Par value x issued shares B. Par value x outstanding shares C. Par value x authorized shares D. Par value x unissued sharesThe correct order from the smallest number of shares to the largest number of shares is: a. Authorized, issued, and outstanding.b. Outstanding, issued, and authorized.c. Issued, outstanding, and authorized.d. Issued, authorized, and outstanding.
- When shares are issued fully payable on application, the journal entries to record the issue and allotment (assuming the minimum subscription is reached) are: Select one: a. Dr Cash Trust Cr Application Dr Cash Cr Cash trust b. Dr Cash Cr Application Dr Application Cr Share Capital c. Dr Cash Trust Cr Application Dr Application Cr Share capital Dr Cash Cr Cash Trust d. Dr Cash Cr Allotment Dr Allotment Cr Share capitalAB 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?Use attachment to answer the following The book value per share of common stock is: a) $12.20. b) $15.25. c) $12.40. d) $15.50.
- What is the 1.2 in the second journal entries. "Dr. Application and Allotment – Ordinary Shares (1,000 x 1.2)" What is the 1.2 comes from?What is the consolidated stockholders’ equity on December 31, 20x1:A. 2,040,000 C. 2,399,375B. 2,349,375 D. 2,375,975A. Preferred shares: P11,520 Goodwill: P576,000B. Preferred shares: P14,560 Goodwill: P1,728,000C. Preferred shares: P5,760 Goodwill: P1,728,000D. Preferred shares: P17,280 Goodwill: P576,000
- You are given the following information: ordinary shares, P80,000 (P80par); Share Premium-Ordinary, 200,000; and Retained Earnings, P400,000.Assuming only one class of share, the book value per share is? a.P280 b. P680 c. P80 d. P400Transaction Analysis Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common stock for $100,000 cash. b. Borrowed $60,000 from a bank. c. Purchased equipment for $42,000 cash. d. Prepaid rent on office space for 6 months in the amount of $9,000. e. Performed consulting services in exchange for $7,100 cash, f. Performed consulting services on credit in the amount of $19,250. 9. Incurred and paid wage expense of $10,200. h. Collected $13,500 of the receivable arising from Transaction f 1. Purchased supplies for $1,680 on credit. 3. Used $1,100 of the supplies purchased in Transaction i k. Paid for all of the supplies purchased in Transaction 1. Required: For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below. If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND…Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
