Activity 1 Prepare journal entries to record the issue of shares: Application to issue 1,000 ordinary share = Issue price $1.4 $0.8 payable on application ► $0.4 payable on allotment ► $0.2 payable when called ► Application were received for 1,200 shares
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What is payable on allotment and payable when called? What is the differences?
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- 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 P30,000MC 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.Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.
- A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stockX collected in full the balance of subscription receivable of P187.500 for the total subscription of 10,000 P25 par common stocks. The journal entry to record the issuance of certificates under journal entry method will require a a. debit to subscribed capital of P187,500. b. debit to subscribed capital of P 200,000, C. credit to unissued stock of P 250,000. d. credit to capital stock of P187.500.Prepare entries to record the following: a. Issued 1,000 shares of $10 par common stock at $56. If an amount box does not require an entry, leave it blank. fill in the blank 521a3d0cc058fad_2 fill in the blank 521a3d0cc058fad_3 fill in the blank 521a3d0cc058fad_5 fill in the blank 521a3d0cc058fad_6 fill in the blank 521a3d0cc058fad_8 fill in the blank 521a3d0cc058fad_9 b. Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. If an amount box does not require an entry, leave it blank. fill in the blank 3d721bfa9030007_2 fill in the blank 3d721bfa9030007_3 fill in the blank 3d721bfa9030007_5 fill in the blank 3d721bfa9030007_6 fill in the blank 3d721bfa9030007_8 fill in the blank 3d721bfa9030007_9 c. Purchased 100 shares of treasury stock at $25. If an amount box does not require an entry, leave it blank. fill in the blank b4d176082050040_2 fill in the…
- X 回 Prepare journal entries to record the following transactions. Descriptions are not required but please label the date for each one. January 10 - Issued 1,000 shares of $10 par common stock at $56 for cash. DR CR Date Account January 22 - Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. Date Account DR CR April 1- Purchased 100 shares of treasury stock at $25. Date Account DR CR June 8 - Sold the 100 shares of treasury stock (purchased April 1) at $30. Date Account DR AMDO PRIESVING 1080p CR hpAt the beginning of 20X1, the accounting records of Friends Corp. reported the following: $ 217,600 Preferred shares, 8,000 shares outstanding, no-par Common shares, 181,900 shares outstanding, no-par Contributed capital on common share retirement Retained earnings 472,940 111,500 557,500 During the year, the company acquired and retired shares, while other shares were issued: 15 March 25,700 common shares bought and retired at $4 per share 16 March 4,700 preferred shares bought and retired at $30.50 per share 20 May 10,000 common shares bought and retired at $1 per share 25 May 2,400 preferred shares bought and retired at $16.70 per share 30 May 11,500 common shares issued at $8.70 per share 15 Nov. 5,500 common shares bought and retired at $22 per share Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a…Given Date 1/1 3/1 8/1 9/1 11/1 Od 348 Oe. 383 For EPS, the weighted average number of shares is Select one: O a. 387 O b. 273 C 398 Share Change Beginning balance of 200 shares Purchased 60 shares A2-for-1 stock spilt is announced, resulting in the issuance of 140 shares Issued 150 additional shares for cash Purchased 12 shares Clear my choice
- Prepare the journal entry to record Rony Company's issuance of 35,000 shares of its common stock assuming the share have a : a. $4par value and sell for $16 cash per share b. S4 stated value and sell for $16 per share.Q.8 Company offered 10,000 ordinary shares of Rs. 10 at Rs. 9. Company received 15,000 shares application. They allotted Shares against application receipt and refund excess money. Requirement: Pass the necessary journal entries.SEE MORE QUESTIONS
