The Company bought 100,000 DBS shares on 18t May 2010 at $20.00 per share. On 18t June 2010, it sold 20,000 DBS share at $23.00 per share. The last transacted price of DBS share on 31.12.10 was $19.00. Please journalise the transaction (including Provision for Diminution Account on 31.12.2010)
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- Kindly answer with solutions, round off the answer to two decimal places. 1. On July 1, 2010, Bettina Company’s board of directors declared a 10% share dividend. The market price of Bettina’s 400,000 outstanding ordinary shares, P50 par value, was P80 per share on the date of declaration. The share dividend was distributed on September 1, 2010 when the market price of the shares was P100 per share. What amount should be charged to the Accumulated Profits and Losses account as a result of the share dividend?The shareholders’ equity section of JAO Co. revealed the ff. on Dec. 31, 2015: Preference share (P100 par) P2,300,000; Share Premium – Preference: P805,000; Ordinary share (P15 par) P5,250,000; Share Premium – Ordinary: P2,750,000; Subscribed ordinary shares: P50,000; Accumulated Profits and losses: P1,900,000. How much is the legal capital? a. P13,055,000 b. P7,600,000 c. P7,550,000 d. P11,150,000BFAR Company has the following transactions: Acquired 8,000 shares of its own outstanding shares at P20 per share on February 5, 2022. Sold 4,000 of these shares at P27 per share on August 9, 2022. . On November 1, 2022, sold 2,000 shares from its treasury for P18. ● The cost method is used to record treasury shares transactions. The par value of the shares is P15. Compute the cost of remaining treasury shares.
- If Frank Corporation sells 100,000 shares of its new $1 par value common stock to investors for $1 per share on June 1, 2011, the required journal entry would require: A debit to? A credit to?98. Long Company had 10,000 shares issued and outstanding on January 1,2013. On March 15, the entity declared a 2 for 1 share split when the fair value of share was P80. On December 15, the entity declared a P5 per share cash dividend. What amount should be reported as dividends? * O A. 50,000 O B. 100,000 C. 850,000 O D. 950,000On July 1, 2010, Bettina Company's board of directors declared a 10% share dividend. The market price of Bettina's 400.000 outstanding ordinary shares, P50 par value, was P80 per share on the date of declaration. The share dividend was distributed on September 1, 2010 when the market price of the shares was P100 per share. What amount should be charged to the Accumulated Profits and Losses account as a result of the share dividend?
- 31. During 2013, G Company purchased 80,000 shares for P60 per share. The investment was classified as trading investment. During the year, the entity sold 20,000 shares for P70 per share. On December 31, 2013, the market price per share is P56. What net amount of gain or loss should be for 2013? a. 320,000 loss b. 200,000 gain c. 240,000 loss d. 40,000 loss1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…5. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2010. The following are data available at Dec 31, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition) P1 Most recent transaction price per share P2 Transaction cost per share (current) P.50 How much is the value of the investment at Dec 31, 2020? 2,000 2,500 3,000 4,000
- Brash Co had 100,000 shares in issue, but then makes a 1 for 5 rights issue on October 1, 2002 at a price of $1. The market value on the last day of quotation with rights was $1.60. Calculate the EPS for 2002 and the corresponding figure for 2001 given total earnings of $50,000 in 2002 and $40,000 in (b) 200126. In 2014, Rona Company issued 5,000 shares of P10 par value for P100 per share. In 2015, the entity acquired 2,000 of the shares at P150 per share and immediately cancelled these 2,000 of the shares at P150 per share and immediately cancelled these 2,000 shares. In connection with the retirement of the shares, what amount is debited respectively to share premium and retained earnings?The shareholders' equity of McCoy Corp. revealed the following on June 30, 2017: · Preference share, P100 par value: P230,000 · Preference share premium: 80,500 · Ordinary share, P15 par value: 525,000 · Ordinary share premium: 275,000 · Ordinary share subscribed: 5,000 · Retained earnings: 190,000 · Notes payable: 400,000 · Subscription receivable -ordinary: 40,000 How much is the legal capital of the corporation? how much is the total shareholders’ equity? How much is the additional paid-in capital?