2 4. The Zerro Company has issued $100,000 of Redeemable Preferred Stock. The Preferred Stock would be redeemable at the option of the shareholder at any point for the value the stock was originally sold at. The holder of the stock would be under no obligation to redeem any of the stock. How would GAAP and IFRS classify this stock on the Balance Sheet. a. GAAP Equity IFRS Equity b. Liability Liability d. PP C. Equity Liability Liability Equity and on its 31, 2025. R
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- Based on the presumption in IAS 27, the cost method is applied for equity securities when the percentage of ownership of another company is: Select one: A. 20% to 50%. B. Exactly 100%. C. Less than 20%. D. Over 50%.a. Issued ________shares of common stock. Stock has par value of ___ per share and was issued at $____per share. (please refer to table below and use only the info in line with the initial "E" in theblank/underlined space) b. Issued _______ shares of preferred stock at par value as payment in exchange for legal services. (pleaserefer to table below and use only the info in line with the initial "E" in the blank/underlinedspace)If the owner of 200 shares sells his or her stock, the trade is said to have occcured in the _market. Select one: O a. Secondary O b. IPO O . Equity O d. Primary
- 1. Using the information provided below, what is the share premium balance on December 31, 2021? The following are Lyca Company's equity accounts at December 31, 2020: • Ordinary share capital, par value P10; authorized 200,000 shares; issued and outstanding 120,000 shares. ............... P1,200,000 • Share premium........ ............... 180,000 • Retained earnings................ .............................. 720,000 . Lyca Company uses the cost method of accounting for treasury shares. The following transactions occurred in 2021: - Acquired 8,000 ordinary shares for P144,000. - Sold 6,500 treasury shares at P20 per share - Retired the remaining treasury shares a. P117,000 b. P168,000 c. P181,000 d. P193,000Use the same facts as in RE 16-3, but instead assume that Pickens declares and issues a 50% stock dividend when the stock is selling for 30 per share. Prepare the journal entry on the date of declaration to record Pickenss stock dividend.Which of the following is False in regards to Share premium account? a. It will be collected when the issue price is more than the par value of shares b. It will not be shown under current assets in the balance sheet c. It will be shown under the shareholders funds d. It will be collected when the par value of share is more than the issue price Trade receivables of XYZ SAOG company was OMR 16000 on 1st January 2019. A customer has gone bankrupt owing RO 1400, The debt is not expected to be recovered and an adjustment should be made at the end of the year 2019. An allowance for receivables of 5% is to be set up. What will be the Good Trade receivables to be shown under Current Assets on the balance sheet? a. OMR 13870 b. OMR 14600 c. OMR 15270 d. OMR 730
- Paul Company presented the following information pertaining to its investments in equity securities. FVPL FVOCICost P1,000,000 P1,000,000Market value December 31, 2020 1,050,000 980,000 December 31, 2019 950,000 920,000 2.What amount should Paul report as unrealized gains/losses in the shareholders' equity of its December 31, 2020 statement of financial position?You have been provided with the following information for the year ended 30 June 2022 for ABCLtd:RNet profit for the year -R1 800 000Weighted average number of shares (WANOS) outstanding during the year-R 120 000Average fair value per share -R30.00Weighted average number of shares (WANOS) under option during the year -R25 000Exercise price for shares under option during the year -R28.00REQUIRED:Q.2.1 Explain the purpose and objective of disclosing diluted earnings per share.Please answer with simple explanation only please. Thank you! 11.) How should the excess of the subscription price over the par value of common stock subscribed be recorded? as APIC when the subscription is received as APIC when the subscription is collected as retained earnings when the subscription is received as APIC when the capital stock is issued 12.) A Corporation obtains from Prime Products a subscription to 2,000 shares of P10 par common capital stock at a price of P15 a share. The entry to record the event is: A B C D 13.) How should a corporation reflect treasury stock on its balance sheet? as part of its assets as a deduction in the stockholders’ equity section as additional paid in capital as additional shares of capital stock 14.) How is an increase in the number of shares as a result of a stock split recorded? The transaction may be…
- Alpha company reported the following equity accounts on January 1, 2020. Tpoint hare capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings. P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31. the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?A company declares and distributes a 30% common stock dividend to common stockholders. By how much will the retained earnings balance be affected as a result of this transaction (note: consider any effects associated with closing entries)? Select one: O a. Retained earnings would not be reduced as a result of this transaction O b. Market value of the shares issued Book value of the shares issued Od. Minimum legal requirement O e. Par value of the shares issued Clear my choiceWhich of the following describes preferred stock? a. Stock that sells for a very high price b. Stock that is purchased by the corporation for investment purposes c. Stock that is sold to employees of the company as a performance incentive d. Stock which gives shareholders certain preferences and advantages over common stock Clear my choice Question 10 Not yet answered Marked out of 1.00 Flag question Question text Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30, 2021: Supper Company Ltd. Stockholders’ Equity June 30,2021 Paid-in Capital Preferred stock, 10%,? par, 650,000 shares authorized, 280,000 shares issued $ 1,400,000 Common stock, par value $? per share, 5,000,000 shares authorized, 1,000,000 shares issued and outstanding 2,000,000 Paid-in capital in excess of par—common 6,000,000 Retained Earnings 12,300,000 Which of the following is the correct total…