ko Babagsak Company has 10,000 P50-par convertible preference shares which were originally issued at P60. Each share is convertible into 5 P7-par ordinary shares. On August 1, 3,000 of these were converted. How much is the resulting Share Premium-Ordinary Share from the conversion?
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Di Ako Babagsak Company has 10,000 P50-par convertible
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- On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000 shares of its P40 par value convertible preference share for a total consideration of P160,000. At this date, the company’s ordinary shares were selling at P36 per share, and the convertible preference shares were selling at P54 per share. Determine the amount to be credited to share premium for the convertible preference share.During 2012, Abysmal Company issued 50,000 convertible preference shares with P100 par value for P110per share. One preference share can be converted into three ordinary shares with P25 par value at the option of the preference shareholder. On December 31, 2012, when the market value of the ordinary share was P40 per share, all of the preference shares were converted. What amount should be credited respectively to ordinary share capital and share premium as a result of the conversion? a. 3,750,000 and 1,750,000 b. 3,750,000 and 2,250,000 c. 5,000,000 and 500,000 d. 6,000,000 and 0Fraudi Company issued 50,000 shares of its P100 par ordinary and 80,000 shares of its P50 convertible preference for a total amount of P12,500,000. At the date of issue, the ordinary shares had a market value of P120 per share and the preference shares are selling at P75 per share. What is the amount credited to share premium from preference shares?
- VIOLET Company issued 7,000 convertible preference shares with ₱100 par value at ₱105 per share. One preference share can be converted into four ordinary shares with ₱20 par value at the option of the shareholder. Subsequently, all of the preference shares were converted into ordinary shares. The market value of the ordinary share on the date of conversion was ₱25. What amount should be credited to share premium - ordinary shares as a result of the subsequent conversion into ordinary shares of the issued preference shares? *₱ 595,000₱ 35,000₱ 140,000₱ 175,000 THE ANSWER IS 175,000 PLEASE SHOW ME HOW.A company has in issue 1,000,000 preference shares of P10 each which are redeemable at par value. They are also convertible into 100,000 ordinary shares of P10 each. The company’s Articles provide that the preference shares are to be redeemed at par value and the proceeds of redemption are to be applied to subscribing for new ordinary shares. Prepare the journal entry to record the conversion.Integrity Company, a newly formed company, had the following shares issued and outstanding as of April 1, 2022: Ordinary share, P20 par (20,000 shares originally issued for P60 per share) Preference share, P50 par (6,000 shares originally issued for P100 per share) How much is the Ordinary Share Capital, Preference Share Capital, and Share Premium, respectively? a. P400,000; P300,000; and P1,100,000 b. P1,200,000; P300,000; and P300,000 c. P400,000; P600,000; and P800,000 d. P1,200,000; P600,000; and P0
- 12. During the current year, Hyatt Company issued for P110 per share, 15,000 convertible preference shares of P100 par value. One preference share may be converted into three ordinary shares of P25 par value at the option of the preference shareholder. At year-end, all of the preference share were converted into ordinary shares. The market value of the ordinary share at the conversion date was P40. a. What amount should be credited to ordinary share capital as a result of conversion? b. What amount should be credited to share premium as a result of the conversion?On June 30, 2021 BANANA Company issued 1,000 of P10 par ordinary shares and 2,000 of P10 par preference shares for a lump sum price of P45,000. On this date, BANANA's ordinary and preference shares were selling at P18 and P14 per share, respectively. What is the amount to be credited to Share-premium preferenceVictory Company issued 8,000 ordinary shares with P200 par value and 20,000 preference shares with P200 par value for a total consideration of P7,500,000. At the date of issue, the ordinary share was selling for P360 and the preference share was selling for P270. What is the share premium from the issuance of ordinary shares?
- Item No. 2 is based on the following information: Virma Corporation sold to a subscriber 500 shares of its P 30 par value ordinary shares at P 32 per share receiving a 30% down payment. 2. In recording this transaction: a. Ordinary Share Capital will be credited in the amount of P 15,000. Ordinary Share Capital will be credited in the amount of P 16,000. b. c. Ordinary Share Premium will be credited in the amount of P 4,500. d. Subscribed Ordinary Share Capital will be credited in the amount of P 15,000.Point Company issued 25,000 shares of its P50 par ordinary and 40 shares of its P25 redeemable preference for a total amount of P3,000,000. The redeemable preference shares had a mandatory redemption date 2 years after their issuance. At the date of issue, the ordinary shares had a market value of P65 per share and the preference shares are selling at P30 per share. What is the amount credited to share premium from ordinary shares?b) East Company issued 1,000 shares with P5 par to Howe as compensation for services. By what amount should the share premium accoùnt increase as a result 1. Answer the following questions: a) Ivy Company provided the following accounts at year-end: Preference Share Capital, P100 par P5,000,000 Ordinary Share Capital, P10 par Subscribed Preference Share Capital Subscribed Ordinary Share Capital Subscriptions Receivable - Ordinary Subscriptions Receivable -Preference Share Premium – Preference Share Share Premium – Ordinary Share 2,000,000 1,800,000 1,000,000 180,000 190,000 300,000 220.000 680,000 Treasury Share - Preference (700 shares at cost) Share Premium - Preference Treasury Share 850,000 Retained Earnings 2,000,000 How much is total shareholders' equity at yearend? b) East Company issued 1,000 shares with P5 par to Howe as compensation fo. 1.000 hours of legal services performed. Howe bills P160 per hour for his loet services. By what amount should the share premium accoùnt…