On June 30, 2019, Haiti Company has 200,000 shares of P10 par ordinary share outstanding and the market price of the share is P12 per share. On the same date, the company declared a 1 for 2 share split. Immediately before the split, the total share premium was P900,000. What should be the balance in Haiti’s Share Premium account after the share split is effected
Q: On June 30, Year 3, Campbell Company's total current assets were $503,000 and its total current…
A: Working capital is calculated as difference between current assets and current liabilities. The…
Q: Steele's Enterprises has purchased a new machine tool which will allow the company to improve the…
A: Annual cash flow of a project to the amount that would be generated by the project on an annual…
Q: Rich & Sweet Candy Company budgeted to produce and sell 5,000 units with its budgeted revenues and…
A: Flexible Budget A flexible budget is one based on different volumes of sales. A flexible budget…
Q: Financial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a…
A: A lease is a contract in which a landlord (the lessor) offers the tenant (the lessee) the right to…
Q: Direct Materials and Direct Labor Variances At the beginning of June, Bezco Toy Company budgeted…
A: Direct material variance :— It is the difference between standard direct material cost for actual…
Q: Problem 2-11 (AICPA Adapted) AN 01-& residos Pearl Company maintains a checking accounts at the City…
A: Bank reconciliation is prepared so that, the correct balance of cash in the bank can be known.
Q: 1. Calculate the cash operating cycle of Stone Limited for the year ended 30 April, 2018 and 2019.…
A: Inventory turnover ratio is a financial metric that measures how many times companies sell and…
Q: Required information [The following information applies to the questions displayed below.] Javier…
A: Answer:- Tax benefit meaning:- Any tax law that lowers the tax liability of the tax payer is…
Q: The principle of exceptions allows managers to focus on correcting variances between O a.…
A: Principles of Exception is described as a supervision style in which a manager takes a corrective…
Q: QUESTION 24 QA company purchases a patent for $90,000 on July 1, 2021. The patent's useful life at…
A: Amortization expense :— It is the depreciation expense of intangible assets. It is calculated by…
Q: Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc.…
A: The question is based on the concept of Cash flow Statement. Cash flow statement is a that shows…
Q: A company purchased computers for $200,000. The installation charge of the computer was $10,000.…
A: Depreciation is the decrease in the value of the asset. The depreciation is a noncash expense for…
Q: On December 31, 2021 Dean Company changed its method of accounting for inventory from weighted…
A: There are several methods to account for the inventory present in the balance sheet of a company.…
Q: D4. As of december 31, 2019, Sandy Beach had $9,500,000 in 4.5 percent serial bonds outstanding.…
A: A serial bond debt service fund is a type of fund that is established to manage the repayment of a…
Q: enosha Winter Services is a small, family-owned snow-removal business. For its services, the company…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Financial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a…
A: Introduction:- This question relates to the financial statement reporting for an operating lease.…
Q: Applesoft produces tablets, laptops and televisions. Applesoft typically sells 1,000 tablets a year.…
A: Operating income is the total amount of profit generated by a company after considering the value of…
Q: Q2 Joint cost allocation: sell immediately or process further. Iowa Soy Products (ISP) buys soy…
A: The joint cost is the common cost incurred for producing more than one product. The processing of…
Q: The following information is provided about a company for the year 2017: Sales $250,000 Variable…
A: Return on investment : Return on investment is calculated by dividing the Operating Income by the…
Q: The following information was obtained from Knox Company's income statement for 20-2, balance sheets…
A: Cash flow statements are the statements that determine the inflow and outflow of cash from three…
Q: A disadvantage of absorption costing is A.) None of the answers are correct. B.) Both answers are…
A: Absorption costing is a method of accounting for the cost of producing a product that includes both…
Q: Current Attempt in Progress The basic difference between a direct-financing lease and a sales-type…
A: Gross profit is the difference between sales price of asset (fair value) and cost of asset (carrying…
Q: The selling price of a television is $2,000 and the cost to the retailer is $725. . What is the…
A: Lets understand the basics. Gross profit is a profit derived by selling of goods. It is derived by…
Q: mal places, e.g. 125 and round profitability index to 2 decimal places, e.g. 12.50. For calculation…
A: NPV shows the net present value of cash flows , which many be either positive or negative. We will…
Q: The shareholders' equity of a company includes the items shown below. The board of directors of the…
A: Cumulative Preferred Stock :— It is one of the type of preference shares in which it is mandatory…
Q: Lean Accounting Com-Tel Inc. manufactures and assembles two models of smartphones—the Tiger Model…
A: Disclaimer: "Since you have asked multiple questions, we will solve the first three questions for…
Q: The following information relates to the pension plan for the employees of RR Co.: 1/1/19…
A: The gain or loss on plan assets is the difference between the actual return on plan assets and…
Q: River Company reported the following information in relation to cash on December 31, 2021: Checkbook…
A: Adjusted cash in the bank on December 31, 2021 Particular Amount Remarks Opening Checkbook…
Q: Kohler Corporation reports the following components of stockholders' equity at December 31 of the…
A: Stockholder's Equity - Stockholder's Equity is the section in the balance sheet. It includes…
Q: “The N” Corporation is authorized to issue 100,000 ordinary shares, P17 par value. At the beginning…
A: The total paid-in capital refers to the total amount of capital invested in the enterprise by the…
Q: Problem 2-12 (AICPA Adapted)014) In preparing the bank reconciliation for the month of August, Apex…
A: Lets understand the basics. Bank reconciliation is a statement prepared in order to reconcile the…
Q: Operating income can be calculated by: dividing fixed costs by the contribution margin ratio.…
A: Operating income is the total amount of profit generated by a company after considering the value of…
Q: Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the…
A: Conversion cost is the cost incurred for converting raw materials into finished products. Therefore…
Q: Department W had 2,880 units, one-third completed at the beginning of the period; 13,800 units were…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: Non-current liabilities: 10% loan notes Current liabilities: Bank overdraft Trade payables Taxation…
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…
Q: The Gourmand Cooking School runs short cooking courses at its small campus. Management has…
A: The flexible budget can be changed on the basis of changes in the number of units or other…
Q: At the end of the current accounting period, account balances were as follows: Cash, $27,000;…
A: ACCOUNTING EQUATION Accounting Equation is a Financial Accounting Technique which represents the…
Q: When purchases returns are used in the calculation of cost of sales, it has the effect of reducing…
A: Purchases returns are products that are returned by a company to its suppliers due to various…
Q: Jamaica Co’s sales forecast for the first five months of 2018 are as follows: January…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: Your company is planning to purchase a new log splitter for its lawn and garden business. The new…
A: PAYBACK PERIOD Payback Period is one the Important Traditional Capital Budgeting Technique. Payback…
Q: Iron King Corporation had the following transactions during 2019: Jan. 1. Issued 6,000 ordinary…
A: The treasury stock includes the own shares of the company purchased from the shareholders. The…
Q: Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct…
A: The cost of units completed and transferred includes the cost of beginning WIP completed and cost of…
Q: A. What effect does the rental activity have on her AGI for the year?
A: Alexa's AGI from other sources = $90,000 As her AGI is less than $ 100,000 so…
Q: Revenues METAGROBOLIZE INDUSTRIES Incone Statenent Expenses For the Year Ended December 31, 2824 (s…
A: Cashflow statement is part of financial statement prepared by the organizations. There are 2 methods…
Q: Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains…
A: Standard labor-hours allowed (SH) to ship actual units=Actual units×Standard labor-hours per unit…
Q: In the current year, Dove Corporation (E & P of $1,000,000) distributes all of its property in a…
A: When a corporation distributes its assets in a complete liquidation, the fair market value of the…
Q: Explain the role of the accountant in the international environment.
A: Accountants are people who are accounting professional with a professional degree in accounting.…
Q: year-end review of Accounts Receivable and estimated uncollectible percentages revealed the…
A: Bad debts are those kinds of customers that become uncollectible. These are charged in the income…
Q: The Sky Blue Corporation has the following adjusted trial balance at December 31. Cash Accounts…
A: Balance sheet is the financial statement which is prepared by the entity for the purpose of…
Q: are inappropriate in the context of a charitable entity of its type. The excess benefits are…
A:
On June 30, 2019, Haiti Company has 200,000 shares of P10 par ordinary share outstanding and the market price of the share is P12 per share. On the same date, the company declared a 1 for 2 share split. Immediately before the split, the total share premium was P900,000. What should be the balance in Haiti’s Share Premium account after the share split is effected?
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stack. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical's equity on July 31, 2021, comprised of the following Ordinary Shares, P10 par- P4,000,000 Subscribed ordinary shares-1,000,000 Share premium-600,000 Retained earnings-200,000 Treasury shares, 80,000 shares -1,750,000 What is the effect on the stockholders' equity as a result of the issuance of stock rights? A. 500,000 increase B. 2,500,000 increase C.no change D.200,000 increaseOn August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical's equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the stockholders' equity if all but 60,000 share rights were exercised? 1,300,000 increase 1,800,000 increase 2,100,000 increase no change What is the effect on the stockholders' equity as a results of the issuance of stock rights? 200,000 increase no change…On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…
- On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the stockholders’ equity as a result of the issuance of stock rights? no change 2,500,000 increase 500,000 increase 200,000 increase What is the…On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…
- On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…Pupil, Inc. prepares this journal entry on June 30, 2019. Issued ordinary share capital for P140/share. DR Cash P70,000 CR Ordinary share capital P65,000 CR Ordinary share premium P5,000. How many shares were issued? Using data above, what is the par value per share for this share capital?Delta NV has share capital of $l m in shares of $0.25 each. At 31 May 2019 shares had a market value of $1.1 each. On 1 June 2009 the company makes a rights issue of 1 share for every 4 held at $0.6 per share. Its profits were $500,000 in 2019 and $440,000 in 2018. The year-end is 30 November. Required: Calculate (a) the theoretical ex-rights price; (b) the bonus issue factor; (c) the basic earnings per share for 2018; (d) the basic earnings per share for 2019.
- On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…The share price for A LTD at 1st July 2019 was $4.40 and at the 31st June 2020 was $5.17. you have collected the following per share dividend data for 2019 and 2020 $0.03, paid 31st March 2019 $0.04, paid 31st September 2019 $0.05, paid 31st March 2020 $0.06 to be paid 31st September 2020 determine the return on A LTD share for the year ending 30 December 202010. On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…
