Solution-How much was the total paid in capital as of

How much was the total paid in capital as of December

Assignment Help Financial Accounting

Reference no: EM132872130

Question - The shareholder's equity section of the statement of financial position of Bravo Corporation showed the following balances at December 31, 2020:

Ordiary Share Capital, 10,000 shares issued 300,000

Share Premium 100,000

Retained earnings 240,000

Treasury shares, 1,000 shares 35,000

During 2021, the following transactions were completed in chronological order.

-A 50% bonus issue was declared when each share sells for 42

-All of the treasury shares were sold for 42,000

-Profit for 2021 was 280,000

Required -

1. How many shares were outstanding at December 31, 2021?

2. How much was the total paid in capital as of December 31, 2021?

3. What was the total retained earnings balance at December 31, 2021?

Reference no: EM132872130

Questions Cloud

Make journal entries that summarize june total activity : During June, direct materials requisitions for all jobs totaled $149,000; Make journal entries that summarize June's total activity

How many new consultants does BCH have to hire each year : In order to maintain the consulting staff at an average level of 200 associates, how many new consultants does BCH have to hire each year at the associate level

Prepare the journal entry to record the issuance of the note : The incremental borrowing rate of Porter is 12% and the incremental borrowing rate of Longshore is 10%. Prepare the journal entry to record the issuance

Find the current and future income tax rates : Net income before income tax for 20X1 = 300,000. Find the current and future income tax rates are the same for this year. What is this rate

How much was the total paid in capital as of December : A 50% bonus issue was declared when each share sells for 42. How much was the total paid in capital as of December 31, 2021

Compute the required exclusion in gross estate : Assuming the bank was duly notified of his death, compute the required exclusion in gross estate

How this would change the accounting for the share issue : If a company used a direct private placement for issuing shares rather than a public placement, briefly explain how this would change the accounting for share

What is the audit response for fair value measurement : The fair value measurement using comparison method draws reference to transactions of similar properties. What is the audit response for fair value measurement

Discuss how much is the income subject to tax in each year : At the time of receipt in 2018 the note may be sold to a bank at a discount of 18%. Discuss how much is the income subject to tax in each year

User Account

All Pages

How much was the total paid in capital as of December

Reference no: EM132872130

Reference no: EM132872130

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT