What is the total amount of share premium at year-end

Assignment Help Accounting Basics
Reference no: EM133189720

Questions -

Q1) At December 31, 2021, X Corporation had 20,000 shares of P1 par value treasury shares that had been acquired in 2021 at P12 per share. In May 2022, X Corporation issued 15,000 of these treasury shares at P10 per share. At December 31, 2022, what amount should X Corporation show in notes to financial statements as a restriction of retained earnings as a result of its treasury shares transactions?

Q2) ABC company reported the following shareholders' equity at the beginning of current year:

Share capital, P10 par, outstanding 225,000 shares 2,250,000

Share premium 900,000

Retained earnings 2,190,000

During the year, the entity had the following transactions: Acquired 6,000 treasury shares for P270,000. Sold 3,600 treasury shares at P50 a share. Sold the remaining treasury shares at P41 per share. What is the total amount of share premium at year-end?

Q3) Honda Company provided the following data during the first year of operations:

Sold 30,000 preference shares, 12%, P100 par, at P140.

Sold 100,000 ordinary shares of P50 par at P55.

Purchased and retired 10,000 preference shares at P120.

Purchased 15,000 ordinary shares at P52 to be held as treasury.

Sold 10,000 treasury ordinary shares at P60.

Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of P60. One half of these shares were sold for P65.

Net income for the year was P3,000,000

Appropriated retained earnings equal to the remaining cost of treasury shares.

What amount should be reported as total share premium at year-end?

What amount should be reported as unappropriated retained earnings at year-end?

What amount should be reported as shareholders' equity?

Reference no: EM133189720

Questions Cloud

What statement of financial position report share premium : Received cash for P19,500 shares issued at P38 per share. What the statement of financial position will report share premium
Prepare the operating section of the statement of cash flows : They pay dividends totaling $6,000. Prepare the operating section of the statement of cash flows for 2017 using the indirect method
Prepare the entry on pixer books to record the sale : Recognizing Accounts Receivable On June 7, Pixer Co. sells $1,500 of merchandise to Jasmine Co. on account. Prepare the entry on Pixer books to record the sale
Design a network using real world topologies : Design a network using real world topologies (AARNet topology and DFN topology). And measure the performance evaluation of the network
What is the total amount of share premium at year-end : Sold 3,600 treasury shares at P50 a share. Sold the remaining treasury shares at P41 per share. What is the total amount of share premium at year-end
Critically analyse methods available to reduce costs : Based on your calculations in task 1 you will need to critically analyse methods available to reduce costs
What was the company beginning capital balance : Question - Daniel Repair Company has a net income of $3,500 and withdrawals of $5,500. What was the company beginning capital balance
What is the gain or loss on early extinguishment : At December 31, 2025, the following balances existed for MICPA Corporation: Bonds Payable (6%) $600,000. What is the gain or loss on early extinguishment
What was the amount of cash received from customers : If sales for the current year were $655,200 and accounts receivable decreased by $47,200 during the year, what was the amount of cash received from customers

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd