User Account

All Pages

Create journal entries to record the foregoing transactions

Assignment Help Accounting Basics
Reference no: EM132818193

On January 1, 2019, Thallium Company reported the following issues of share capital:

  • 200,000 shares at P20, P4,000,000
  • 250,000 shares at P25, P6,250,000

During 2020, the entity reacquired 50,000 shares at P20, and these were reissued at the beginning of 2021 at P25 per share.

Required:

Problem 1: Prepare journal entries to record the foregoing transactions assuming:

a. The share has a P15 par value.

b. The share is no par with stated value of P20.

Reference no: EM132818193

Questions Cloud

What amount of income or loss that is attributable to stock : What amount of income or loss that is attributable to the Cherry stock investment should be reflected in Wistrand's earnings for Year 1
Present the shareholders equity : Present the shareholders' equity. Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of P60. One half of these shares
Recognize the importance of ells home languages : In the final report, the candidates should analyze the video and recognize the importance of ELLs' home languages and language varieties, and build on these.
What is the amount and character of Butte gain or loss : Question - Butte sold a machine to a machine dealer for $50,600. What is the amount and character of Butte gain or loss
Create journal entries to record the foregoing transactions : Prepare journal entries to record the foregoing transactions assuming share is no par with stated value of P20. 200,000 shares at P20, P4,000,000
Discuss principles to follow when preventing misbehavior : Identify and discuss three principles to follow when preventing misbehavior. Describe the steps of a plan for a teacher to deal with misbehavior.
What are the monthly payments for a thirty-year mortgage : The loan would be repaid in equal monthly instalments. What are the monthly payments for a thirty-year mortgage
Describe how you could use nonlinguistic representations : Select a unit you might teach and describe how you could use nonlinguistic representations in your instruction of that particular unit.
What are the key features of direct and explicit instruction : What are the key features of direct and explicit instruction? Why are these features so vital for the instruction of students with learning or reading.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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