User Account

All Pages

How many shares are still unissued

Assignment Help Accounting Basics
Reference no: EM132815823

Question - The financial position of Blue Corporation showed the following information as at March 31, 2019, the year that the corporation was authorized to issued 500,000 shares.

ASSETS:

Cash 500,000

Properties 1,560,000

Subscription Receivable 500,000

TOTAL: 2,560,000

STOCKHOLDER'S EQUITY:

Paid In Capital:

Share Capital, Par 10 1,200,000

Subscribed 1,000,000

Paid in Excess of Par 360,000

TOTAL: 2,560,000

Direction:

a. How many shares are still unissued?

b. How many shares are still available for sale or for subscription?

c. Record receipt of cash from four incorporators who subscribed at par with a 20% down payment.

d. Record the receipt of properties acquired for shares issued at a premium.

e. Record the additional receipt of cash from the incorporators.

Reference no: EM132815823

Questions Cloud

Describe the value proposition of your selected company : In this section you will describe the value proposition of your selected company. A company's value proposition is what distinguishes it from its competitors.
Create the franking account with explanations : During the year ended 30 June 2020, Fedlin Pty Limited (an Australian resident private company) Create the franking account with explanations
Summarize what is logistics performance priorities : Summarize what is logistics performance priorities, what Logistics and Supply Chain Management concepts/tools applied to achieve the company's objective.
Balanced scorecard and ethical leadership : Pick one of the following terms for your research: Balanced scorecard, ethical leadership, emotional intelligence, sustainability, or authentic leadership.
How many shares are still unissued : The financial position of Blue Corporation showed the following information as at March 31, 2019, How many shares are still unissued
Define how you will address jim recent performance issues : Imagine you work at a company and it is time for an employee named Jim's annual review. While he was a model employee the first nine months of the year.
About choosing between marriage and single life : When Paul advises believers about choosing between marriage and the single life, How does Paul link Jesus' resurrection to the Christian hope of an afterlife?
What will be the effect on profit of accepting the order : Accustart produces a hard disk drive that sells for $176 per unit. What will be the effect on profit of accepting the order
How you will ensure the system is properly maintained : Explain how you will ensure the system is properly maintained and evaluated for continuous improvement. Use at least four quality academic resources.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the correct final balance of inventory

Inventory items with a cost of $3,650 were included in ending inventory. Compute the correct final balance of Inventory

  Stainless refrigerator company purchases ice makers and

stainless refrigerator company purchases ice makers and installs them in its products. the ice makers cost 138 per case

  Prepare the production budget

Every unit needs 0.8 of the direct labor hours and every hour costs $30/ hour. Prepare the Production budget

  Why is the cost of equity higher when debt is used

If the company decides to use 40% debt what is the new cost of equity? Note, the company's marginal tax rate is 35%. (Hint: calculate the levered beta and then re-calculate the cost of equity with that.)

  By how much will bkfcoms monthly profits change if they

bkf.com provides banks access to sophisticated financial information and analysis via the web enabling them to

  What is the amount of gross profit

During the month, merchandise is sold for $23,500 cash and for $34,000 on account. The cost of merchandise sold is $41,500. What is the amount of gross profit?

  What amount the journal entry to record this exchange

The journal entry to record this exchange should debit the Equipment account for what amount

  Calculate the amount of cash rutherford paid to charlet

Charlet Company sells office chairs to its customers. Calculate the amount of cash Rutherford paid to Charlet on July 16. Do not use decimals in your answer

  Wells company reports the following sales forecast

wells company reports the following sales forecast september 55000 october 66000 and november 80000. all sales are on

  Compute the cash payments expected for finch company

Finch Company began its operations on March 31 of the current year. The cash payments expected for Finch Company in the month of April are

  When should sales tax revenues and property tax

When should sales tax revenues and property tax revenues be recognized for governmental activities in the government wide statement of activities?

  Which transactions will not cause partnership inside basis

Which transactions will NOT cause the partnership's inside basis in the assets to differ from the partner's outside basis in their partnership interest?

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