Reference no: EM133074421
Questions -
Q1. The shareholders' equity section of THANOS Company revealed the following information on December 31, 2021: Preference share, 100 par,2,300,000; share premium-preference, 805,000; ordinary share,15 par, 5,250,000; share premium-ordinary, 2,750,000; subscribed ordinary share,50,000; Accumulated profits and losses,1,900,000; and stock dividends payable-ordinary, 450,000. How much is legal capital?
a. 5,750,000
b. 7,600,000
c. 8,000,000
d. 8,050,000
Q2. On January 2, 2019, ANTMAN Company grants 50 shares each to 400 employees, conditional upon the employees' remaining in the company's employ during the vesting period. The shares will vest at the end of 2019 if the company's earnings increased by more than 15%; or at the end of 2020, if the earnings increased by an average of 12% over the two-year period; or at the end of 2021 if the earnings increased by an average of 10% over the three-year period. The shares have a fair value of 25 on January 2, 2019, which is equal to the share price on the grant date. At the end of 2019, earnings had increased by 13% and 20 employees have left and the company expects that earnings will continue to increase at a similar rate in 2020 and expects to vest in 2020. The company also expects that a further 20 employees will leave during 2020. At the end of 2020, earnings increased by only 9% and therefore, shares do not vest at the end of 2020. Also, 15 employees have left the company in 2020 but expects that 10 employees will leave the company in 2021. The company expects that earnings will continue to increase at a similar rate. At the end of 2021, earnings increased by 9% and 5 employees have left the company in 2021. What amount of remuneration expense should the company recognize in its December 31, 2021 income statement?
a. 450,000
b. 225,000
c. 154,167
d. 70,833
Q3. At the beginning of 2021, GROOT Corporation issued 10% bonds with a face value of 1,800,000. These bonds mature in five years, and interest is paid semi-annually on June 30 and December 31. The bonds were sold for 1,667,518 to yield 12%. GROOT uses a calendar year reporting period. Using the effective interest method of amortization, what amount of interest expense should be reported for 2021?
a. 100,654
b. 180,000
c. 100,051
d. 200,705
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