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Question - ABC Corporation was organized on Feb 01, 2021. The corporation was authorized to issue 40,000 shares of 8% preference shares, P130 par value, and 150,000 shares of ordinary shares, P70 par value. Transactions for the year were as follows:
Mar 31 - Sold 45,000 shares of ordinary shares at P85 for cash.
Apr 30 - Issued 5,000 shares of ordinary shares in exchange for an equipment with a fair market value of P400,000.
May 21 - 18,000 shares of ordinary shares were subscribed at P85 and a 60% payment were received.
How much is the legal capital at the end of the year 2021?
On February 1, Willmar Corporation borrowed $100,000 from its bank by signing a 12 percent, Compute the carrying value of the note on April
Computing Issue Prices of Bonds for Three Cases. All of the bonds will be sold on January 1, 2014
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method.
Green's at-risk amount is sufficient, calculate Green's taxable income for the year and Green's suspended
What amount should be shown in Valley's December 31, 2018, balance sheet as "Cash and cash equivalents"
a company uses direct labor hours to allocate variable and fixed overhead costs. under which of the following
Bobby and Sissy got married 2.5 years ago. Since that time, they have lived in Bobby's home. Sissy sold her previous home three years ago
Complete the table indicating whether each item (1) should be reported as an operating (O) activity, investing (I) activity, financing (F) activity, or as a noncash (NC) transaction reported in a separate schedule, and (2) represents a cash inflow..
journalize the following entries for oglala supplies 1-jan oglala purchases 100000 of merchandise from loopy and co.
Why, as accounting and/or business students, should we care about the SEC? What is SEC's relation with PCAOB and the Sarbanes-Oxley ACT?
bagley company has two service departments and two producing departments. square footage of space occupied by each
Calculate taxable income for AST Records. You should assume that taxable income will be the same regardless of the form of the entity
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