How much was the receivable from the highest bidder

Assignment Help Financial Accounting
Reference no: EM132865950

Question - Thelma Corporation received authorization to issue 100,000 shares of 25 par value ordinary share capital. It completed the following selected transactions during the year.

Received subscription from Sioson for 20,000 shares at 30 per share, receiving 40% of the subscription price as down payment.

On due date, Sioson failed to pay the balance of the subscription price. The shares were declared delinquent and were advertised for sale at a public auction, Thelma paying 5,000 advertising costs.

Required - How much was the receivable from the highest bidder?

Reference no: EM132865950

Questions Cloud

Performance and design processes : As the company examines various methods to assess its performance and design processes, it is looking for analysis of existing workflow production process
Identify any potential threats that exist : Identify any potential threats that exist based on the facts of the case? Explain how these threats could influence the quality and integrity of her work
Home consumer through home sales events : Winsome Manufacturing Company produces plastic storage containers and sells them to the home consumer through home sales events.
Do believe that current government reflects the intent : Do you believe that our current government reflects the intent of the Founding Fathers to have a Congress that has more power than the President?
How much was the receivable from the highest bidder : Received subscription from Sioson for 20,000 shares at 30 per share, How much was the receivable from the highest bidder
Increase your personal power : Describe ways in which you might increase your personal power.
How great britain and other democracies represents people : Examine how Great Britain and other democracies represents its people. Many of us like to complain about politics and the politicians.
Do believe allegations are worthy of impeaching : Possible wrongdoings involving the Ukraine, do you believe these allegations are worthy of impeaching and removing the president from office?
Discusses the impact of money and rewards : Discusses the impact of money and rewards. What did you learn? Do you agree or disagree with any of the concepts presented in this section?

Reviews

Write a Review

Financial Accounting Questions & Answers

  How to compute for amount of attributable of money market

How to compute for the amount of attributable of money market and capital morket with security information. Explain in detail with an example.

  The cost of ending inventory using weighted-average

Malloy Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. The cost of end..

  Compute the balance sheet value of the bond liability

Tin Corp. issued 100 five-year bonds on July 1, 2015. The interest payments are due semiannually (Jan 1 and July 1) at an annual rate of 8 percent. The effective interest rate on the bonds is 6 percent. The face value of each bond is $1,000. Compute ..

  Which product or mix of products should bulla ltd produce

For the next six months, Which product or mix of products should Bulla Ltd produce using this capacity? Show all workings and calculations.

  Developing financial plan

Your friend Sue has asked you to help her out as she is developing her financial plan. Help her come up with a plan for her finances and how she can set herself

  Prepare the paid-in capital section of stockholders

Journalize the transactions - Prepare the paid-in capital section of stockholders' equity at December 31, 2015 - Prepare a stockholders' equity section

  Make the journal entry on january to record payment

Make the journal entry on January 3 to record payment assuming the adjusting and reversing entries were made on December 31 and January 1.

  Calculate the total net cash outflow

Principal amount of bond is $24,500,000 stated interest rate (annual) is 5%; market interest rate is 6%, corporate tax rate 32%. Calculate the annuity. Calculate the total (annual) net cash outflow for the company based on the above information.

  What is the annual average compound growth rate

Suppose that's the NASDAQ composite index hit, In February of 1991 it was at a level of 4,680. What is the annual average compound growth rate over the period?

  After tax cost of debt and preferred stock1 calculate the

after tax cost of debt and preferred stock.1. calculate the after-tax cost of a 25 million debt issue that a company

  Find what is the amount of profit on the sale

Find what is the amount of profit on the sale and the interest income that Koenig would record for the year ended December 31,2021?

  Describe in detail the control procedures

Describe in detail the control procedures that you would expect to see put in place by FBLP during the physical count of inventory.

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