Reference no: EM132841489
Question - Kappa Corporation had the following shareholders' equity on January 1, 2016:
Common shares, 300,000 shares authorized, 100,000 shares issued and outstanding, $810,000
Contributed surplus, purchase and cancellation of common shares, $290,000
Retained earnings, $700,000
The company also had 100,000 preferred shares authorized but none had been issued. Both common shares and preferred shares are without par value.
The following transactions occurred during 2016 (in the order presented):
Sold subscriptions for 24,000 common shares for $15 per share with 40% of the price paid on subscription.
Received payments for the balance of the subscriptions. All payments were received except for 4,000 shares. When shares were not paid for, the amounts paid to date were forfeited (i.e., no refund was issued). The subscribed shares were issued.
Repurchased and retired 50,000 common shares at a cost of $16 per share.
Required - Make journal entries to record the transactions set out above.
|
Describe the structure and function of the electoral college
: Describe the structure and function of the Electoral College. How and when was it created in the United States? Why was it created, and by whom?
|
|
What is the expected present value of cynthia bennett cash
: A cash flow of $500,000 may be received by Cynthia Bennett Company in one year, What is the expected present value of Cynthia Bennett' cash flow?
|
|
What resources are you going to need to complete project
: What resources are you going to need to complete your project? (Consider, in particular, the time taken to perform background research and to obtain.
|
|
What is the firm market value capital structure
: What is the firm's market value capital structure? Raymond Mining Corporation has 10.0 million shares of common stock outstanding, 440,000 shares.
|
|
Make journal entries to record the transactions
: Repurchased and retired 50,000 common shares at a cost of $16 per share. Make journal entries to record the transactions set out above
|
|
What challenges does modernity post to the correlation
: Identify a war of your choice and discuss the cultural and structural (organization) elements that are important to the war you chose.
|
|
Provide the journal entries to account for byron ltd rights
: Provide the journal entries to account for the Byron Ltd rights issue. Byron required additional equity funding and decided to issue renounceable rights offer.
|
|
Find what is the NPV of this project
: Symon Meats is looking at a new sausage system with an installed cost of $245,000. Find what is the NPV of this project
|
|
What is the correct depreciation charge
: Yet the car, now worth $28,000 is expected to be $20,000 at the end of the lease term. What is the correct depreciation charge?
|