User Account

All Pages

Prepare journal entries for alyssa corporation

Assignment Help Financial Accounting
Reference no: EM132902256

Alyssa Corporation had the following transactions in the no-par value ordinary shares of Dada Corporation which she is holding as a long-term investment;

  1. Purchased 1,000 shares at P90 per share.
  2. Received a 20% stock dividend.
  3. Received a cash dividend of P1 per share.
  4. By proper resolution, there was a 2-for-1 split.
  5. Received rights to purchase Yssa ordinary shares at P85 per share. Four rights were required to purchase one new share. Rights have a market value of P 3 each and the stock is selling ex-rights at P97 per share.
  6. Exercised 400 rights.
  7. Sold the remaining rights at 120% of the cost.
  8. Sold 1,000 shares at P45 per share. Use FIFO method.

Required:

Problem 1: Prepare journal entries

Reference no: EM132902256

Questions Cloud

Interprofessional collaberation : Interview a student or practitioner of another healthcare profession to determine the impact of COVID-19 on their practice.
Features of best practice in performance management : What are the features of best practice in performance management?
Prepare company income statement for its first month : Fixed selling and administrative expense 90,000. Prepare this company's income statement for its first month of operations under absorption costing
Application of business principles to sport industry : What Great Managers Do, Buckingham, 2005In so much as sport management is the application of business principles to the sport industry,
Prepare journal entries for alyssa corporation : Prepare journal entries for Alyssa Corporation. Received rights to purchase Yssa ordinary shares at P85 per share. Four rights were required to purchase one new
Researchers need to apply ethical principles : What are the 5 reasons why researchers need to apply ethical principles to the research they conduct.
Why is the rationale for the decision not necessarily : Why is the rationale for the decision not necessarily an appropriate one? What else needs to be considered
What amount will the abc corporations net cash provided : Depreciation expense-P10,000. What amount will the ABC Corporation's Net Cash Provided (Used) by Operating Activities on the cash flow statement?
Is plant asset qualified as non-current assets held-for sale : Is the plant assets qualified as "non-current assets held-for-sale"? Beth Ong Company has stopped using certain plants because of a downturn.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Name two types of malware

Name two types of Malware and briefly describe their behaviors. As a security administrator in your organization, what are the processes

  Prepare a statement of net cost

The Rural Assistance Agency operates three major programs as responsibility centers- Prepare a statement of net cost for the Rural Assistance Agency for the year ended September 30, 2017.

  How financial recognition considering ifrs

How financial recognition considering IFRS 15.?Company also charging 25% commission on each order value to the restaurant.

  Preparation of a classified balance sheet

Assume that Denis Savard Inc. has the following accounts at the end of the current year. Common Stock. Discount on Bonds Payable. Treasury Stock (at cost). Notes Payable (short-term).

  Prepare the journal entries to record the lease payments

Prepare the journal entry to record depreciation of the equipment for the first year using the straight-line method. Prepare the journal entries to record the lease payments for the first two years.

  Statement of cash flows using the indirect methods

Prepare the cash flows from operating activities section only of the company’s 2013 statement of cash flows using the indirect methods

  Which compounds interest monthly

How long will it take your initial $108,000 investment to reach the desired level at First Bank, which pays simple interest?

  Income tax expense is shown as part of operating expenses

Income tax expense is shown as part of operating expenses. Income from operations would increase other income. Gains and losses on the sales of investments are included in nonoperating income (loss).

  How inventory write-off affect cash flow from operation

How does the preparation of a statement of cash flows differ for a consolidated entity compared with that of a single corporate entity?

  Illustrate what is the journal entry at the end of current

At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $2.2 million. Illustrate what is the journal entry at the end of the current fiscal year?

  Elaborate wedding cakes

Gabby's Wedding Cakes creates elaborate wedding cakes

  Market value of the facility is now estimated

The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market value of the facility is now estimated at $42,000,000, and the general manager estimates that the level of guest service is wo..

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