User Account

All Pages

What amount is allocated to the preference shares

Assignment Help Financial Accounting
Reference no: EM132756536

Question - COMBO Co. issued 20,000 shares of its P25 par value ordinary shares and 4,000 shares of its P50 par value preference shares for a total of P350,000 cash and an equipment with acquisition cost of P900,000, book value of P450,000 and fair value of P500,000. On that date, the fair value of ordinary shares is P30. What amount is allocated to the preference shares and the journal entry to record the issuance of the shares?

Reference no: EM132756536

Questions Cloud

What would have been possible reasons for such outbreaks : Discuss in detail about the countries which have faced epidemics in the past. What would have been the possible reasons for such outbreaks?
What is dividend yield at the end of year two : $80 per share at the end of Year One. The preferred stock is selling for $40 at the end of Year Two. What is its dividend yield at the end of Year Two?
Intellectual property infringement : 1. Reverse engineering cannot always be considered intellectual property infringement.
Find what is the book value of the preferred stock : 10,000 shares of common stock have been issued and are outstanding. Assuming no dividends are in arrears, what is the book value of the preferred stock?
What amount is allocated to the preference shares : On that date, the fair value of ordinary shares is P30. What amount is allocated to the preference shares and the journal entry to record the issuance of shares
Discuss the success of the software industry : Discuss the success of the software industry in India. How do the four factors in Porter's diamond explain the success of this industry
Laws of behavior and biopsychology : Do you think morality must disappear if everything we do can be explained according to scientific laws and patterns?
Recommendations on accident prevention and safety promotion : Offer recommendations on accident prevention and safety promotion as they relate to the selected environmental factor and the health or safety of infants.
Explain elements of critical thinking : Explain elements of critical thinking, language and the fallacies, as well as over deductive and inductive critical thinking.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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