User Account

All Pages

What amount should be credited to share premium preference

Assignment Help Financial Accounting
Reference no: EM132946042

Problem 1: On Feb. 1, 2021, PT Corporation issued 5,000 shares of P100 par convertible preference shares forP110 per share. One share of preference shares can be converted into 2 shares of PT Corporation's P10 par value ordinary shares at the option of the preference shareholder. On December 31, 2021, when the market was P40per share, all of the preference shares was converted. What amount should be credited to share premium preference on February 1, 2021?

Required to answer. Single choice.

Option 1: P45,000
Option 2: P50,000
Option 3: P55,000
Option 4: P40,000

Reference no: EM132946042

Questions Cloud

Calculate the expected return on the stock : A stock has a beta of 0.88, the expected return on the market is 12%, and the risk-free rate is 2%. Calculate the expected return on the stock.
How would make an income statement : How would make an income statement? The Wooden Chair Group has the following sales and cost data for the year ending 2021.
What is the carrying value of mc investment in dc : On January 1, 2019, Yellow Company issued its P3,000,000, What is the carrying value of MC investment in DC as of December 31, 2021?
Calculate gap for this bank : Calculate GAP for this bank and if interest rate rises by 1%, how much of this bank's income will go up or down
What amount should be credited to share premium preference : On Feb. 1, 2021, PT Corporation issued 5,000 shares of P100. What amount should be credited to share premium preference on February 1, 2021?
What amount should be reported as basic earnings per share : No dividends were declared in2020 and 2019. Profit for the year 2020was P 900,000. What amount should be reported as basic earnings per share?
What entry should golden make to record the june transaction : On this date, Golden had 65,000 shares issued and 5,000 shares in the treasury. What entry should Golden make to record this June 1 transaction?
Find the book value per share of ordinary share is : Find the book value per share of Ordinary Share is. Ordinary Share, P 5 par, value 1,320,000 shares issued P 6,600,000. Retained Earnings P 500,000.
How much will sally expect to have in account : Beginning on her 40 birthday, If the account has an expected annual return of 6%, how much will Sally expect to have in her account on her 65 birthday?

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