Reference no: EM132946083
Celtics Company was incorporated on January 1, 2019 with the following authorized capitalization:
Ordinary share capital, 200,000 shares, P100 stated value - P20,000,000
10% Preference share capital, 200,000shares , P 50 par - P10,000,000
Problem 1: During 2019, the entity issued 150,000 ordinary shares for a total of P 18,000,000 and 50,000preference shares at P 60 per share. In addition, on December 15, 2019, subscription for 20,000 preference shares were taken at a purchase price of P 100. These subscribed shares were paid for on June 15, 2020. Net income for 2019 was P 5,000,000. What amount should be reported as total contributed capital on December 31, 2019?
a. P23,000,000
b. P21,000,000
c, P26,000,000
d. P28,000,000
|
How would each of these accounts appear
: How would each of these accounts appear after: a 6 percent stock dividend (fair market value is $120 per share)
|
|
What was the amount of dividends payable to ordinary share
: On December 31, 2019, the entity declared dividends of P100,000. What was the amount of dividends payable to ordinary share holders?
|
|
What amount should be reported for share premium
: On September 30, 5,000 shares were issued for a tract of land when the fair value was P260 per share. What amount should be reported for share premium?
|
|
M21427 Advanced DSP Techniques Assignment
: M21427 Advanced DSP Techniques Assignment Help and Solution, University of Portsmouth - Assessment Writing Service
|
|
What amount should be reported as total contributed capital
: During 2019, the entity issued 150,000 ordinary shares for a total. What amount should be reported as total contributed capital on December 31, 2019?
|
|
What amount should be credited to ordinary share capital
: The market value of the ordinary share at the conversion date was P40. What amount should be credited to ordinary share capital on December 31, 2020?
|
|
How much interest has your investment earned so far
: Your investment of $9,000 that you started six years ago earned 7.3% compounded quarterly for the first 3¼ years, How much interest has your investment earned
|
|
What is the total amount oft he dividend
: What is the total amount oft he dividend? CT, Inc. has 10,000 shares of 8% P50 par preference shares and 100,000 shares of P4par ordinary shares outstanding
|
|
How much money must you set aside today
: You would like to give your daughter $75,000 towards her college education 20 years from now. How much money must you set aside today
|