What amount should cash be debited

Assignment Help Financial Accounting
Reference no: EM132771495

A company issued 20,000 shares of its ?70 par value ordinary share capital and 8,000 of its ?80 par value preference share capital for a total amount of ?2,100,000. At this date, the company's ordinary share capital was selling ?80 per share and the preference share capital was selling for ?100 per share.

Requirements:

Problem 1: At what amount should "CASH" be debited?

Problem 2: At what amount should "Ordinary Share Capital " be credited?

Problem 3: At what amount should "Preference Share Capital " be credited?

Problem 4: At what amount should "Share Premium -Ordinary Share Capital " be credited?

Problem 5: At what amount should "Share Premium -Preference Share Capital " be credited?

Reference no: EM132771495

Questions Cloud

How activities in process function as system : Explain what a process is and how activities in a process function as a system.
What is the total income to be recognized by vien inc : What is the total income to be recognized by Vien Inc. for the year ended December 31, 2020? How much is the Total Franchise Revenue for the year
Does the gig economy appeal to you : Should society help workers dislocated when technology, like the Internet, elimlnates their jobs in a process called ' Creative Destruction'?
Information systems infrastructure-evolution and trends : Research at least two articles on the topic of Information systems infrastructure: evolution and trends.
What amount should cash be debited : What amount should "Share Premium -Preference Share Capital " be credited? At what amount should "Ordinary Share Capital " be credited?
Different groups of workers specialize : Imani Fashions, a clothing manufacturer, uses an assembly-line to manufacture clothes whereby different groups of workers specialize in particular tasks - cutti
Develop realistic job preview for flight attendants : You are the HR manager for a commercial airline. You have been assigned to develop a realistic job preview for flight attendants.
Describe the contributions of upton sinclair : Describe the contributions of Upton Sinclair and Ralph Nader to improve employee and consumer safety. Describe some current ethical issues that businesses face
How much is cash allocated to partner wow upon liquidation : How much is the cash allocated to Partner WOW upon liquidation? WEE, Capital -?64,600. The partners share profits and losses in a 4:4:2 ratio and all partners

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare an income statement for the year 2014

Prepare an income statement for the year 2014 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement.

  Calculate all variances for direct material and direct labor

Calculate all variances for direct material and direct labor for September and What is the standard number of hours allowed for the production of each unit?

  Calculate the current ratio and the acid-test ratio

Calculate the current ratio and the acid-test ratio for Queens Line - Calculate and analyze liquidity ratios

  Identify and analyze the adjustment

For each of the preceding situations, identify and analyze the adjustment to be recorded on December 31, 2014.

  Explain the need for full disclosure in financial reporting

Explain the need for full disclosure in financial reporting. Identify possible consequences of failing to properly disclose certain items in financial statements. What is the full disclosure principle in accounting? Why has disclosure increased subst..

  How to pursue a career as an associate

How to pursue a career as an Associate. what you think in the informational interview the information the manager at PWC would give you

  Why we complicate a very simple way of calculating

The directors are wondering why we complicate a very simple way of calculating long service leave – why not “stick with” recognising the expense when we pay for it? What do you think we should do?

  Prepare journal entrie on zintel book to record combination

Zintel's common stock is traded dynamically and has a current market price of $15 per share. Prepare journal entries on Zintel's books to record the combination.

  Why are crucial for the accounting process

What are at least three questions that business owners might be able to answer by simply looking at the balance sheet's assets and liabilities section?

  Calculate the npv of poseidon shipping

Calculate the NPV of Poseidon Shipping. Round your answer to the nearest $1000.Percy has been asked by his manager to perform an analysis

  Purposely underestimate bids in order to win nasa contracts

Kendahl Plastics Corporation contracts with NASA to manufacture component parts used in communications satellites. NASA reimburses Kendahl on the basis of the actual manufacturing costs it incurs, plus a fixed percentage. Let us assume that it is com..

  Analyze the loan request from the viewpoint of a lender

Analyze the loan request from the viewpoint of a lender who uses the five Cs of credit analysis as an aid in deciding whether to make loans.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd