User Account

All Pages

What should be the balance of the ordinary share capital

Assignment Help Financial Accounting
Reference no: EM132818924

Question - Corporation: Formation and Share Capital Transactions Supply the required information.

A. During its first year of operations Gambas Corporation had the following transactions relating to its ordinary shares:

Issued 80,000 shares for cash at 60 per share.

Issued 500 shares to lawyers in payment of a bill for 35,000 for services rendered in helping the company to register the corporation.

Issued 30,000 shares for cash at 68 per share.

Issued 10,000 shares for cash at 75 per share.

1. If the par value of the share is 50, what should be the balance of the Ordinary Share Capital?

2. If the par value of the share is 60, what should be the balance of the Share Premium-Ordinary Share?

3. If the share capital has no par value and no stated value, what should be the balance of the Ordinary Share Capital?

Reference no: EM132818924

Questions Cloud

What is the par value of the preference share capital : Subscription receivable-preference share due, due March 1, 2022 125,000. What is the par value of the preference share capital
Summarize the current state of competition in the industry : Summarize the current state of competition in this industry. Assess if Nike continuing to pull away from rivals, or if they are catching up.
Differences of leadership and management roles : What are some similarities and differences of leadership and management roles as they relate to human services organizations?
Define the concept of adaptiveness : Define the concept of adaptiveness and discuss its importance to an organization?
What should be the balance of the ordinary share capital : If the share capital has no par value and no stated value, what should be the balance of the Ordinary Share Capital
Perspective of different stakeholders : Consider a school's culture, norms, and climate from the perspective of different stakeholders. Stakeholders can range from bus drivers, parents
Describe possible treatments for the individual : Identify aspects of the individual's life that may have contributed to the development of this disorder. Describes possible treatments for this individual.
Is knowledge of an asset current market value ever useful : Compare and contrast the historical cost principle and current (fair) market value. Is knowledge of an asset's current market value ever useful?
What interest rate would he need : Jojuan wants to buy a used car for $12,000 but can only afford $200 a month. What interest rate would he need to find to be able to afford the car

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