What total contributed capital amounted to

Assignment Help Financial Accounting
Reference no: EM132796983

Berry Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions took place during 2015, the first year of the corporation's existence:

Sold 5,000 ordinary shares for P18 per share

Issued 5,000 ordinary shares in exchange for a patent valued at P 100,000

Problem 1: At the end of the Berry's first year, total contributed capital amounted to

a. P 40,000 c. P 100,000

b. P 90,000 d. P 190,000

Reference no: EM132796983

Questions Cloud

Explain the financial arguments for companies : Explain the financial arguments for companies entering into the practice of buybacks.
What is the times interest earned ratio-simmons corporation : The Simmons Corporation's income statement is given below. SIMMONS CORPORATION Sales $280,000 Cost of goods sold 211,000 Gross profit 69,000 Fixed
P22004 Supply Chain Management Assignment : P22004 Supply Chain Management Assignment Help and Solution, University of Portsmouth - Assessment Writing Service
What was the depreciation for the first year : . The equipment was depreciated using the straight-line method based on an estimated useful life of nine years. What was the depreciation for the first year
What total contributed capital amounted to : At the end of the Berry's first year, total contributed capital amounted to? Issued 5,000 ordinary shares in exchange for a patent valued at P 100,000
Explain the importance of respecting mahaley family culture : Explain the importance of respecting Mahaley's family culture in this new environment in order to support her healthy development and learning.
Compute the annual loan repayment : 1. An investor borrowed KShs. 4 Millions for investment purposes at an interest rate of 12%. The loan is to be repaid within a period of eight years.
Journalize the entries for the hydraulic lift upgrade : On June 18, GTS Co. paid $1,200 to upgrade a hydraulic lift and $45 for an oil change for one of its delivery trucks. Journalize the entries for hydraulic lift
Determine the amount of the annual depreciation : Problem - A warehouse with a cost of $500,000 has an estimated residual value of $120,000. Determine the amount of the annual depreciation

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find the equilibrium output and equilibrium inflation rate

The aggregate demand curve is: 11 - 0.5p. Find the equilibrium output and the equilibrium inflation rate

  The price per unit of its smart phone products

Talmont products has dropped the price per unit of its smart phone products from $1,060 to $500.00. There are some units in work in process inventory that have costs of $600.00 per unit associated with them. Talmont could sell these units in their cu..

  What are the disadvantages of avco method the purchasing

what are the disadvantages of avco method? the purchasing department had hoped to have a contract finalized to purchase

  State the health care funding method used in alberta

Describe the employer contributions that are specific to the province of Québec, their rates and thresholds.List the health care funding methods used in Canada.

  Sales revenue needed for her business to breakeven

Daisy Childs has decided to start an? e-tail business which will sell doggie treat dispensers. Daisy will sell each unit for? $60, and will purchase the units from a foreign supplier for? $20 each. Import duties are? 10% the amount paid to the foreig..

  What is the event management limited total debt

What is the difference in amount between net working capital and net operating working capital? What is the EML's net operating working capital?

  Write a one-half page report to a local not-for-profit firm

Write a one-half page report to a local not-for-profit organization or government agency offering a solution to the use it or lose it budgeting problem.

  Calculate the amount dennis may deduct as travel expenses

Calculate the amount Dennis may deduct as travel expenses for the trip. Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a three-week business trip during the current tax year

  How do make bank reconciliation for move inc at november

Prepare bank reconciliation for Move, Inc., at November 30. The ledger account for Cash showed a balance at November 30 of 6,750.

  Calculate the maximum depreciation expense during current

During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,600,000. Calculate the maximum depreciation expense during the current year?

  Contribution margin in units

Contribution margin in Units: Using the contribution margin approach, fnd the breakeven point in units for Staten Products if the selling price per unit is $11, the variable cost per unit is $4, and fixed cost are $7,700.

  Interest expense or revenue from this note transaction

The Masterson Company accepted a $30,000, 120 day, 11% interest bearing note dated December 15, 2007 from one of their customers. The customer eventually paid the note at its maturity value. Based on a 360-day year, what amount should Masterson repor..

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