Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

b . On January 1 , 2 0 2 4 , the company's equity statement shows the Share Capital account - Ordinary ( $ 1

b. On January 1,2024, the company's equity statement shows the Share Capital account - Ordinary ($1
Par; 1,000,000 Issued & Outstanding) of $1,000,000 and Share Premium - Ordinary of
$2,000,000.
The company conducted a 4-for-1 stock split on April 1,2024 and declared a stock dividend
ordinary rate of 10% on July 1,2024. The market price on that date was $0.6 per share.
Question: What is the Share Premium - Ordinary account balance on December 31,2024?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions