Capital-Ordinary 14,000 h 14.000 (Purchased 1,000 ordinary shares for the treasury at 14 per share) 31 Cash 8,500 Share Capital-Ordinary 5.000 Gain on Sale of Shares 3.500 (Sold 500 treasury shares at E17 per share) Instructions On the basis of the explanation for each entry, prepare the entries that should have been made for the ordinary share transactions. Q3 E16.2 (LO 1) (Issuance and Repurchase of Convertible Bonds) Assume the same information in E16.1, except that Angela AG converts its convertible bonds on January 1, 2023 Instructions 1. Compute the carrying value of the bond payable on January 1, 2023. 2. Prepare the journal entry to record the conversion on January 1, 2023 3. Assume that the bonds were repurchased on January 1, 2023, for 1,940,000 cash instead of being converted. The net present value of the liability component of the convertible bonds on January 1, 2023, is 1,900,000. Prepare the journal entry to record the repurchase on January 1, 2023. Q4 Distinguish the key similarities and differences between U.S. GAAP and IFRS related to intangible assets. 1 Cash 0 the following entries for the corporation's ordinary shares. Ma Cash y 2 192,000 Share Capital-Ordinary 192,000 (Issued 12,000 shares of 10 par value ordinary shares at 16 per share) 600,00 0 Share Capital-Ordinary 600,00 O (Issued 10,000 shares of 30 par value preference shares at 60 per share) 15 Share Capital - Ordinary 14,000 Cash 14,000 (Purchased 1,000 ordinary shares for the treasury at 14 per share) 8.500 Share Capital - Ordinary 5,000 Gain on Sale of Shares 3.500 (Sold 500 treasury shares at 17 per share) Instructions On the basis of the explanation for each entry, prepare the entries that should have been made for the ordinary share transactions. 31 Cash Q3 E16.2 (LO 1) (Issuance and Repurchase of Convertible Bonds) Assume the same information in E16.1, except that Angela AG converts its convertible bonds on January 1, 2023 Instructions 1. Compute the carrying value of the bond payable on January 1, 2023. 2. Prepare the iournal entry to record the contorrion on Q1 BE15.3 (LO 1. 2. 4) Wilco SE has the following equity balances at December 31, 2022. Share capital-ordinary, 5 par value Treasury shares Retained earnings 510,000 90,000 2,340,00 0 1.320,000 Share premium ordinary Prepare Wilco's December 31, 2022, equity section in the statement of financial position. Q2 E15.9 (LO 1, 2) (Correcting Entries for Equity Transactions) Davison ple recently hired a new account: with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's ordinary shares. Cash y 192.000 192,000 Share Capital - Ordinary (Issued 12,000 shares of 10 par value ordinary shares at 16 per share 1 Cash 600,00