Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

East Co. issued 1,000 shares with P5 par to Howe as compensation for 1,000 hours of legal services performed. Howe usually bills P160 per hour

East Co. issued 1,000 shares with P5 par to Howe as compensation for 1,000 hours of legal services performed. Howe usually bills P160 per hour for legal services. On the date of issuance, the share was trading on a public exchange at P140. By what amount should the share premium account increase as a result of the transaction?

Thank youuuu

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Financial Accounting A Business Process Approach

Authors: Jane L Reimers

2nd Edition

131473867, 978-0131473867

More Books

Students also viewed these Accounting questions

Question

★★★★★

What are some guidelines for a successful SMT?

Answered: 1 week ago

Question

★★★★★

List five reasons why organizations outsource. When should an organization choose not to outsource? Why are some organizations beginning to rural source? LO.1

Answered: 1 week ago

Question

★★★★★

What are some of the topics studied?

Answered: 1 week ago

Question

★★★★★

The income statement disclosed the following items for 2014: Depreciation expense .......... $ 72,000 Gain on disposal of equipment....... 42,000 Net income ............... 635,000 Balances of the...

Answered: 1 week ago

Question

★★★★★

The YTM on a bond is the interest rate you earn on your investment if interest rates don't change. If you actually sell the bond before it matures, your realized return is known as the holding period...

Answered: 1 week ago

Question

★★★★★

Blaze Scooters is considering expanding into a new college town and has the following operating data: Initial Investment in scooters (year 0): \$107563 Cost of securing permits (assume that permit...

Answered: 1 week ago

Question

★★★★★

its in-coming taxi Sh. H. Mukherjee constructed a building on 30th June, 2011. It had two flats of equal dimensions. One flat was let out to a tenant for residential purpose on a monthly rent of Rs...

Answered: 1 week ago

Question

★★★★★

Which of the following constitute barriers to training evaluation? a. Too much trainer expertise and lack of stakeholder interest or accountability. b. Ability to access key stakeholders and...

Answered: 1 week ago

Question

★★★★★

Find and post an article, video, or interview on why Compliance is important in an organization. Explain why you selected the particular document or materials.

Answered: 1 week ago

Question

★★★★★

What was the positive value of Max Weber's model of "bureaucracy?"

Answered: 1 week ago

Question

★★★★★

NHIKNHAK Enterprises has determined the cost of manufacturing a unit of product as follows, based on normal production of 60,0000 units per year: Direct materials Direct labor Variable factory...

Answered: 1 week ago

Question

★★★★★

7. Imagine a communication situation in a work context or in the home situation that has made a big impression on you, positively or negatively. a. Examine now i. your own intentions ii. what you...

Answered: 1 week ago

Question

★★★★★

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

★★★★★

The role of life: It consists of your own service to yourself.

Answered: 1 week ago

Previous Question Next Question