Question
HI :) can you help me solve these problems? thank you... 1.Queenie Corporation was incorporated on January 2, 2019. The following information pertaining to Queenie's
HI :) can you help me solve these problems? thank you...
1.Queenie Corporation was incorporated on January 2, 2019. The following information pertaining to Queenie's ordinary share transactions:
01/02/19number of shares authorizedP80,000
02/01/19number of shares issued60,000
07/01/19number of shares reacquired but not canceled5,000
12/01/19 two-for-one share split
What is the number of Queenie Corporation's ordinary share outstanding at December 31, 2019?
2.Of the 125,000 ordinary shares issued by Lay Company, 25,000 were held as treasury shares on December 31, 2018. During 2019, transactions involving Lay's ordinary shares were as follows:
January 1 through October 31, - 13,000 treasury shares were distributed to officers as part of share compensation plan.
November 1- A 3-for-1 share split took effect.
December 1- Lay purchased5,000 of its own shares to discourage an unfriendly takeover. These shares were not retired.
At December 31, 2019 how many shares of Lay' Company's ordinary share capital were issued?
3.Use the same information given in No. 2. How many shares of Lay Company ordinary share capital were outstanding?
4.On May 1, 2019, Maine Company issued P2 million, 20-year, 10%bonds forP2,120,000. Each P1,000 bond had a detachable warrant eligible for the purchase of one share of Maine's P50 par ordinary share for P60. Immediately after the bonds were issued, Maine's securities had the following market values: 10% bonds without warrants-P1,040; warrants - P20; Ordinary share P50 par-P56.
What amount should Maine record as additional paid-in capital?
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