Question
HI :) can you help me solve this problem? its all about shareholder's equity.. thank you 1.On March 2, 2019, Nanette Corporation issued 4,000 shares
HI :) can you help me solve this problem? its all about shareholder's equity.. thank you
1.On March 2, 2019, Nanette Corporation issued 4,000 shares of 6% cumulative P100 par value preference share for P480,000. Each preference share carried one detachable share warrant which entitles the holder to acquire at P35, one share of nenette's P10 par ordinary share capital.
On march 2, 2019, the market price of the preference share without the warrants was P110 per share and the market price of the share warrants was P10 per warrant.
What is the amount credited to Share Premium- Preference by Nanette on the issuance of the securities?
2.The following accounts are shown on the statement of financial position of Pay Company:
Share capital, P100 par, 1,000 sharesP100,000
Share premium2,000
Paid-in capital from treasury shares3,000
Retained earnings75,000
Treasury shares, 200 shares at cost25,000
All the 200 treasury shares were sold for P20,000. How would the resale of the treasury shares be recorded?
3.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?
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