PLEASE ANSWER AND MAKE A SOLUTION.

1. The capital accounts of Kamprad, Inc. on December 31, 2019, were as follows:

Preference share capital, 20,000 shares, $20 par = $400,000 Share premium - preference = 160,000 Ordinary share capital, 50,000 shares, $80 par = 4,000,000 Share premium ordinary = 600,000 Retained earnings = 360,000

During the year ending December 31, 2010, the following summarizes the transactions affecting the shareholders equity

April 30 - 1,000 preference shares were retired at $25 per share.

June 15 - 2,000 treasury shares, ordinary, were purchased at $85 per share.

June 30 - A two-for-one ordinary share split was declared.

July 31 - 800 treasury shares were reissued at $50 per share.

Dec. 31 Profit for 2010 was $300,000.

What was the total share premium on December 31, 2020?

a. $760,000 c. $755,000

b. $766,000 d. $761,000

2. Black Corporation was organized on January 3, 2020. Black was authorized to issue 50,000 ordinary shares with a par value of P$10 per share. On January 4, Black issued 30,000 ordinary shares at $25 per share. On July 15, Black issued an additional 10,000 shares at $20 per share. Black reported income of $33,000 during 2020. In addition, Black declared a dividend of $0.50 per share on December 31, 2020. The amount reported on Black Corporation's December 31, 2020, balance sheet as shareholders' equity was

a. $400,000 c. $550,000

b. $950,000 d. $963,000

3. White Corporation was incorporated on June 1, 2020 with an authorized 200,000, no-par, ordinary shares, stated value $10 and 10,000, 9% par value $30, preference shares. Transactions affecting companys equity as of July 31, 2020 were as follows:

June 1 - 50,000 ordinary shares were issued at $10.

June 5 - Assets with a total appraised value of $600,000 were acquired in exchange for 50,000 ordinary shares.

June 15 - Subscriptions were received for 100,000 ordinary shares at $15 and for 5,000 preference shares at $35.

June 25 - Payments in full for the ordinary and preference shares subscribed June 15 were received and the corresponding shares were issued.

The total shareholders equity as of July 31, 2020 is

a. $2,875,000 c. $2,750,000

b. $2,300,000 d. $2,775,000