On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par convertible preference shares for a lump sum price of P45,000. At this date, Nokia's ordinary and preference were selling at P18 and P14 per share, respectively. C. 9. What is the amount credited to Share Premium Ordinary? 10. What is the amount credited to Share Premium Preference? Bosch Corporation was organized on January 1, 2018. It was authorized by the Securities and Exchange Commission to issue share capital of P5,000,000 divided into 50,000 shares of P100 par value ordinary share capital. The incorporators immediately subscribed to 12,500 shares at par. D. How much must be paid by the incorporators upon subscription in order that it would requirements of the SEC? 11. meet the On April 1, 2018, Globe Corporation, a newly formed company, had the following share capital issued and outstanding: E. Ordinary Share Capital, no par, P10 stated value, 20,000 shares originally issued at P30 per share. Preference Share Capital, P100 par, 600 shares originally issued at P500 per share. 12. What are the amounts of Ordinary Share Capital, Preference Share Capital, and Additional Paid in Capital, respectively, that Globe Corporation should report in its April 1, 2018 statement of shareholders' equity?
On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par convertible preference shares for a lump sum price of P45,000. At this date, Nokia's ordinary and preference were selling at P18 and P14 per share, respectively. C. 9. What is the amount credited to Share Premium Ordinary? 10. What is the amount credited to Share Premium Preference? Bosch Corporation was organized on January 1, 2018. It was authorized by the Securities and Exchange Commission to issue share capital of P5,000,000 divided into 50,000 shares of P100 par value ordinary share capital. The incorporators immediately subscribed to 12,500 shares at par. D. How much must be paid by the incorporators upon subscription in order that it would requirements of the SEC? 11. meet the On April 1, 2018, Globe Corporation, a newly formed company, had the following share capital issued and outstanding: E. Ordinary Share Capital, no par, P10 stated value, 20,000 shares originally issued at P30 per share. Preference Share Capital, P100 par, 600 shares originally issued at P500 per share. 12. What are the amounts of Ordinary Share Capital, Preference Share Capital, and Additional Paid in Capital, respectively, that Globe Corporation should report in its April 1, 2018 statement of shareholders' equity?
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 28E
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Question
Kindly answer number 10, 11, and 12 please. Show solution.
Transcribed Image Text:On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares
and 2,000 P10 par convertible preference shares for a lump sum price of
P45,000. At this date, Nokia's ordinary and preference were selling at P18
and P14 per share, respectively.
С.
9.
What is the amount credited to Share Premium
Ordinary?
10.
What is the amount credited to Share Premium
Preference?
D.
Bosch Corporation was organized on January 1, 2018. It was authorized by
the Securities and Exchange Commission to issue share capital of
P5,000,000 divided into 50,000 shares of P100 par value ordinary share
capital. The incorporators immediately subscribed to 12,500 shares at par.
How much must be paid by the incorporators upon
subscription in order that it would meet the
requirements of the SEC?
11.
On April 1, 2018, Globe Corporation, a newly formed company, had the
following share capital issued and outstanding:
E.
Ordinary Share Capital, no par, P10 stated value, 20,000 shares
originally issued at P30 per share.
Preference Share Capital, P100 par, 600 shares originally issued at
P500 per share.
What are the amounts of Ordinary Share Capital,
Preference Share Capital, and Additional Paid in
Capital, respectively, that Globe Corporation should
report in its April 1, 2018 statement of shareholders'
equity?
12.
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