Jan. 1 Issued for cash 62,500 preference shares at par, and 125,000 ordinary shares f 250,000 shares of P100 par value 10% preference share capital and 500,000 shares of a The Integrity Corporation was incorporated on January 1, 2014 with authorized capital Exercise 8 - 1 (Issuance of Par Value S stated value ordinary share capital. The shares were issued during 2014 as follows P25. May 1 Issued for cash 25,000 preference shares for P3,000,000. Dec. 1 Issued for cash 25,000 ordinary shares for P600,000. Instructions: Prepare the journal entries to record the foregoing transactions, includine authorized share capital, assuming the use of: a. memorandum entry method. b. journal entry method

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares par value, USD600,000 Ordinary Share premium USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: а. 2,500 shares were repurchased as treasury shares at a price of USD28 per share. b. share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. per с. d. Sizzle Company reported a net income of USD120,000 for the current year. Please calculate the balance of the Share Premium – Treasury Shares account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.

need help

Sh44

ABC Co. is authorized to issue 5,000,000, $6 par ordinary shares and 100,000, $50 par 9% cumulative preference shares. At the end of 2017, the company has the following equity accounts: Account |Share capital-ordinary Share capital-preference |Share premium-ordinary |Share premium-preference Treasury shares |Retained Earnings Balance @ 31/12/2017 ($) 1,800,000 | 1,000,000 400,000 500,000 320,000 | 2,000,000 Additional information: SHARE There were 260,000 ordinary shares outstanding at 31/12/2017. • The company did not pay any preference dividends for the year 2017. The following equity transactions occurred during the year 2018 (in chronological order). 1. Declared and paid the preference dividends in arrears by reissuing 10,000 treasury shares. 2. Issued 5,000 preference shares at $55 per share. 3. Sold 15,000 treasury shares at $9 per share. 4. Announced a 2 for 1 share split for ordinary shares 5. Declared and distributed a 5% share dividend to outstanding ordinary shareholders.…

im.3 answer must be in proper format or i will give down vote

Vikrambhai

Instructions The shareholders' equity section of Superior Corporation's balance sheet as of December 31, 2015, is as follows: Shareholders' Equity Preferred stock, $100 par value; authorized, 300,000 shares; issued, 33,000 shares $3,300,000 Common stock, $5 par value; authorized, 2,000,000 shares; issued, 377,000 shares 1,885,000 Paid-in capital in excess of par-preferred 96,000 Paid-in capital in excess of par-common 825.000 Retained earnings 2,920,000 $9,026,000 The following events occurred during 2016: Jan. 5 10,500 shares of authorized and unissued common stock were sold for $7 per share. 16 10,000 shares of authorized and unissued preferred stock were sold for $108 per share. Apг. 1 79,000 shares of common stock were repurchased for the treasury at a price of $21 per share. Superior uses the cost method to account for treasury stock. Sept. 1 3,500 shares of preferred stock are issued in exchange for a piece of land. The land has an appraised value of $389,500. The preferred stock…

Question(C) 1. On Septensber 1, 2015, Valdez Company reacquired 12,000 shares of ths$10par value ondinary shares for$15per share. Valdez uses the cost method to account for treasury shares. The joumal entry to record the reacquisition of the shares should debit a. Treasury Shares for$120,000. b. Share Capital-Ordinary for$120,000. c. Share Capital-Ordinary for$120,000and Share Premium-Ordinary for$60,000. 2. Long Co, issued 100,000 shares of$10par ordinary shares for$1,200,000. Long aequired 8,000 shares of its own shares at 515 per share. Three months later Long sold 4,000 of these shares at$19per share. If the cost method is used to record treasury shares transactions, to record the sale of the 4,000 treasury shares, Long should credit a. Treasury Shares for$76,000. b. Treasury Shares for$40,000and Share Premium-Treasury for$36,000. c. Treasury Shares for$60,000and Share Premium-Treasury Stock for$16,000. d. Treasury Shares for$60,000and Share Premium-Ordinary for$16,0003. Glavine…