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- The Shareholders' Equity of Jackie Company as of December 31, 2021 is as follows: [Refer to the figure]. The following transactions occurred during 2022. January 15 - It issued 1,300 treasury shares for P40 each. February 1 - Sold 180, P1,000, 9% bonds due February 1, 2032 at 103 with one detachable share warrant to each bond. Interest is payable annually February 1. The fair market value of the bonds without the share warrants is 95. The warrants have a fair value of P50 each and will expire on February 1, 2023. Each warrant entitles the holder to purchase 10 ordinary shares at P40 per share. March 6 - 2,800 ordinary shares were subscribed at P44 each. 40% of the subscription was collected. March 20 - The balance due on 2,400 shares was received and those shares were issued. November 1 - There were 110 share warrants detached from the bonds and exercised. The company's net income for 2022 is P950,000 Ordinary Share Capital, P2 par value, 1,000,000 shares authorized, 177,580…The Shareholders' Equity of Jackie Company as of December 31, 2021 is as follows: [Refer to the figure]. The following transactions occurred during 2022. January 15 - It issued 1,300 treasury shares for P40 each. February 1 - Sold 180, P1,000, 9% bonds due February 1, 2032 at 103 with one detachable share warrant to each bond. Interest is payable annually February 1. The fair market value of the bonds without the share warrants is 95. The warrants have a fair value of P50 each and will expire on February 1, 2023. Each warrant entitles the holder to purchase 10 ordinary shares at P40 per share. March 6 - 2,800 ordinary shares were subscribed at P44 each. 40% of the subscription was collected. March 20 - The balance due on 2,400 shares was received and those shares were issued. November 1 - There were 110 share warrants detached from the bonds and exercised. The company's net income for 2022 is P950,000 Compute the ending balance of the Ordinary Share Capital account. Compute the…The Shareholders' Equity of Jackie Company as of December 31, 2021 is as follows: [Refer to the figure]. The following transactions occurred during 2022. January 15 - It issued 1,300 treasury shares for P40 each. February 1 - Sold 180, P1,000, 9% bonds due February 1, 2032 at 103 with one detachable share warrant to each bond. Interest is payable annually February 1. The fair market value of the bonds without the share warrants is 95. The warrants have a fair value of P50 each and will expire on February 1, 2023. Each warrant entitles the holder to purchase 10 ordinary shares at P40 per share. March 6 - 2,800 ordinary shares were subscribed at P44 each. 40% of the subscription was collected. March 20 - The balance due on 2,400 shares was received and those shares were issued. November 1 - There were 110 share warrants detached from the bonds and exercised. The company's net income for 2022 is P950,000 Ordinary Share Capital, P2 par value, 1,000,000 shares authorized, 177,580…
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- Oriole Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Issued 430,000 shares of stock at $6 per share. Sept. 5 Purchased 34,000 shares of treasury stock at $8 per share. Journalize the transactions for Oriole Corporation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Cash Common Stock Pald-In Capltal In Excess of Stated Value-Common Stock >Neptune Corporation is preparing its December 31, 2018, balance sheet. The following items may be reported as either assets, liabilities or stockholders’ equity. d) During the year, customer advances of $220,000 were received; $110,000 of this amount was earned by December 31, 2018. e) A 10% bonds payable of 1,000,000 was issued on December 31, 2018, due on December 31, 2023. f) Treasury stock of $55,000 has been recorded at cost. Instructions:For each item above indicate the dollar amounts to be reported as assets, liabilities or stockholders’ equity. Mention the classification as well.Your investment department has researched possible investments in corporate debt securities. Among the available investments are the following $100 million bond issues, each dated January 1, 2024. Prices were determined by underwriters at different times during the last few weeks. Company 1. 2. BB Corporation Bond Price $ 109 million Stated Rate 11% DD Corporation $ 100 million 3. GG Corporation $ 91 million 10% 9% Each of the bond issues matures on December 31, 2043, and pays interest semiannually on June 30 and December 31. For bonds of similar risk and maturity, the market yield at January 1, 2024, is 10%. Required: Other things being equal, which of the bond issues offers the most attractive investment opportunity if it can be purchased at the prices stated? The least attractive? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Most attractive investment Least attractive investment
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