On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share.  The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000 On the same date, Funk Company declared a 1 for 5 share split.  Immediately before the split, the total Share premium was P1,500,000.  If half of the treasury shares were reissued at P10 per share, the entry to record the reissuance shall involve: a. Debit to Accumulated profits at P425,000. b. Debit to Accumulated profits at P850,000. c. Credit to Share premium at P425,000. d. Credit to Share premium at P850,000.

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Balance in Funk Company’s Ordinary share account after the share split = No. of ordinary shares x…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Balance in ordinary shares before split=Number of shares×Par value=400,000×P25=P 10,000,000

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Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: The stock split refers to cancel the old shares issued and issuing new shares against old shares.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.