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What is the balance of the share capital as of year-end?
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- Juniper Company is authorized to issue 5,000,000 shares of $2 par value common stock. In conjunction with its incorporation process and the IPO, the company has the following transaction: Mar. 1, issued 4,000 shares of stock in exchange for equipment worth $250,000. Journalize the transaction.Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. 1. How much did the highest bidder…
- APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. 3. What is the balance of the share…APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. Requirements:Compute for the following:4.…APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received cash subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. 6. How much is the corporation’s…
- APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. 3. What is the balance of the share…APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. Compute for the following:1. How much did…APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. 4. What is the balance of the subscribed…
- APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. a. Prepare all necessary entries for the…An entity was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received cash subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. Requirements:A. Prepare all necessary…APPLE Company was organized at the beginning of the current year and was authorized to issue sharecapital of 200,000 ordinary shares with par value of ₱20. The following transactions occurred duringthe year:• Received subscriptions at par value from incorporators equal to 45% of the authorized sharecapital• Received 60% down payment on the subscriptions from the incorporators• Received full payment on 50,000 shares originally subscribed• An equipment was acquired by issuing 5,000 shares. Share are currently traded at this timeat ₱25/share.• Received subscriptions to 10,000 shares at ₱28/share• Partially collected 50% of the amount subscribed on the latest subscriptions.• Collected in full 90% of the latest subscription. 10% defaulted, thus the corporation offered theshares on a public auction and awarded it to the highest bidder who paid the delinquencybalance and the incurred ₱5,000 auction expense.• Net income for the year-ended was ₱800,000. B. Compute for the following:1. How…
