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  • Chapter 6 Problems (Corporation)

    Enviado por

    Xam Lawrenz Ramos
    4K visualizações10 páginas
    The document outlines stock issuances by Villarama Corporation. It shows cash receipts, land received, and stock issued at par or stated value in exchange. Common stock has a stated value of P10 per share while preferred stock has a par value of P50 per share. By the end of 2015, Villarama Corporation had total stockholders' equity of P1,421,000 consisting of common stock, preferred stock, additional paid-in capital, and a deficit from organization expenses.

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    Corporation example problems

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    The document outlines stock issuances by Villarama Corporation. It shows cash receipts, land received, and stock issued at par or stated value in exchange. Common stock has a stated value of P10 per share while preferred stock has a par value of P50 per share. By the end of 2015, Villarama Corporation had total stockholders' equity of P1,421,000 consisting of common stock, preferred stock, additional paid-in capital, and a deficit from organization expenses.

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato XLSX, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    4K visualizações10 páginas

    Chapter 6 Problems (Corporation)

    Enviado por

    Xam Lawrenz Ramos
    The document outlines stock issuances by Villarama Corporation. It shows cash receipts, land received, and stock issued at par or stated value in exchange. Common stock has a stated value of P10 per share while preferred stock has a par value of P50 per share. By the end of 2015, Villarama Corporation had total stockholders' equity of P1,421,000 consisting of common stock, preferred stock, additional paid-in capital, and a deficit from organization expenses.

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato XLSX, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 10

    COMMON PREFERRED

    1. Issuance of Stock at CASH XX CASH


    PAR COMMON STOCK XX PREFERRED STOCK

    2. SUBSCRIPTION of SUBSCRIPTION RECEIVABLE XX SUBSCRIPTION RECEIVABLE


    Stock at PAR SUBSCRIBED COMMON STOCK XX SUBSCRIBED PREFERRED STOCK

    3. COLLECTION OF
    PAYMENT FROM SUBSCRIBED COMMON STOCK XX SUBSCRIBED PREFERRED STOCK
    SUBSCRIBER SUBSCRIPTION RECEIVABLE XX SUBSCRIPTION RECEIVABLE

    CASH XX CASH
    COMMON STOCK XX PREFERRED STOCK

    CASH XX CASH
    4. ISSUANCE OF STOCK AT COMMON STOCK XX PREFERRED STOCK
    HIGHER THAN PAR ADDITIONAL PAID IN CAPITAL - COMMOXX ADDITIONAL PAID IN CAPITAL-PR
    PREFERRED
    XX
    RRED STOCK XX

    ON RECEIVABLE XX
    CRIBED PREFERRED STOCK XX

    D PREFERRED STOCK XX
    CRIPTION RECEIVABLE XX

    XX
    RRED STOCK XX

    XX
    RRED STOCK XX
    TIONAL PAID IN CAPITAL-PR XX
    ORDINARY SHARES HAS A 100 PAR VALUE
    12-Feb CASH 100,000.00
    COMMON STOCK 100,000.00

    10-Jul CASH 630,000.00


    COMMON STOCK 500,000.00
    ADDITIONAL PAID IN CAPITAL 130,000.00

    5-Nov CASH 1,050,000.00


    COMMON STOCK 750,000.00
    ADDITIONAL PAID IN CAPITAL 300,000.00

    ORDINARY SHARES HAS A P10 STATED VALUE


    12-Feb CASH 100,000.00
    COMMON STOCK 100,000.00

    10-Jul CASH 630,000.00


    COMMON STOCK 630,000.00

    5-Nov CASH 1,050,000.00


    COMMON STOCK 1,050,000.00

    ORDINARY SHARES HAS NO PAR OR STATED VALUE.


    12-Feb CASH 100,000.00
    COMMON STOCK 100,000.00

    10-Jul CASH 630,000.00


    COMMON STOCK 630,000.00

    5-Nov CASH 1,050,000.00


    COMMON STOCK 1,050,000.00
    PROBLEM #2 ISSUANCE
    23-May CASH 72,000.00 PAR VALUE
    COMMON STOCK 60,000.00 EXCESS
    ADDITIONAL PAID-IN CAPITAL 12,000.00 # OF SHARES ISSUED
    APIC

    19-Jun CASH 212,500.00 ISSUANCE


    COMMON STOCK 187,500.00 PAR VALUE
    ADDITIONAL PAID-IN CAPITAL 25,000.00 EXCESS
    # OF SHARES ISSUED
    APIC

    PROBLEM #4
    10-Feb CASH 6,450,000.00 ISSUANCE
    COMMON STOCK 6,375,000.00 PAR VALUE
    ADDITIONAL PAID-IN CAPITAL 75,000.00 EXCESS
    # OF SHARES ISSUED
    APIC

    27-Feb LAND 920,000.00 LAND & BLDG


    BUILDING 1,087,500.00 PAR VALUE
    COMMON STOCK 1,827,500.00 APIC
    ADDITIONAL PAID-IN CAPITAL 180,000.00

    3-Mar CASH 2,422,000.00 CASH RECEIPT


    COMMON STOCK 2,380,000.00 PAR VALUE
    ADDITIONAL PAID-IN CAPITAL 42,000.00 EXCESS
    # OF SHARES ISSUED
    APIC
    18.00
    PAR VALUE 15.00
    3.00
    # OF SHARES ISSUED 4,000.00
    12,000.00

    17.00
    PAR VALUE 15.00
    2.00
    # OF SHARES ISSUED 12,500.00
    25,000.00

    86.00
    PAR VALUE 85.00
    1.00
    # OF SHARES ISSUED 75,000.00
    75,000.00

    LAND & BLDG 2,007,500.00


    PAR VALUE 1,827,500.00
    180,000.00

    CASH RECEIPT 86.50


    PAR VALUE 85.00
    1.50
    # OF SHARES ISSUED 28,000.00
    42,000.00
    PROBLEM #7

    10-Jan CASH 350,000.00


    COMMON STOCK 100,000.00
    ADDITIONAL PAID-IN CAPITAL - COMMON 250,000.00

    1-Mar CASH 550,000.00


    PREFERRED SHARES 500,000.00
    ADDITIONAL PAID-IN CAPITAL - PREFERRED 50,000.00

    1-Apr LAND 85,000.00


    COMMON STOCK 25,000.00
    ADDITIONAL PAID-IN CAPITAL - COMMON 60,000.00

    1-May CASH 300,000.00


    COMMON STOCK 75,000.00
    ADDITIONAL PAID-IN CAPITAL - COMMON 225,000.00

    1-Aug ORGANIZATION EXPENSE 50,000.00


    COMMON STOCK 10,000.00
    ADDITIONAL PAID-IN CAPITAL - COMMON 40,000.00

    1-Sep CASH 30,000.00


    COMMON STOCK 5,000.00
    ADDITIONAL PAID-IN CAPITAL - COMMON 25,000.00

    1-Nov CASH 106,000.00


    PREFERRED SHARES 100,000.00
    ADDITIONAL PAID-IN CAPITAL - PREFERRED 6,000.00

    CASH
    1,336,000.00

    LAND
    85,000.00

    VILLARAMA CORPORATION
    COMMON STOCK STOCKHOLDERS' EQUITY
    215,000.00 AS OF DECEMBER 31, 2015

    PREFERRED STOCK
    600,000.00 SHARE CAPITAL
    COMMON SHARES, AUTHORIZED 50,000 SHARES NO-PAR AT STATED VALUE OF P10
    APIC-COMMON PREFERRED SHARES, AUTHORIZED 20,000 SHARES 50 PAR VALUE
    600,000.00
    ADDITIONAL PAID-IN CAPITAL
    APIC-PREF COMMON SHARES
    56,000.00 PREFERRED SHARES
    TOTAL PAID-IN CAPITAL
    ORGANIZ EXP RETAINED EARNINGS (DEFICIT)
    50,000.00 TOTAL STOCKHOLDERS' EQUITY
    PREFERRED, PAR VALUE P50
    COMMON, NO PAR, STATED VALUE P10
    RECEIPT OF CASH 350,000.00
    COMMON STOCK @10 100,000.00 NOTE:
    APIC 250,000.00 COMMON STOCK = ORDINARY SHARES
    ADDITIONAL PAID-IN CAPITAL = SHARE PREMIU
    RECEIPT OF CASH 550,000.00 PREFERRED STOCK = PREFERENCE SHARES
    PREFERRED @P50 500,000.00
    APIC 50,000.00

    LAND 85,000.00
    COMMON STOCK @10 25,000.00
    APIC 60,000.00

    RECEIPT OF CASH 300,000.00


    COMMON STOCK @10 75,000.00
    APIC 225,000.00

    ORGANIZATION EXPENSE 50,000.00


    COMMON STOCK @10 10,000.00
    APIC 40,000.00

    RECEIPT OF CASH 30,000.00


    COMMON STOCK @10 5,000.00
    APIC 25,000.00

    RECEIPT OF CASH 106,000.00


    PREFERRED @P50 100,000.00
    APIC 6,000.00
    STATED VALUE OF P10 215,000.00
    600,000.00
    815,000.00

    600,000.00
    56,000.00 656,000.00
    1,471,000.00
    (50,000.00)
    1,421,000.00
    ORDINARY SHARES
    N CAPITAL = SHARE PREMIUM
    = PREFERENCE SHARES

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