No-par value shares have a minimum stated value of P5.00 per share.Group of answer choicesTrueFalse

Preference shares of stock may be issued with par or no-par valueGroup of answer choicesTrueFalse

Normally companies sell stock for an amount that isMultiple Choiceequal to the par value.less than the par value.more than the par value.None of these choices are correct.

A company issues 10,000 shares of $0.05 par value common stock for $25 per share. Which of the following is recorded at issuance?Multiple ChoiceCredit Common Stock for $500.Credit Additional Paid-In Capital for $500.Credit Additional Paid-In Capital for $250,000.Credit Common Stock for $250,000.

BANANA Corporation is authorized to issue 150,000 ordinary shares at P10 par value and 25,000 preference shares at P25 par value. During its first year of operation, the following share capital transactions have been summarized:Preference Share Capital – P 437,500;Ordinary Share Capital - P 250,000;Share Premium – Preference – P 201,250;Share Premium – Ordinary – P 175,000.00 The average selling price for the preference shares is closest to Group of answer choicesP14.60P36.50P25.00P17.00

Select the correct answerP, Q, R subscribe Rs.50,000 for a business. P subscribes Rs.4000 more than Q and Q Rs.5000 more than R. Out of a total profit of Rs. 25,000 and what will be P's share?Options125001300010,500None of these