DDD Corporation is authorized to issue 500,000 ordinary shares of P10 par value. During its first year of operations, the following transactions occurred:50,000 ordinary shares were sold for P18 per share.50,000 ordinary shares were issued in exchange for a patent worth P1,000,000.The total contributed capital at the end of the first year of operations of DDD Corporation was

At the beginning of 2023, BBB Corporation was organized with authorized capital of 100,000, P200 par value shares. January 15 – Issued 10,000 shares at P280 per share.May 1 – Issued 5,000 shares in exchange for land with a fair value of P1,200,000. On this date, fair value of the shares was P250 per share.November 23 – Issued 2,000 shares for legal services when the fair value was P260 per share.What amount should be debited to legal services / fees account as a consideration for the issuance of shares on November 23?

EEE Corporation provided the following at year-end:            Preference share capital, P100 par                      460,000            Share premium – preference                              161,000            Ordinary share capital, P10 par                          1,050,000            Share premium – ordinary                                  550,000            Subscribed ordinary share                                  10,000            Retained earnings                                              380,000            Subscription receivable – ordinary                      8,000            Treasury shares – common                                12,000Assume the same information except that the ordinary share has a P10 stated value, what is the amount of legal capital?

AAA Corporation is authorized to issue 5,000 shares of P200 par value ordinary share capital. The following transactions occurred in 2023: Issued 1,500 shares in exchange for a power plant with market value of P500,000. At that time, ordinary shares were selling at P350 per share.Issued 500 shares in exchange for an equipment. The equipment had no determinable value, but ordinary shares were selling at P320 per share at that time.Issued 400 shares for advisory services. The firm billed AAA Corporation for P150,000. At that time, ordinary shares were selling at P325.Issued 750 shares to attorneys in payment for their legal services. The value of the legal services is not determinable but ordinary shares were selling at P330 per share at that time.How much is the total consideration received by AAA Corporation during 2023?

The GRAPES Corporation was authorized to issue 80,000 ordinary shares with P100 Par value. During the period, 50,000 ordinary shares has been issued and 10,000 ordinary shares were subscribed. At this point, the corporation holds 4,000 ordinary shares in the treasury. The number of shares outstanding areGroup of answer choices50,00056,00060,00046,000

Delta Corporation acquires 10,000 shares of its own $0.01 par value common stock at $10 per share. It later resells the 10,000 shares of treasury stock for $12. The entry to record this transaction will involve a:Multiple Choicecredit to Treasury Stock for $120,000credit to Additional Paid-in Capital for $20,000debit to Cash for $100,000credit to Common Stock for $100