2016 Total current assets P600,000 P560,000 Total property, plant and equipment 960,000 740,000 Total current liabilities 150,000 80,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, P100 par 100,000 100,000 Common stock, P10 par 600,000 600,000 Paid-in capital in excess of par-common stock 60,000 60,000 Retained earnings 300,000 210,000 The net income is P150,000 and interest expense is P30,000 for 2017. And the current market price of the share is P22.20 in 2017, and P21.25 in 2016. what is the P/E Ratio of Burrows security in 2017? Activate Wind
Q: Manuel Santander Inc. began operations in January 2012 and reported the following results for each…
A: Manuel Santander Inc.'s Began operations in January 2012 and reported the following reported the…
Q: Cash $175,000 $50,000 $125,000 Common stock Paid-up capital exceeds the stipulated Value Cash…
A: Equity share section of the balance sheet indicates the amount of shares and paid in excess of par…
Q: PLEASE PROVIDE COMPUTATION!
A: Equity Share - Share capital and equity finance are other names for equity capital. It is referred…
Q: Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) 5,000,000…
A: Retained earnings is the amount of earnings which is accumulated and collected over the period of…
Q: Presented below is a condensed balance sheet for Tiger Company as of December 31, 2020: Book Value…
A: An acquisition refers to that one company purchases another company's shares to gain control of that…
Q: ABC Corporation reported a profit of P7,500,000 as of December 31, 2022. The company has the…
A: According to the given question, we need to compute the earnings per share. Earning per share:…
Q: #21 The ABC Company began operations in January 2018 and reported the following results for each of…
A: Issue of shares is one of the important source of finance being used in business. These can be…
Q: Company reported the following shareholders' equity on Dec 31, 2015: Preference share capital -12%,…
A:
Q: The following balances were obtained from the books of Tim Curry plc as at December 31,…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: FRANCE, INC. began operations in January 2016, and reported the following results for each of its…
A: The book value per preferred share is calculated by dividing the call price or par valueplus the…
Q: The data below are from the December 31, 2017, balance sheet of CAREBEAR CO Common stock, P10 par…
A: No. of common stock = Common stock value / Par value per share = P500,000 / P10 = 50,000 shares
Q: Color Unite Company reported the following on December 31, 2020: 8% cumulative preference share…
A: The earning per share is an important fundamental ratio of the company. It describes the ratio…
Q: Net unrealized loss on available for sale securities (investment at FVTOCI) 20,000 Retained…
A: Total shareholders' equity A company's shareholders' equity can be calculated by subtracting total…
Q: Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) 5,000,000…
A: Solution Given 2020 2021 Share capital (P100 par value) 5,000,000 5,850,000…
Q: ABC Company provided the following information for the year ended December 31, 2020: Share Capital…
A: Statement of changes in shareholders' equity represents the transactions during the year that has…
Q: The following balances were obtained from the books of Tim Curry plc as at December 31,…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: PROBLEM NO. 1 Watusi Inc. began operations in January 2021 and reported the following results for…
A: Share: -The capital of the company is divided into small units. these small units are known as…
Q: Pineapple Co. reported total assets of P2,100,000 and total liabilities of P1,360,000 in its…
A: Stockholder's equity: It implies to the remaining value of net assets that are owned by the…
Q: Shilling Company reports the following information for its fiscal year-end of March 31, 2019: Common…
A: Paid-in capital in excess of par – Common = Total stockholders’ equity - Common stock - Retained…
Q: The balance sheets at the end of each of the first two years of operations indicate the following:…
A: Earnings per share: Earnings per share represent the amount of income earned per share of…
Q: Kellman Company Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000…
A: Introduction:- Earning per share means net earnings available to common shareholders by the…
Q: Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) Share premium…
A: Dividends: A company pays dividends in cash as well as in share dividends out of net income earned…
Q: Red Hat Company began operations in January 2018 and reported the following results of operations…
A: Book value per common stock = (Total stockholder's equity-(liquidation value of preferred stock+…
Q: Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share…
A: The retained earnings during the year increase by the amount of profit after deducting the dividends…
Q: 1. James Company showed the following balances in its balance sheet as at year-end: Current Assets…
A: Replacement value is the amount at which assets of the company would be replaced. Given that,…
Q: 292,000 Total liabilities issuing 5,000 shares with fair value of P60 per share and par value of P40…
A: Retained Earnings are part of the organization’s profit which is saved by the company in order o…
Q: Persistence Inc. provided the following information at year end: Share capital 15,000,0000 Share…
A: The total shareholders' equity refers to the total amount in the statement of the financial position…
Q: Lewandowski Company reports the following information at the current fiscal year end of December 31:…
A: Total paid in capital = Common stock capital + Paid in capital in excess of par value
Q: Q11: Presented below is the information necessary to compute the net assets (stockholders' equity…
A: It is the amount of assets that remain in the hands of shareholders after all debts have been paid…
Q: ABC Company provided the following information on December 31, 2020 Share capital…
A: Contributed capital is also known as paid in capital, it is the total cash and assets the investors…
Q: Beverly Company provides the following information for the year 2020: January 1 December 31 Total…
A: Beginning retained earnings = total assets - total liabilities - share capital - share premium =…
Q: Kellman Company Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000…
A: Dividend on preferred stock = Par value of preferred shares x rate of dividend = $100000 x 9% =…
Q: FRANCE, INC. began operations in January 2016, and reported the following results for each of its…
A: Book Value Per shares: It is the minimum value of equity per-share basis and is calculated by…
Q: Bramble Inc. began operations in January 2018 and reported the following results for each of its 3…
A: Requirement 1:
Q: Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant,…
A: Solution: Price earnings ratio is the ratio between market price per common share and earnings per…
Q: Treasury shares, at cost, 600,000 in 2021 Levi Company provided the following information from a…
A: Increase in Share Capital in 2021 (7500000 - 4500000) 3000000 Number of additional share issued…
Q: a company has the following items: share capital-ordinaty: $920,000 treasury shares : $85,000…
A: Total equity = Share capital-ordinaty + retained earning - treasury shares
Q: The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:…
A: Working: With formula:
Q: Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each…
A: a. Compute the book value of the common stock at December 31, 2020.
Q: Current assets $745,000 $820,000 Property, plant, and equipment 1,510,000 1,400,000 Current…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: The following balances/data was extracted from the accounting records of Benta Ltd on 28 February…
A: 1. Market to book ratio = Market capitalisation/ Net book value = 243,000,000/1,750,000 = 138.85…
Q: The accounts below appear in the December 31, 2020 trial balance of Moon Company: Authorized share…
A:
Q: The capital accounts of Britannia Company as of yearend 2014 are as follows: Ordinary Share Capital…
A: Company means a form of business where the share holder invest money in business in form of shares…
Q: Kellman Company Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000…
A: Particulars Year 2 Year 1 Total current assets $600000 $560000 Total investments 60000 40000…
Q: As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable 20,000…
A: Shareholders' equity is the total amount of ownership investment in a company.Shareholders' equity…
Q: The capital accounts of ABC Company as of yearend 2021 are as follows: Ordinary Share Capital (P10…
A: Total market value of Ordinary Share Capital = Ordinary Share Capital + Share Premium = 500,000 +…
Q: Myers Company provides you with the following condensed balance sheet information. Assets 0000…
A:
Q: Requirements: 1. How much is the total assets? 2. How much is the total liabilities? 3. How much is…
A: In order to find the required answers, we need to prepare the income statement, statement of…
Q: Clarence Corporation Statements of Financial Position December 31 2014 2013 2012 Plant and equipment…
A: Horizontal analysis refers to the evaluation of the financial statement items of one period in…
Step by step
Solved in 5 steps
- 1. The balance sheets at the end of each of the first two years of operations indicate the following:20172016Total current assets$600,000$560,000Total investments60,00040,000Total property, plant, and equipment900,000700,000Total current liabilities125,00080,000Total long-term liabilities350,000250,000Preferred 9% stock, $100 par100,000100,000Common stock, $10 par600,000600,000Paid-in capital in excess of par--common stock60,00060,000Retained earnings325,000210,000Based on the above information, if net income is $130,000 and interest expense is $40,000 for 2017, and the market price is $40, what is the price-earnings ratio on common stock (round to one decimal place)?a. 14.9b. 19.8c. 17.3d. 18.4ln 1/1/2020 the balance of retained earnings is 60 000 lD ., the net income for the year 350 000 lD. , dividends declared on 310 000 lD ., additional depreciation in building 40 000 lD., the retained earnings in 31/12/2020 is :- 410 000 lD . 60 000 lD . 40 000 lD . 100 000 lD . no one.Q3. The following is the summarized balance sheet of Michael Ltd. LIABILITIES 2018 2019 Equity Share Capital Debentures Securities Premium General Reserve Profit & Loss A/C Sundry Creditors Proposed Dividend Provision for Depreciation Plant & Machinery Furniture 200000 50000 - 30000 48000 130000 20000 140000 6000 240000 - 10000 50000 68000 150000 24000 150000 4000 624000 696000 ASSETS Land & Building Plant & Machinery (Cost) Furniture (Cost) Inventories Sundry Debtors Cash 105000 290000 9000 130000 75000 15000 150000 320000 10000 105000 85000 26000 624000 696000 ADDITIONAL INFORMATION: Furniture which cost Rs. 5,000, written down value Rs. 1,000 was sold during the year 2019 for Rs. 2,000.2. Plant and Machinery which cost Rs. 20,000 and in respect of which Rs. 13,000 had been written off as depreciation was sold during the year for Rs. 3,000.3. The dividend of 2018 was paid during 2019.You…
- #17Clarissa company’s accounting records provided the following information:1/1/20B 12/31/20BCurrent assets 120,000 ?Property, plant and equipment 800,000 850,000Current liabilities ? 65,000Noncurrent liabilities 290,000 ?All assets and liabilities of the entity are reported in the schedule above. Working capital of P46,000 remained unchanged from20A to 20B. Net income in 20B was P32,000. No dividends were declared during 20B and there were no other changes inowners’ equity. What amount should be reported as noncurrent liabilities on December 31, 20B? ANSWER: 308,000 PLS provide solution and explanation for the answer above Philippines Accounting standardGLITTER INC.Condensed Balance SheetsDecember 31 Increase or (Decrease) 2020 2019 Amount Percentage Assets Current assets $124,600 $100,000 $enter a dollar amount enter your answer in percentages rounded to 1 decimal place % Plant assets (net) 394,800 329,000 enter a dollar amount enter your answer in percentages rounded to 1 decimal place % Total assets $519,400 $429,000 $enter a subtotal of the two previous amounts enter your answer in percentages rounded to 1 decimal place % Liabilities Current liabilities $85,994 $73,000 $enter a dollar amount enter your answer in percentages rounded to 1 decimal place % Long-term liabilities 128,828 86,000 enter a dollar amount enter your answer in percentages rounded to 1 decimal place % Total liabilities 214,822 159,000 enter a subtotal…Q#1. Hawthorn corporation adjusted trial balance contained the following accounts at December 31,2017: retained earnings 120000. Common stock 750000. Bonds payable 100000. Paid in capital in excess of par. Common stock 200000. Goodwill 55000. Accumulated other comprehensive loss 150000, and non-controlling interest 63000. Requirement: Prepare the shareholders equity section of the Balance Sheet.
- E23.10B (L0 1,4) (Classification of Transactions) Following are selected balance sheet accounts of BioLazer Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Increase Selected balance sheet accounts 2020 2019 (Decrease)AssetsAccounts receivable $154,000 $120,000 $34,000Property, plant, and equipment 631,000 581,000 50,000Accumulated…Q R and S carry on business sharing the profits in the ratio of 23: 4 respectively. Capitals as on 1st Jan 2020 are Q is OMR 20.000. Ris OMR 30,000 and Sis OMR 40,000. On 30th Sept 2020 S died due to accident and his executors claim the profit. Calculate Nine months company profit when average profits of the preceding 3 years were Profit 2017 OMR 50,000, Loss 2018 OMR 40.000, and 2019 Profit OMR 30,000? a. 13,333.33 b. None of the options are correct c. 40,000 d. 9999.99The comparative balance sheet of Gus Company at December 31, 2024 and 2023 appears below:Assets:12/31/202412/31/2023Cash$ 53,000 $ 120,000 Accounts receivable (net)37,000 48,000 Inventories108,500 100,000 Equipment573,200 450,000 Accumulated depreciation-equipment (142,000) (176,000) $629,700 $542,000 Liabilities & Stockholders Equity: Accounts payable$ 62,500 $ 43,800 Bonds payable, due June 20240 100,000 Common stock, $10 par335,000 285,000 Paid-in capital in excess of par - Common stock74,000 55,000 Retained earnings 158,200 58,200 $629,700 $542,000 The income statement for the year ended December 31, 2024 appears below:Sales $625,700 Cost of merchandise sold 340,000 Gross profit 285,700 Operating expenses (includes $26,000 depreciation expense) 94,000 Operating Income 191,700 Interest expense 6,000Income before income tax 185,700 Income tax 60,700 Net income $125,000 Also in 2024, fully depreciated equipment costing $60,000 was scrapped at no salvage…
- Advanced Accounting: Chap 1 HomeworkPip’s Paw Patrol had the following account Balances on Dec 31, 2021:BOOK Value FMVCurrent Assets $225,000 $250,000Land $320,000 $350,000Building $450,000 $650,000Accum Dep ($50,000)Equipment $195,000 $50,000Accum Dep ($100,000)Current Liabilities ($75,000) ($75,000)Bonds Payable ($200,000) ($300,000)Common Stock ($65,000)Paid in Capital ($700,000)Pip’s industry anticipates an 8% return on investments of P/E/P before accumulated depreciation andPip generated a $120,000 profit in 2021. Pip would like to be paid for 4 years of excess earnings.REQUIRED: a Record the purchase of the Pip Paw Patrol on the books of the BUYER, assume they issued100,000 shares of $2 par value common stock and paid $40,000 in legal and accounting fees and$50,000 in stock issuance costs to their broker.bRecord the sale of the company on the books of the sellCONCORD INC.Comparative Balance SheetsDecember 31 Assets 2022 2021 Cash $80,500 $48,700 Accounts receivable 87,900 38,600 Inventory 111,900 102,100 Prepaid expenses 29,400 27,900 Long-term investments 139,800 113,700 Plant assets 284,200 241,900 Accumulated depreciation (47,700) (49,100) Total $686,000 $523,800 Liabilities and Stockholders’ Equity Accounts payable $106,000 $63,700 Accrued expenses payable 16,500 21,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 227,400 114,300 Total $686,000 $523,800 CONCORD INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $382,500 Less: Cost of goods sold $135,600 Operating expenses, excluding…PROBLEM 8:Tomas Co. has the following balance sheet as of December 31, 2021.Current assets 180,000.00Fixed assets 120,000.00Total assets 300,000.00Accounts payable 40,000.00Accrued liabilities 20,000.00Notes payable 50,000.00Other Long-term debt 75,000.00Total Equity 115,000.00Total liabilities and equity 300,000.00 In 2021, Tomas Co. reported sales of P1,500,0000, net income of P30,000, and dividends of P18,000. The company expected its sales to increase by 20% by next year and its retention ratio will remain at 40%. Assume that Tomas Co. is operating at full capacity and it uses the AFN approach in determining the amount of external financing needed.How much is the sales for 2022? Using Problem 8, how much is the increase in retained earnings for the purpose of computing the AFN? Using Problem 8, how much external funds needed for the year 2022?