Bulldogs Inc., a corporation that can only legally issue ordinary shares with par value, recently completed a 2-for-1 stock split on a stock that recently pays P15 dividend per share. The total legal capital of Bulldogs Inc. is P31,000,000 and it has a total number of outstanding shares at 980,000. What is the new par value of each shares? A. 15.82 B. 15.00 C. 31.63 D. 7.50
Q: 5) During the month of April, Candice Ltd. provides the following information: direct materials purc...
A: Formula: Total manufacturing cost =Direct materials + Direct labor + manufacturing overhead
Q: At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant n...
A: Understated (overstated) expense in 2020 = Actual expense for the year - Expenses booked in this ye...
Q: Foss, Albertson, and Espinosa are partners who share profits and losses 50%, 30%, and 20%, respectiv...
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....
Q: E17-13. Please solve part d, and show all workings clearly. FYI: The securities-held to maturities...
A: Unrealized Holding Gain- An unrealized holding gain is enhancing in the value of an asset that a com...
Q: Under IAS 19 Employee Benefits, how is actuarial gain or loss handled? amount falling outside th...
A: IAS 19 deals with the employee benefits. It includes the pension, benefit plans and gratuity etc.
Q: Required information Exercise 7-5 (Algo) Notes payable—discount basis LO 2 Skip to question [The ...
A: The amount for loan proceeds is collected after making adjustments for interest charged on loan.
Q: Molander Corporation is a distributor of a sun umbrella used et resort hotels. Data concerning the n...
A: Margin of Safety Percentage = Margin of Safety / Sales Margin of Safety (in dollars) = Total Sales -...
Q: Preparing the Adjusting Entries at Year-End On Nov. 30, 2016, the end of fiscal year, the following ...
A: GIVEN Preparing the Adjusting Entries at Year-End On Nov. 30, 2019, the end of fiscal year, the fo...
Q: I need the answer as soon as possible
A: There are different methods for forecasting population. Some of the methods are 1. Arithmetic Incre...
Q: A man owes his partner Ba sum of Rs. 1,50,000 in a business deal is requested by the latter to pay t...
A: This can be solved using simple excel based calculation. we may calculate the profit and loss by usi...
Q: apartment building for sale. LL is to manage the joint arrangement hence, he will rec ponus of 10% o...
A: The answer is stated below:
Q: Some companies issue shares at a premiumand others at discount. What are the factors influencing the...
A: Company issues shares so that they can raise the funds by way of selling the ownership stake on the ...
Q: 1. The data below pertains to the earnings of Peter Castro for the week ended June 30,2020. Hours an...
A: Solution Gross earning is an individual's Total earnings before taxation or other deductions.
Q: (b) Assume the same facts as part (a), except that the warrants had a fair value of $23. Prepare the...
A: Answer - Working Note - Step 1 - Calculate the Total market value- Particulars Amount Marke...
Q: 8. Using an annual interest rate of 9%, how long will it take a deposit of $1,500 to grow to $3,000,...
A: Deposit amount (PV) = $1500 Future value (FV) = $3000 Interest rate (r) = 9%
Q: What type of capital is accounts receivable? Group of answer choices Human. Intangible Physical. Fin...
A: Accounts receivables are the current assets of an entity. These can be converted into cash within a ...
Q: Barbara's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information r...
A: Moving average cost can be calculated by cost of goods available for sale divided by units of invent...
Q: After taking business classes, Jake, an avid dog-lover, decided to start selling unique pet supplies...
A: The expenses amount which remains stagnant with changing level of production are called fixed expens...
Q: Bulldogs Inc. deals with various clients throughout the city and is attempting to collect its accoun...
A: Total receipts=Daily receipts×Average amount=300×P5,000=P1,500,000
Q: Dow Deep Mining Co acquired mineral rights for S56,000,000. The mineral deposit is estimated at 70,0...
A: Formula: Depletion rate per ton = Mineral rights value / Estimated Tons
Q: Mr. and Mrs. Chaulk have three dependent children, ages 3, 6, and 9. Assume the taxable year is 2021...
A: Dependent & Child Care Credit Requires care for a dependent child (under 13 years) or disabled...
Q: 1. The right-of-use asset shall be initially recognized at cost, which shall be comprise of the foll...
A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: Current Attempt in Progress Avanhoe Company began operations on. 1, 2022. The following information ...
A: Calculation of net income = Service revenue - advertising expense - rent expense - supplies expense ...
Q: Blue Spruce Limited reported profit of $436,010 for its November 30, 2021, year end. Cash dividends ...
A: Profit available to common shareholders = Net income - Preferred dividends = $436,010 - $69,500 = $3...
Q: The CEO of Barney the Dino Limited wishes to prepare a cash flow budget to estimate the company's ca...
A: Cash flow budget is the budget which shows the company regarding the flow of actual cash into the co...
Q: John Travis owns a depreciable property with a FMV of $295,000. Its capital cost is $350,000 , the U...
A: Depreciable property means the capital tangible fixed asset which is accounted in books of accounts ...
Q: Direct Materials Purchases Budget Tobin's Frozen Pizza Inc. has determined from its production budge...
A: Direct material purchase budget is a statement which is prepared in order to estimated the number of...
Q: Exclusive Souvenirs Hut does customize, hand-crafted memorabilia for hotels, in which each batch of ...
A: Predetermined overhead rate=Total estimated factory overheadTotal estimated direct labour cost×100
Q: all employee contributions with employer contributions on a two-to-one basis. That is if an employee...
A: Given as, Monthly expense, after 25 yrs – 9000 Yearly withdrawal after 26 yrs – 35000 Effective retu...
Q: ABC Corporation declared 15% bonus issue to its ordinary shareholders on December 31,2021. As of thi...
A: No. of shares outstanding = ordinary share capital account / Par value per share No. of shares issue...
Q: S1] When the entity issues a long-term debt instrument, it exposes itself to solvency risk. [S2] Whe...
A: The correct answer is given in the following steps for your reference.
Q: The sales and cost data for two companies in the transportation industry are as follows: X Com...
A: Formula: Break even sales value =Fixed cost / Contribution margin ratio
Q: FIU Inc granted 25,000 stock options to its top management team on January 1, 2022. The options vest...
A: An employee stock option that grants specified employees of a company the right to buy a certain amo...
Q: Required information [The following information applies to the questions displayed below.] Stephanie...
A: Introduction: According to IRS, babysitters should report their income during filling their taxes if...
Q: c0 Prepare a statement of cash flows using the indirect method LO4, 5, 6 he balance sheets for the I...
A: The cash flow statement is prepared to record the cash flow from various activities during the perio...
Q: Question 10 Your federal income tax rate is 29%. Your province income tax rate is 17.5%. The provinc...
A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first...
Q: Please explain how interest expense changes on the adjusted trial balance and show work out of the a...
A: Adjusted Trial Balance Adjusted Trial balance which has to incurred to make the adjustment entries f...
Q: Anthony's basis in the WAM Partnership interest was $200,000 Just before he received a proportionate...
A: The profit or loss of partner of firm on liquidation will be difference between the basis of the par...
Q: sheet (see below). Given the following post-closing trial balance, prepare the classified balance sh...
A: Solution:- Preparation of balance sheet as follows under:- Balance sheet shows financial position o...
Q: Suppose you own a 3-year, 7% annual coupon bond with a maturity value of $1,000 with a yield to matu...
A: Bonds are long-term investments available for the investor. They provide a fixed coupon rate interes...
Q: The following is a Trial Balance for Ocean Fresh PLC as at 31 December 2018: ...
A: 1. Financial Statements - Financial Statement are the statements that included income statement, Cha...
Q: Task 1 The following trial balance was extracted from the books of Zen Ltd. for the year ended 31/12...
A: An income statement is a financial report that indicates the revenue and expenses of a business. It ...
Q: On February 28, 2022, P Corp. purchased 80% of S Co's P10 par ordinary shares for P986,000. On this ...
A: Given information, Net income =P354,000 Dividends=P112,000 Inventory overvalued =P15,000 Increase in...
Q: pare sary urnals for 1. Cash paid to Sara BD 600 2. Sold Furniture BD 15000 3 Salary Paid B D 6000 S...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: Compute the total cost, expected profit, and selling price. Write your solution and answer on the sp...
A: The solution can be found in the following sheet:
Q: 10-13 Jesper, Inc., has a number of divisions including a Furniture Division and a Motel Division. T...
A: Transfer price- The transfer price is the price used in a transaction between individuals inside the...
Q: 3. Given: Your boss has asked you to investigate purchasing new machines for a processing line. The ...
A: Given as, Demand= 225, 000 units/year, i= 8.0 %.
Q: During the next four months, a furniture manufacturer will be entering its holiday season. Managemen...
A: The annual percentage rate seems to be the cost of credit, expressed as a percentage, over a year. T...
Q: Blue Spruce Limited reported profit of $436,010 for its November 30, 2021, year end. Cash dividends ...
A: Profit available to common share holders= Net profit- Preference dividend = 436010-69500 = 366510
Q: Hyrule Motors, a motorcycle repairs and maintenan January 1. The owner, Link, invested P1,000,000 ca...
A: In this question we have to calculate cash flow it helps in determining the inflow and outflow of ca...
Step by step
Solved in 2 steps
- Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys common stock and an increase in authorized common shares from 100,000 shares (par value 20 per share) to 200,000 shares (par value 10 per share). Baltimores shareholders equity items immediately before issuance of the stock split shares were as follows: What should be the balances in Baltimores Additional Paid-in Capital and Retained Earnings accounts immediately after the stock split is effected?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.According to a company press release, on January 5, 2012, Hansen Natural Corporation changed its name to Monster Beverage Corporation. According to Yahoo Finance, on that day the value of the company stock (symbol: MNST) was $15.64 per share. On January 5, 2018, the stock closed at $63.49 per share. This represents an increase of nearly 306%. A. Discuss the factors that might influence the increase in share price. B. Consider yourself as a potential shareholder. What factors would you consider when deciding whether or not to purchase shares in Monster Beverage Corporation today?
- Comprehensive Young Corporation has been operating successfully for several years. It is authorized to issue 24,000 shares of no-par common stock and 6,000 shares of 8%, 100 par preferred stock. The Contributed Capital section of its January 1, 2019, balance sheet is as follows: Part a. A shareholder has raised the following questions: 1. What is the legal capital of the corporation? 2. At what average price per share has the preferred stock been issued? 3. How many shares of common stock have been issued (the common stock has been issued at an average price of 23 per share)? Part b. The company engaged in the following transactions in 2019: Required: 1. Answer the questions in Part a. 2. Prepare journal entries to record the transactions in Part b. 3. Prepare the Contributed Capital section of Youngs December 31, 2016, balance sheet.Assume that Lily Corporation has outstanding 1,500 shares of 150 par callable preferred stock that were issued at 175 per share, and that no dividends are in arrears. If the call price is 185 per share, what journal entry will Lily make to record the recall of these shares?Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split?
- Tent Tarp Corporation is a manufacturer of outdoor camping equipment. The company was incorporated ten years ago. It is authorized to issue 50,000 shares of $10 par value 5% preferred stock. It is also authorized to issue 500,000 shares of $1 par value common stock. It has issued 5,000 common shares and 2,000 of the preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Tent Tarp has the following transactions: Journalize these transactions. For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the splitAlert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split? What is the total amount of equity before and after the split?
- Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling for 37 per share on the open market, and no significant impact on the market price is expected by the issuance of the additional shares. Prepare the journal entry to record this transaction.Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8% preferred stock outstanding on January 1, 2011. Each share of preferred stock is convertible into four shares of common stock. The stock has not been converted. During the year, Ponce Towers issued additional shares of common stock as follows: For 2011, Ponce Towers, Inc., had income from continuing operations of 545,000 and a 72,000 loss from discontinued operations (net of tax). Open the file EPS from the website for this book at cengagebrain.com. Enter all input items (AF) in the appropriate cells in the Data Section. Enter all formulas in the appropriate cells in the Answer Section. Enter your name in cell A1. Save the completed file as EPS2. Print the worksheet when done. Also print your formulas. Check figure: Basic earnings per share from continuing operations (cell D29), 5.94.