C9. Adams and Apple Corporation had issued 70% of its total authorized shares of 450,000 at P25 par value. Before closing the month of February 2022, the Board of Directors decided to repurchased 20% of its outstanding shares to protect the majority shareholders. On March 15, The Board decided to declare a P5.00 per share cash dividend. The market price per share during the date of declaration was P30. At the date of payment, May 31, 2022, the stock is selling at P35 per share and on April 15, the date of record, the price of the share was P32.00 per share. How much is the cash dividends paid on May 31? a. P1,260,000 b. Not given c. 1,800,000 Od. P990,000 o P1575.000

C9. Adams and Apple Corporation had issued 70% of its total authorized shares of 450,000 at P25 par value. Before closing the month of February 2022, the Board of Directors decided to repurchased 20% of its outstanding shares to protect the majority shareholders. On March 15, The Board decided to declare a P5.00 per share cash dividend. The market price per share during the date of declaration was P30. At the date of payment, May 31, 2022, the stock is selling at P35 per share and on April 15, the date of record, the price of the share was P32.00 per share. How much is the cash dividends paid on May 31? a. P1,260,000 b. Not given c. 1,800,000 Od. P990,000 o P1575.000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 5MC

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Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
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.
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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). As vice president of finance for the firm, you have been asked to calculate earnings per share for 2011. The worksheet EPS has been provided to assist you.
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