Company reported the following shareholders' equity on Dec 31, 2015: Preference share capital -12%, P50 par, 20,000 shares 1,000,000 Ordinary Share Capital, P25 par, 100,000 shares 2,500,000 Share Premium 200,000 Retained Earnings 400,000 Retained Earnings Appropriated 100,000 Revaluation Surplus 300,000 Dividends on Preference share have not been paid since 2013. The preference share has a liquidating value of P55 and call price of P58 . what is the book value per preference share?
Q: Jupiter corporation had the following shares outstanding at December 31, 2018: Ordinary shares, par…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
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: PLEASE PROVIDE COMPUTATION!
A: Equity Share - Share capital and equity finance are other names for equity capital. It is referred…
Q: the beginning of 2013, U Company had retained earnings of P250,000. During the year U reported net…
A: Amount of retained earnings available for dividend at end of 2013 = opening balance + Net…
Q: Andrea Company reported the following shareholder's equity at the beginning of 2017: Preference…
A: Answer 1) Calculation of Share Premium arising from retirement of Preference Shares Share Premium…
Q: December 31, 2017, Raja Corporations's balance sheet reported the following: Stockholders' Equity…
A: Solution Concept Cost method of accounting for treasury stock While using the Cost method of…
Q: shares capital, P100 par, 30,000 shares 3,000,000 Share premium 500,000 Retained earnings…
A: Dividend refers to the cash distributed by a company to its shareholders.
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: On December 31, 2014, Brave Corporation reported the following on its balance sheet: Cash 22,000…
A: Share premium is the excess amount paid or received over the par value of share.
Q: Data pertaining to Classic Corp.’s common stock are presented for the fiscalbyear ending May 31,…
A: Solution: Price earning ratio of a company represents how much time of earning per share have a…
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: At December 31, 2015 and 2016, Plank Corp. had outstanding 2,000 shares of $100 par value 8%…
A: The dividend is paid to shareholders from the retained earnings of the business. The preference…
Q: Nottebart Corporation has outstanding 10,000 shares of $100 par value, 6% preferred stock and 60,000…
A: Formulas:
Q: Ace Company stockholder’s equity at the end of 2015 is shown in the table below. Preference share…
A: Cost per share of Treasury Shares = Total value of Treasury shares / Number of shares purchased
Q: At 31 March 2012, Dalian Limited had in issue NS4m in equity share capital of 50 cent each and N$1m…
A: Basic EPS = Income available to shareholders/Weighted average number of shares Income available to…
Q: As of 2017, Buttle Corp. has $10 par, 2% preferred stock, 13,000 shares outstanding, and $1 par…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: 1. What is the amount debited to accumulated profits as a result of the declaration of the 10% stock…
A: Dividend is the amount which the company gives to its shareholders out from the profits earned by…
Q: The shareholders' equity of Orange Company shows the following balances on December 31, 2012:…
A: Ordinary shares are those that are issued and owned by shareholders'/people and provide the right to…
Q: Ace Company stockholder’s equity at the end of 2015 is shown in the table below. Preference share…
A: No. of ordinary shares issued = Ordinary share capital / stated value per share No. of ordinary…
Q: At December 31, 2017, Albrecht Corporation had outstanding 373,000 shares of common stock and 8,000…
A:
Q: Barbie Co. was organized on January 2, 2015, with 500,000 authorized shares of P10 par value common…
A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…
Q: In 2014, Rona Company issued 5,000 shares of P10 par value for P100 per share. In 2015, the entity…
A: When accounting for the retirement of stock, common stock and additional paid-in capital are removed…
Q: At December 31, 2016 and 2015, Gow Corp. had 100,000 shares of common stock and 10,000 shares of 5%,…
A: Preferred dividend = No. of shares x Par value per share xrate of dividend = 10,000 x $100 x 5% =…
Q: FRANCE, INC. began operations in January 2016, and reported the following results for each of its…
A: Answer: Book Value: It is the equity of the company and the book value per share is indicated the…
Q: National Supply's shareholders' equity included the following accounts at December 31, 2015: ($ in…
A: Compute the average paid in capital in excess of par:
Q: Brown Company had 200,000 shares of P20 par ordinary and 20,000 shares of P100 par, 6% cumulative,…
A: Formula: Diluted earnings per share = Net income / Total outstanding Ordinary shares
Q: The Royal Corporation reported profit for 2012 of P177,500. Royal began the year with 100,000 shares…
A: Basic earnings per share means how much net income is attributable to each equity share in the…
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: At December 31, 2017 and 2018, Funk and Noble corporation had outstanding 760 million shares of…
A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…
Q: At December 31, 2016, Paste Company had 30,000 shares of P100 par, 5% cumulative preference share…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: The market value of G's common stock was P20 per share at December 31, 2010, and P27 per share at…
A: Answer with explanation are as follows:
Q: Ace Company stockholder’s equity at the end of 2015 is shown in the table below. Preference share…
A: No. of ordinary shares issued = Ordinary share capital / stated value per share No. of ordinary…
Q: Shown below are account balances found in the ledger of Emerald Green Corporation at the end of…
A: Share refers to the smallest unit of the total capital of a company.
Q: YG Company has 5,000 shares of 6%, USD100 par value, noncumulative preferred stock and 20,000 shares…
A: It is pertinent to note that preference shares have hybrid characteristics of both debt and equity.…
Q: On 1 October 2013, Hoy had R2-5 million of equity shares of 50 cents each in issue. No new shares…
A: Diluted earnings per share=Profit after taxNumber of shares after dilution
Q: On January 1, 2016, the accounts of Mac Corporation showed the following: Common stock, par $1,…
A: Working: Number of shares issued and outstanding at beginning =Capital in excess of par value / per…
Q: In January 2014, ABC Corporation, a new corporation, issued 10,000 shares of common stock with a par…
A: some times companies repurchase its own shares to prevent the dilution of the ownership of the…
Q: On January 1, 2016, Kiper Corporation had 12,000 shares of common stock outstanding. Kiper…
A: Basic earnings per share is a ratio which helps to analyse that how much earnings a common…
Q: On January 1, 2017, an entity reported the following shareholders' equity Share capital, 100,000…
A: No. of shares issued under stock dividend = No. of shares outstanding x 10% = 50,000 shares x 10% =…
Q: On January 1, 2016, Fascom had the following account balances in its shareholders' equity accounts.…
A: Stockholder's equity refers to the amount of assets which is left in the organization after paying…
Q: In January 2014, ABC Corporation, a new corporation, issued 10,000 shares of common stock with a par…
A: Share Repurchase or Share Buyback means when company buy backs it's share from the investors. The…
Q: NUEVE COMPANY declared P3,000,000 cash dividends to its preference and ordinary shareholders out of…
A: Formula: Dividends to common share holders = Total dividends - preferred dividends
Q: Dolf Corporatiom’s equity at December 31, 2012, consisted of the following: Preference share, P50…
A: Ordinary capital = P800,000 10% Cumulative Preference capital = P500,000 Retained Earnings =…
Q: In 2014, Eklund, Inc., issued for $103 per share, 70,000 shares of $100 par value convertible…
A: Preference shares and common stock shares are two types of shares that are being issued by the…
Q: Compute for the book value of preference shares on December 31, 2018 and book value of ordinary…
A: FRANCE, INC. began operations in January 2016, and reported the following results for each of its…
Q: During 2016, Moore Corp. had the following two classes of stock issued and outstanding for the…
A: Answer: Option c.
Q: book value of each ordinary
A: Book value of each ordinary share = [Total Shareholders' Equity - (Preference share capital +…
Company reported the following shareholders' equity on Dec 31, 2015:
Ordinary Share Capital, P25 par, 100,000 shares 2,500,000
Share Premium 200,000
Retained Earnings Appropriated 100,000 Revaluation Surplus 300,000
Dividends on Preference share have not been paid since 2013. The preference share has a liquidating value of P55 and call price of P58 .
what is the book value per preference share?
Step by step
Solved in 2 steps with 1 images
- 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.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.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 0 par common stock at 0, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a held- to-maturitv long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 545, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method, q. Accrued interest for three months on the Dream Inc. bonds purchased in (1). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions Journalize the selected transactions. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016. Income statement data: Advertising expense 150,000 Cost of merchandise sold 3,700,000 Delivery expense 30,000 Depreciation expense -office buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Dividend revenue 4,500 Gain on sale of investment 4,980 Income from Pinkberry Co. investment 76,800 Income tax expense 140,500 Interest expense 21,000 Interest revenue 2,720 Miscellaneous administrative expense 7.500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,254,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available for sale investments (at cost) 260,130 Bonds payable. 5%. due 2024 500,000 Cash 246,000 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued. 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory [December 31, 2016). at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4.320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock. 80 par (30,000 shares authorized; 20,000 shares issued] 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 2016 9,319,725 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 Unrealized gain (loss) on available for sale investments (6,500) Valuation allowance for available for sale investments (6,500)
- The following selected transactions and events occurred during 2013: a. Issued 200 shares of preferred stock for 20,000. b. Sold 800 shares of treasury stock for 2,800. c. Declared and issued a 4% common stock dividend. The market value on the date of declaration was 5 per share. d. Generated a net loss for the year of 16,000. e. Declared and paid the full years dividend on all the preferred stock and a dividend of 15 per share on common stock outstanding at the end of the year. Enter beginning balances for 2013 on STOCKEQ2. Then erase all 2012 entries and enter the transactions for 2013. Save the results as STOCKEQ4. Print the results.Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a heldtomaturity long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method. q. Accrued interest for three months on the Dream Inc. bonds purchased in (l). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016.Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements.
- On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.Preferred Stock Dividends Seashell Corporation has 25,000 shares outstanding of 8%, S10 par value, cumulative preferred stock. In 2017 and 2018, no dividends were declared on preferred stock. In 2019, Seashell had a profitable year and decided to pay dividends to stockholders of both preferred and common stock. Required: If Seashell has $200,000 available for dividends in 2019, how much could it pay to the common stockholders Seashell Corporation has 25,000 shares outstanding of 8%, S10 par value, cumulative preferred stock. In 2017 and 2018, no dividends were declared on preferred stock. In 2019, Seashell had a profitable year and decided to pay dividends to stockholders of both preferred and common stock. Required: If Seashell has S200,000 available for dividends in 2019, how much could it pay to the common stockholders