Date Share Changes Shares Outstanding January 1 Beginning balance 210 000 April 1 Issued 27 000 shares July 1 6-for-1 share split took place September 1 Purchased 9 000 shares December 31 Issued 15 000 shares In 2015, Fluffy Corporation has a net Income of €865 980 anda tax rate of 10%. Its only convertible Instruments are 27 000 outstanding warrants (Issued prior to 2015) that can each be converted to one ordinary share at an exercise price of €12. The average falr value of Fluffy's share during 2015 Is €20. Fill in the table below to calculate the weighted average number of shares used for calculating Fluffy's Corporation ordinary EPS for 2015. CRoun

Date Share Changes Shares Outstanding January 1 Beginning balance 210 000 April 1 Issued 27 000 shares July 1 6-for-1 share split took place September 1 Purchased 9 000 shares December 31 Issued 15 000 shares In 2015, Fluffy Corporation has a net Income of €865 980 anda tax rate of 10%. Its only convertible Instruments are 27 000 outstanding warrants (Issued prior to 2015) that can each be converted to one ordinary share at an exercise price of €12. The average falr value of Fluffy's share during 2015 Is €20. Fill in the table below to calculate the weighted average number of shares used for calculating Fluffy's Corporation ordinary EPS for 2015. CRoun

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 85PSA: Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and...

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Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and outstand ing $5 par common shares. During 2019, Fusion entered into the following transactions: Declared a S0.30 per-share cash dividend on March 10. Paid the $0.30 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $18 each on May 2. Sold 1.500 unissued common shares for $23 per share on June 9. Declared a $0.45 per-share cash dividend on August 10. Paid the $0.45 per-share dividend on September 10. Declared and paid a 5% stock dividend on October 15 when the market price of the common stock was $25 per share. Declared a $0.50 per-share cash dividend on November 10. Paid the $0.50 per-share dividend on December 10. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) Determine the total dollar amount of dividends (cash and stock) for the year. CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.
1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…
15. Rock Company reported the following shareholders equity on December 31, 2022: Share capital, P50 par value 3,000,000 Share premium 600,000 Retained earnings 4,200,000 A 15% share dividend was declared and distributed on December 31, 2022 when entity’s share was selling at P65. What amount should be reported as share capital outstanding? Group of answer choices 3,450,000 3,585,000 3,615,000 4,185,000
33. The Investments and Dividends Income accounts of Babe Time Company are shown below: Trading Securities Date Description Ref. Debit Credit 06/22/14 5,000 ordinary shares, par value P100, Bebe Co. CD – 28 520,000 12/31/14 Adjustment to fair value 80,000 05/31/15 500 shares Bebe Co. received as bonus issue GJ – 10 12,000 07/10/15 Sold 1,000 shares @ P130 net of transaction cost CR – 21 130,000 12/04/15 Sold 1,000 shares @ P140 CR – 40 140,000 Dividend Income Date Description Ref. Debit Credit 05/31/15 Bonus issue (stock dividend) GJ – 10 12,000 08/01/15 Cash dividend on Bebe Co ordinary shares CR – 22 22,500 The following information was obtained during your examination: The December 31, 2014 statement of financial position of Babe time Company showed, among current assets, Trading…
5. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2010. The following are data available at Dec 31, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition) P1 Most recent transaction price per share P2 Transaction cost per share (current) P.50 How much is the value of the investment at Dec 31, 2020? 2,000 2,500 3,000 4,000
11. The following data of Slapshock Corporation as of December 31, 2019 showed the following: Preference share capital, P 100 par P 820,000; Ordinary share capital, P 30 par, 300,000 shares authorized, 100,000 shares issued and outstanding P3,000,000; Preference share premium P410,000; Ordinary share premium P3,300,000. What was the original issue price per share of preference share capital? 12. Using data in no. 11, what was the original issue price per share of ordinary share capital? 13. Using data in no. 11, how many shares of preference share capital were issued and outstanding as of December 31, 2019?
ABC Co. ‘s shareholders’ equity on December 31,2020 are as follows: 7%preference shares P100 par P3,000,000; Ordinary share capital, 50,000shares P1,500,000; Donated capital P500,000; Accumulated profitsP4,500,000. All preference dividends have been fully paid. If preferenceshares have total liquidation value of P3,200,000, how much is the bookvalue per ordinary share? A. P125.80B. P126.00C. P130D. P300E. answer not given
3. ABC Corp holds 1,000 shares of XYZ Corp.'s shares. The following are data available at Dec 1, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition) P1 Most recent transaction price per share P2 Transaction cost per share (current) P.50 If ABC classified these shares as held for trading, how much is the gain (loss) on sale if the securities were all sold on Dec 1? (1,500) 1,500 (2,000) 2,000
1. Habakuk Company reported the following shareholder’s equity on January 1, 2015: Preference share capital, 100,000 shares, P10 par P1 000 000 Ordinary share capital, 500,000 shares, P10 par 5 000 000 Share premium – Preference 50 000 Share premium – Ordinary 200 000 Retained Earnings 100 000 During the current year, the following transactions were completed. Retirement of 5,000 preference shares at P11 per share. Purchase of 5,000 ordinary shares of treasury at P12 per share. Share split, ordinary share 2 for 1. Reissue of 2,000 shares of treasury at P8 per share. Net income for the year, P300,000. • What is the total shareholder’s equity on December 31, 2015?
15. The equity of FGH Company at July 31, 2016 is presented below: Share capital—ordinary, par value P20, authorized 400,000 shares; issued and outstanding 160,000 shares P3,200,000 Share premium—ordinary 160,000 Retained earnings 650,000 On August 1, 2016, the board of directors of FGH declared a 15% share dividend on ordinary shares, to be distributed on September 15th. The market price of FGH’s ordinary shares was P35 on August 1, 2016, and P38 on September 15, 2016. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this share dividend?
#11 ABC Corporation’s capital structure includes 105,000 ordinary shares outstanding since 2020 and 10,000 convertible preference shares outstanding since 2020. During 2021, ABC paid dividends of P 3.00 per share on its preference shares. The preference shares are convertible into 15,000 ordinary shares. Profit for 2021 is P 850,000 and income tax rate is 30%. How much is the diluted earnings per share for 2021? (round off answer to nearest centavo) Group of answer choices 6.54 7.45 7.08 6.31
3. Mack Company reported the following outstanding share capital on December 31, 2020: - 30,000 preference shares, 5% cumulative, par value P10, fully participating as to dividends. No dividends were in arrears. - 200,000 ordinary shares, par value P1. On December 31, 2019, the entity declared dividends of P100,000. How much is the dividends per share for he Preference Shares? a. P2.00 b. P0.50 c. P1.50 d. P0.20