If Concord Company issues 5100 shares of $5 par value common stock for $182000, Common Stock will be credited for $182000. O Paid-In Capital in Excess of Par will be credited for $156500. Paid-In Capital in Excess of Par will be credited for $25500. O Cash will be debited for $156500.
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- Please answer asap! UPVOTE will be given! No long explanation needed. ERGO Corp. maintains the following equity balances throughout the years 2020 and 2021: 10% Preference Share Capital (20,000 shares issued and outstanding): ₱4,000,000 Ordinary Share Capital (60,000 shares issued and outstanding): ₱6,000,000 Preference shares are non-cumulative but fully participating. The company did not declare cash dividends during 2020. In 2021, the company declared ₱1,232,000 cash dividends. How much is the dividend per share of ordinary shares in 2021? Do not round-off intermediate computations (step calculations) but round-off final answer to nearest centavos (2 decimal places) if the final answer is not a whole number.Please don't provide answer in image format thank you. On December 31st, 2022 Czervik Construction had 60,000 shares of $50 par value common stock outstanding. On January 1st, 2020, Czervik issued 30,000 shares of $100 par value, 4% cumulative preferred stock. Czervik did not declare dividends in 2020. Czervik declared $220,000 of total dividends in 2021. Czervik declared $220,000 of total dividends in 2022. What was the number of dividends received by common shareholders in 2022a corporation purchases 17000 shares of its own $20 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders' equity? A.) Increase by $425000 B.) Decrease by $425000 C.) Decrease by $85000 D.) Decrease by $340000 Please explain other options why these are incorrect dont use ai boats thank you
- CCC Company reported the following shareholders’ equity on December 31, 2020: Preference share capital, 12% P50 par 2,000,000 Ordinary share capital, P100 par 4,000,000 Retained earnings (deficit) (900,000) No dividends have been paid on the preference share since 2018. Questions: 1. Assuming that the preference share has preference as to dividends, compute for the book value per ordinary share. 2. Assuming that the preference share has preference as to dividends, compute for the book value per preference share.NEED ASAP. Solve correctly and show your computations. The H2 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary share capital, P20 par value, 20,000 shares outstanding Preference share capital, 5% P100 par value, cumulative and partially participating 4%, 2,000 shares outstanding No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P180,000 was declared. How much dividends will be received by the preference shares holders?usiness AccountingQ&A LibraryWeisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares and 50,000 ordinary shares of $10 par value outstanding at December 31, 2020. Instructions Answer the questions in each of the following independent situations. a. If the preference shares are cumulative and dividends were last paid on the preference shares on December 31, 2017, what are the dividends in arrears that should be reported on the December 31, 2020, statement of financial position? How should these dividends be reported? b. If the preference shares are convertible into seven shares of $10 par value ordinary shares and 3,000 shares are converted, what entry is required for the conversion, assuming the preference shares were issued at par value? c. If the preference shares were issued at $107 per share, how should the preference shares be reported in the equity section? Weisberg Corporation has 10,000 shares of $100 par value, 6%, preference shares…
- Answers already given. Only need solutions for the answers. Provide complete solution 6. The following shareholders’ equity accounts are included in the statement of financial position of KiwiCo. on December 31, 2020.• Preference share capital, 8%, P100 par (200,000 shares authorized, 60,000 shares issued andoutstanding)- P6,000,000• Ordinary share capital, P5 par (2,000,000 shares authorized, 600,000 shares issued and outstanding)-P3,000,000• Share premium- P3,750,000• Retained earnings- P3,500,000In 2021, Kiwi took part in the following transactions concerning equity.1. Paid the annual 2020 P8 per share dividend on preference shares and a P2 per share dividendon ordinary shares. These dividends had been declared on December 31, 2020.2. Purchased 81,000 shares of its own outstanding ordinary shares for P40 per share.3. Reissued 21,000 treasury shares for land valued at P900,000.4. Issued 15,000 preference shares at P105 per share.5. Declared a 10% stock dividend on the outstanding…Provide solutions in good accounting form. Thank you! On October 17, 2021, LILAC Corporation exchanged 20,000 shares of its ₱200 par value stock for land. A few months ago, the land was appraised by an independent appraiser at ₱5,000,000. The land had an initial cost of ₱4,500,000. LILAC is currently trading at the stock exchange at ₱300. How much should be credited to Share Premium upon the issuance of the shares? a. ₱ 500,000 b. ₱ 2,000,000 c. ₱ - 0 - d. ₱ 1,000,000Why do you deduct or subtract 1 to flotation cost? Example: Given; Annual dividend (D) = $4.75 Flotation cost (F) = 0.05 or 5% Number of shares issued (N) = 10,000 Stock price (P0) = $50 Formula; Total value able to receive = N * P0 * (1 - F) Total value able to receive = 10,000 * $50 * (1 - 0.05) Total value able to receive = $500,000 * 0.95 Total value able to receive = $475,000
- Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) 5,000,000 5,850,000 Share premium 1,000,000 1,600,000 Retained Earnings 3,400,000 4,500,000 During the current year, the entity declared and paid cash dividends or P1,000,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during the year. What is the net income for the current year? Present solutions in good accounting form. No parenthetical solutions. Thanks and God bless!Print by: Tanvi Varma374275:374275: Intermediate Accounting Theory and Practice MGMT X 120B (Summer 2020) / Ch. 15 HW *Exercise 15-18 Nash Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Nash took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Nash uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4.…PLEASE ANSWER WITH COMPLETE SOLUTION The net income for the year-end 2020 – P450,000 The preferred dividends paid in 2020 – P30,000 At the beginning of the year 2020, the common shares outstanding were 50,000 shares. In the middle of the year, Hershey’s Corporation issued another 40,000 common shares. Find out the earnings per share (EPS)
