In 2019, Jed Incorporated issued 75,000 shares of P10 par value for P100 per share. In 2020, the entity reacquired 3,000 shares at P150 per share and immediately cancelled these 3,000 shares. In relation with the retirement of shares, what amount should be debited to share premium and retained earnings respectively? A. P30,000 and P420,000 B. P150,000 and P270,000 C. P270,000 and P150,000 D. P420,000 and 0

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A: Depreciation expense is the portion of cost of the fixed assets to be written off periodically in…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: The dividend is declared and paid to the shareholders from the retained earnings of the business.

Q: how much should ABC Company report as basic EPS?

A: Answer First let us note down the information given in the question Number of shares on 1/1/2020 =…

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A: Preference shareholders receive dividends first on preference and then the remaining dividend will…

Q: In 2018, Broyles, Inc. reacquired 3,000 shares of its common stock at $55 per share. In 2019,…

A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open…

Q: During 2019, ABC Company issued 50,000, P100 par value convertible preference shares for P120 per…

A: Step 1 ABC Company issued 50,000, P100 par value convertible preferenceshares for P120 per share…

Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…

A: Given that, Dividend declared for the year 2019 = P2000000 Dividend declared for the year 2020 =…

Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: What is the balance of the share premium account immediately after the retirement of the shares?

A: Given information is: The equity accounts of UBAS Co. on December 31, 2019 were as follows:…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Accumulated depreciation related to a fixed asset means the total amount of depreciation charged on…

Q: At the end of 2018, ABC Company has 18,000 shares, P 20 par ordinary shares that were all issued at…

A: The stockholders' equity refers to the amount that is attributable to the shareholders of the…

Q: 2021, the board of directors of ABC Co. declares a 10% share dividend. The market price of ABC’s…

A: Explanation of Concept Dividend is the part of earning which is been distributed to the shareholder…

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A: The earnings per share indicates the earnings of the company allocated to each ordinary outstanding…

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A: Formula: Dividends to ordinary shareholders = Total dividends - Preferred dividends

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A: The treasury share are the buy back shares of the company.

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A: The retained earnings of the business comprises of accumulated profits of previous year profits and…

Q: PHN Foods granted 18 million of its no-par common shares to executives, subject to forfeiture if…

A: 1.

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A: Share premium is the amount received on issue of ordinary shares in excess of its par value.…

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A: The stock split refers to cancel the old shares issued and issuing new shares against old shares.

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A:

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Q: NEED ASAP. Solve correctly and show your computations. In 2020, ABC Corporation issued 50,000…

A: Treasury stock is the stock that the company buys from its existing shareholders.

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A: To find the following as, 1. Dividend income, unrealized gain or loss and carry value. 2. Investment…

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A: A cash flow statement is a  statement that reports the net cash inflows or outflows into or from a…

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Q: GMA Co. had 900,000 ordinary shares issued and outstanding at December 31, 2019. On July 1, 2020 an…

A: Diluted Weighted Average Shares is the number of shares used to measure Diluted EPS. This is used as…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

A: Solution:Total cost of investment = Purchase cost + Brokerage fee - dividend= 40000*100 + 120000 -…

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A: Cash sale of additional ordinary shares means cash will be received for the sale of additional…

Q: In 2019, Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of…

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Q: ABC Company paid dividends of P400,000 and P600,000 at the end of 2020 and 2021, respectively. The…

A: Introduction: Dividends: Dividends are shareholders funds. Dividends are given to share holders of…

Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity:   Preference share…

A: Retained earnings are the earnings that have been accumulated over a period of time. The ending…

Q: On February 2019, Sean Company began operations by issuing at P15 per share 50% of the 950,000…

A: Stockholder's equity on 31 Dec 2020   Ordinary Share Capital   Authorized 950,000 shares of…

Q: In 2019, Buffalo Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares…

A: Earnings Per Share: Earnings Per Share is also known as net income per share. It measures the amount…

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A: Journal entry: Journal entry is the process of documenting commercial transactions for the first…

Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…

A: Given that preference shares are cumulative in nature. So if the preference shares are cumulative in…

Q: At the end of 2018, ABC Company has 18,000 shares, P 20 par ordinary shares that were all issued at…

A:

Q: GMA Co. had 900,000 ordinary shares issued and outstanding at December 31, 2019. On July 1, 2020 an…

A: Share dilution occurs when a business issues new stock, reducing a current shareholder's ownership…

Q: On January 1, 2020, Star Corp. sold 10,000 shares of common stock, par $2, at $18 per share. On…

A: Under the treasury stock method, the common stock are held as treasury stock and they are not…

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A: Total stockholders equity is the source of company's assets. Total Stockholders equity = Total…

Q: During the year ended December 31, 2020, Gluco Inc. split its stock on a 3-for-1 basis. In its…

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: During the year ended December 31, 2020, Gluco Inc. split its stock on a 5-for-1 basis. In its…

A: EPS = Net income / Average shares of common stock outstanding for that year

Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…

A: Cumulative preference share can enjoy the right of any unpaid dividend on their share capital.…

Q: ABC Company paid dividends of P400,000 and P600,000 at the end of 2020 and 2021, respectively. The…

A: The calculation of total par value of preference shares has been made as follows: Total par value of…

Q: n 2021, wow company issued 1,000,000 no-par value ordinary shares for P1.15 per share. The stated…

A: Company means a form of business where the share holder invest money in business in form of shares…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.