Required InformationKnowledge Check 01Which of the following statements about contingently issuable shares are true? (Select all that apply.)Check All That ApplyContingently issuable shares are shares of common stock to be issued, contingent on the occurrence of some future circumstance.If contingently issuable shares will be issued at a future date if a certain level of income is achieved and that level of income or more wasalready reported this year, those additional shares are added to the numerator of the diluted EPS fraction.If contingently issuable shares will be issued at a future date if a certain level of income is achieved and that level of income or more wasalready reported this year, those additional shares are added to the denominator of the diluted EPS fraction.When calculating EPS, contingently issuable shares are always considered to be outstanding in the computation of diluted EPS.Prev17 of 18Next>IMG-1896.jpgIMG-1895.jpgIMG-1894.jpgndf.

Contingency represents the fulfilment of a task at a contingent event, which may or may not arise in…

Answered: Knowledge Check 01 Which of the…

Cornerstones of Financial Accounting

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Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

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Problem 80E: Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented...

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Use the same facts as in RE 16-3, but instead assume that Pickens declares and issues a 50% stock dividend when the stock is selling for 30 per share. Prepare the journal entry on the date of declaration to record Pickenss stock dividend.
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Note 25, “Share Repurchase,” provides the information we need to reconstruct thejournal entry that summarizes Target’s share repurchases in the year endedJanuary 30, 2016. Provide that entry. Does Target account for share repurchases astreasury stock or retired shares? Explain.
1. Using the given data below, (there was a typo error, the date December 31, 2014 should be December 31, 2018). The question is, at December 31, 2019, how many shares were authorized?2. at December 31, 2019, how many shares are issued3. at December 31, 2019, how many shares are outstanding?
Treasury stock should be reported Group of answer choices in the Investments and Funds section of the balance sheet. as a deduction from total stockholders’ equity on the balance sheet. as a current asset only if it will be sold within the next year or the operating cycle, whichever is longer. as a current asset only if it will be sold within the next year or the operating cycle, whichever is shorter.
Question 1What is the accounting treatment of the direct issue costs of shares of stocks?O Debit to the related share premiuin during organization stage and operating stageDebit to organizational cost during the organization stageDebit to revenue expenditure during the operating stageDebit to accumulated expenses during the operating stageDQuestion 2What is the total number of shares that a corporation may issue under its charter?O Authorized sharesIssued shareso Unissued sharesO Treasury sharesEQuestion 3In case shares are issued for outstanding liabilities, what is the measure of recording share capital and share premium?O Par value of the shares issuedAmount of liabilities set-offFair value of the shares issuedBook value of the shares issued
PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial statements of the Pin Shop Company for the year 2020, the following investment in Ordinary shares and dividend income accounts were presented to you: Investment in ordinary shares Date    Description                                                                  Ref.                 Debit    Credit 01/15   10,000 O/S, par value P75, SPIKES CO.                  VR-18             585,000 04/30   5,000 shares SPIKES Co. received as share div.     CJ-7                375,000 05/20   Sold 5,000 shares @ P37.5                                       CR-21                         187,500 12/10   Sold 2,000 shares @ P90                                          CR-S2                         180,000 Dividend Income Date    Description                                                                  Ref.                 Debit    Credit 04/30   Share Dividend…
PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial statements of the Pin Shop Company for the year 2020, the following investment in Ordinary shares and dividend income accounts were presented to you: Investment in ordinary shares Date    Description                                                                  Ref.                 Debit    Credit 01/15   10,000 O/S, par value P75, SPIKES CO.                  VR-18             585,000 04/30   5,000 shares SPIKES Co. received as share div.     CJ-7                375,000 05/20   Sold 5,000 shares @ P37.5                                       CR-21                         187,500 12/10   Sold 2,000 shares @ P90                                          CR-S2                         180,000 Dividend Income Date    Description                                                                  Ref.                 Debit    Credit 04/30   Share Dividend…
PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial statements of the Pin Shop Company for the year 2020, the following investment in Ordinary shares and dividend income accounts were presented to you: Investment in ordinary shares Date    Description                                                                  Ref.                 Debit    Credit 01/15   10,000 O/S, par value P75, SPIKES CO.                  VR-18             585,000 04/30   5,000 shares SPIKES Co. received as share div.     CJ-7                375,000 05/20   Sold 5,000 shares @ P37.5                                       CR-21                         187,500 12/10   Sold 2,000 shares @ P90                                          CR-S2                         180,000 Dividend Income Date    Description                                                                  Ref.                 Debit    Credit 04/30   Share Dividend…
You have been provided with the following information for the year ended 30 June 2022 for ABCLtd:RNet profit for the year -R1 800 000Weighted average number of shares (WANOS) outstanding during the year-R 120 000Average fair value per share -R30.00Weighted average number of shares (WANOS) under option during the year -R25 000Exercise price for shares under option during the year -R28.00REQUIRED:Q.2.1 Explain the purpose and objective of disclosing diluted earnings per share.
1. Determine the year end balance of the Treasury Shares.2. Determine the year end balance of the Ordinary Share Capital. 3. Determine the year end balance of the Share Premium - Issuance.
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Knowledge Check 01 Which of the following statements about contingently issuable shares are true? (Select all that apply.)