Ordinary Share capital (50,000 shares in issue) 73,329,000 On 1 July 2019, Beccam Bhd made a rights issue of 1 for every 5 shares held to date, to existing ordinary shareholders at RM1.50 per share. At that date, the market price was RM2.10 per share No record was made of this rights issue. show the journal entry
Q: On July 1, 2021, Battery Company’s board of directors declared a 10% share dividend. The market…
A: A stock dividend is a dividend paid to shareholders in the form of additional shares in the company.…
Q: The capital accounts for Red Stone Company on July 1,2020 are as follows: Ordinary Share Capital, P…
A: Number of Bonus Shares Issued = Total Number of Shares x Bonus %
Q: On 30 June 2020, the equity accounts of Punter Ltd consisted of: Share capital 190,000 ordinary…
A:
Q: What is the correct answer?
A: The treasury stock are the own shares of the company that are repurchased from the shareholders of…
Q: The shareholders’ equity section of Haemul Pajeon Co. as of Dec. 31, 2019, contained the ff.…
A: Retained Earnings: When a company's direct and indirect expenses, income taxes, and dividends to…
Q: Meranti Majų Bhd has the following equity balances at 31 December 2019. RM'000 Share Capital –…
A: Buy Back of Shares: A share repurchase, often known as a buyback, is a decision made by a…
Q: The shareholders' equity section of De Guzman Company revealed the following information on Dc. 31,…
A: The share capital of a company may include various types of capital such as ordinary share capital,…
Q: Monenco SAOG has 500,000 OMR 1 common shares as on 31 July 2018.The company makes a right issue by…
A:
Q: Ali Moosa Co has issued 50,000 ordinary shares (equity shares) of OMR0.500 baisa each and 20,000 6%…
A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…
Q: On December 27, 2019, ABC Corporation issued 5,000 shares of 10% cumulative, P 100 par value…
A: Share premium per preference share = Fair value of preference share - par value of preference share…
Q: the shareholders’ equity section of Pampanga Corporation’s statement of financial position as of…
A: The amount of retained earnings is that portion of the company's equity that can be utilized for the…
Q: ABC SAOG has in issue 2,000,000 ordinary shares of OMR 0.500 fully paid. On 31st Dec 2018 management…
A: given that, number of shares = 2,000,000 ordinary shares On 31st Dec 2018 management board has…
Q: The shareholders’ equity section of Pottery Corporation’s statement of financial position as of…
A: Stockholder's equity is the amount belongs to the stockholder's of the business. It is the sum of…
Q: LEE Company had the following amounts in the shareholders’ equity on January 1, 2020: Preference…
A: Accumulated Profits are part of net income that is not distributed to the equity shareholders at the…
Q: Aalwyn Ltd was incorporated with authorized share capital consisting of 800 000 10% preference…
A: Preference shares are those share on which the dividend are issued on priority basis and before…
Q: 28. On January 1, 2019, the statement of financial position of ABC Co. shows the following…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Mark Limited was incorporated on1 January 2019. Authorised share capital was: - 1 000 000 ordinary…
A: Journal entry shows the recording of transactions during an accounting year and every transaction…
Q: XYZ Company has issued 100,000 ordinary shares. The par value of each share is 0.500baisa. Its…
A: Dividend per share = Total Dividend / No. of share
Q: On December 1, 2019, ANNA Corporation issued 1,000 shares of its P10 2 points par ordinary share…
A: The allocation of aum sum issue amount is given by Ai = Mi/M * C Where Ai = amount allocated to…
Q: The shareholders’ equity section of Haemul Pajeon Co. as of Dec. 31, 2019, contained the ff.…
A: No. of shares issued under bonus issue = No. of shares outstanding x bonus rate Amount charged to…
Q: anterbury Corp. had the following shareholders’ equity at the beginning of 2019: Ordinary Share…
A: The unappropriated retained earnings are the net retained earnings left to be distributed as…
Q: a) JH Bhd issued 20,000 redeemable preference shares for RM20,000 cash on 24 August 2020. Dividend…
A: Redeemable Preferences shares seem to be preference shares that seem to have a callable opportunity…
Q: On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding. On…
A:
Q: In 2019, Blue Corporation issued 15,000 shares for P 110 per share of P 100 par convertible…
A: There are two types of shares which can be issued by organisation to raise the fund; 1) Ordinary…
Q: 3. Al-Busthan corporation has a year end of 31 December. The company has in issue 400,000 Ordinary…
A: GIVEN DATA Al-Busthan corporation has a year end of 31 December. The company has in issue…
Q: Headlands Ltd. issues 8,600. $4 cumulative preferred shares at $66each and 15,000 common shares at…
A: The dividend is paid to the shareholders from the retained earnings of the business. The preference…
Q: Lord Aguilar Corp. plans to declare and distribute a dividend in December 2019. There are 20,000…
A: Preferred dividend = 20000 * 50 * 7% = 70000 Cumulative of previous year = 70000 Total payable…
Q: At 1 January 2020, Falmer Co had 15 million £1 equity shares in issue. On 1 April 2020, Falmer Co…
A: Number Amount 01-Jan-20 15 million 15 million 01-Apr-20 2.5 million 2.5 million 17.5…
Q: McAllister Co.'s shareholders' equity on December 31, 2020 shows the following accounts and balances…
A:
Q: The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10…
A: Company means the form of business where management is separately from the owner and has perpetual…
Q: FROZEN Corporation was incorporated on January 1, 2018 with the following authorized capitalization:…
A: SOLUTION- CONTRIBUTED CAPITAL IS THE FINANCING OF A CAPITAL (INDIVIDUAL OR PARTNERSHIP) BY THE…
Q: The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10…
A: Solution : Cost per share issued = (P9,000,000 + P2,700,000) / 900000 = P13 per share Purchase price…
Q: The Millenium Company had I00,000 shares of Ordinary Share Capital on December 31,2019. Its…
A: Treasury shares are the shares of the own company that are repurchased from the market for resale or…
Q: 7. On Dec. 31, 2018, the shareholders' equity section of A. Pacis, Inc. was as follows: Ordinary…
A: As the 900 shares are issued at fair market value of P 160 per share for the 10% declared dividend,…
Q: Integrity Company, a newly formed company, had the following shares issued and outstanding as of…
A: Ordinary share capital is the par value of ordinary shares. Preference share capital is the amount…
Q: The shareholders’ equity section of Pottery Corporation’s statement of financial position as of…
A:
Q: Pluto Company began operations on January 1, of 500,000 preference shares of P5 par value of which…
A: Contributed Capital is the amount a company receives on the account of issue of common and preferred…
Q: An entity reported the following information on December 31, 2019: Ordinary share capital 110,000…
A: The potential ordinary shares are the number of ordinary shares that may arise due to convertible…
Q: The capital accounts of Kamprad, Inc. on December 31, 2019, were as follows: Preference share…
A: Solution: Total share premium on Dec 31, 2020 = Share premium - Preference + Share premium -…
Q: On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding. On…
A: A share is the division in the capital of the company. A shareholder is entitled to receive division…
Q: he accounts from the shareholders' equity section of the balance sheet of Western Company showed the…
A: Given Information: Ordinary shares P475,000 Share premium P6,650,000 Retained earnings…
Q: The shareholders’ equity of Jungkook Corporation as of October 1, 2020 is presented below: Ordinary…
A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…
Q: Buffalo Ltd. issues 8,700, $5 cumulative preferred shares at $62 each and 15,000 common shares at…
A: Date Account Titles and Explanation Debit Credit 2020Jan . 10 Cash Dividends - Preferred…
Q: What is the weighted-average number of shares outstanding for 2020? *
A: Stock Dividends and Stock splits:- When Stock Dividend or stock split occurs, the company needs to…
Q: edunia Berhad was incorporated on 1 July 2020. On 1 August, it decided to issue 300,000 ordinary sha
A: (a) Analysis Table Category Shares Applied Shares Allotted Money Received on Application…
Q: Meranti Maju Bhd has the following equity balances at 31 December 2019. RM'000 Share Capital -…
A: The dividends may be paid either through cash or by issuing the shares to the existing shareholders.…
Q: anuary 1, 2019, ABC Corporation had 125,000 shares of its $2 par value ordinary shares outstanding.…
A: Solution: Weighted-average number of shares outstanding are the number of outstanding share which…
Q: Prelow Ltd has authorized shares at January 1, 2020 of 100,000 ordinary shares with a par value of…
A: A journal entry is the process of chronicling the financial transactions in the books of the…
Q: On December 27, 2019, ABC Corporation issued 5,000 shares of 10% cumulative, P 100 par value…
A: Share premium per preference share = Fair value of preference share - par value of preference share…
Q: ABC Co. issued share capital of 20,000 shares, P5 par, at P10 per share. The accumulated profits on…
A: Treasury Stock refers to the company’s own outstanding stock bought back from stockholders. These…
Ordinary Share capital (50,000 shares in issue) 73,329,000
On 1 July 2019, Beccam Bhd made a rights issue of 1 for every 5 shares held to date, to existing ordinary shareholders at RM1.50 per share. At that date, the market price was RM2.10 per share No record was made of this rights issue.
show the
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
- Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions took place during 2019, the first year of the corporations existence: Sold 5,000 shares of common stock for 18 per share. Issued 5,000 shares of common stock in exchange for a patent valued at 100,000. At the end of Carys first year, total contributed capital amounted to: a. 40,000 b. 90,000 c. 100,000 d. 190,000Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?
- Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000Winona Company began 2019 with 10,000 shares of 10 par common stock and 2,000 shares of 9.4%, 100 par, convertible preferred stock outstanding. On April 2 and June 1, respectively, the company issued 2,000 and 6,000 additional shares of common stock. On November 16, Winona declared a 2-for-1 stock split. The preferred stock was issued in 2018. Each share of preferred stock is currently convertible into 4 shares of common stock. To date, no preferred stock has been converted. Current dividends have been paid on both preferred and common stock. Net income after taxes for 2019 totaled 109,800. The company is subject to a 30% income tax rate. The common stock sold at an average market price of 24 per share during 2019. Required: 1. Prepare supporting calculations for Winona and compute its: a. basic earnings per share b. diluted earnings per share 2. Show how Winona would report the earnings per share on its 2019 income statement. Include an accompanying note to the financial statements. 3. Next Level Assume Winona uses IFRS. Discuss what Winona would do differently for computing earnings per share, and then repeat Requirement 1 under IFRS.Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling for 37 per share on the open market, and no significant impact on the market price is expected by the issuance of the additional shares. Prepare the journal entry to record this transaction.
- Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73Calculating the Number of Shares Issued Castanet Inc. issued shares of its $1. 50 par value common stock on November 9,2019, for $13 per share. In recording the issuance of the stock, Castanet credited the Additional Paid-In Capital- Common Stock account for $416,300. Required: How many shares were issued on November 9, 2019?
- Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.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.