Pqulred InformetionThe following Information applies to the questions displayed below].Raphael Corporation's balance sheet shows the foliowing stockholders equity sectionProferred stock-54 cumlativo, $ par valge, 1.000 ahares asthorized, ITood andoutstandingCoenon atock-Retained earningeTotal atockholders eqpity50,000.00par value, 4.000 whares aothorize4, Insced, ad ostatanding2. if two years preferred dividends are in arrears at the current date and the board of directos declares cash divdends of StES0,compute the total amnount paid to (a preferred shareholders and (b) common shareholdersTotal amount paid to te referred sharoholders4.000Tatal amount paid to the common sharehoidersvivo Y20TApr 28, 2022, 10:02

In case of cumulative Preferred Stock, the arrears of dividends is also payable in year of divided…

Pqulred Informetion The following Information applies to the questions displayed below]. Raphael Corporation's balance sheet shows the foliowing stockholders equity section Proferred stock-54 cumlativo, $ par valge, 1.000 ahares athorised, moed and outstanding Common atoc- Retained earnings Fotal atockholders equity 130,000 par value,4.000 whares authorized, Insund, ad oststanding 2. If two years' preferred dividends are in arrears at the current date and the board of directos decares cashdvdends of StE50 compute the total amount paid to (a) preferred shareholders and D common sweholders Total amount paid to Be preferred sharohalders 4.000 Total amount paid to the common sharehoiders

Pqulred Informetion The following Information applies to the questions displayed below]. Raphael Corporation's balance sheet shows the foliowing stockholders equity section Proferred stock-54 cumlativo, $ par valge, 1.000 ahares athorised, moed and outstanding Common atoc- Retained earnings Fotal atockholders equity 130,000 par value,4.000 whares authorized, Insund, ad oststanding 2. If two years' preferred dividends are in arrears at the current date and the board of directos decares cashdvdends of StE50 compute the total amount paid to (a) preferred shareholders and D common sweholders Total amount paid to Be preferred sharohalders 4.000 Total amount paid to the common sharehoiders

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 17E

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Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).
Based on the presumption in IAS 27, the cost method is applied for equity securities when the percentage of ownership of another company is: Select one: A. 20% to 50%. B. Exactly 100%. C. Less than 20%. D. Over 50%.
The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:Current Assets P195,000Land 1,320,000Building 660,000Equipment 525,000Total Assets P2,700,000Liabilities P525,000Ordinary Shares, P5 par 900,00Share Premium 825,000Retained Earnings 450,000Total Equities P2,700,000All the assets and liabilities of Arthur were assumed to approximate their fair values except for land and building. It is estimated that the land has a fair value of P2,100,000, and the fair value of the building increased by P480,000. Ezekeil Corporation acquired 80% of Arthur’s outstanding shares for P3,000,000. The non-controlling interest is measured at fair value.Required:a. Determine the goodwill or gain on bargain purchase assuming the consideration paid includes control premium of P852,000. Determine the goodwill or gain on bargain purchase assuming the consideration paid excludes control premium of P138,000 and the fair value of the non-controlling interest is…
The following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures.Total assets$300,000Stockholders' equity—common150,000Total stockholders' equity200,000Sales revenue100,000Net income25,000Number of shares of common stock6,000Common dividends5,000Preferred dividends7,000What is the return on common stockholders' equity ratio for Benedict?
You are given the following information: Stockholders’ equity !$3.75 billion, price/earnings ratio ! 3.5, common shares outstanding ! 50 million, and market/book ratio ! 1.9. Calculate the price of a share of the company’s common stock
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Presented below is information related to Hale Corporation’s stockholders’ equity for the year ending May 31, 2019:Common Stock, $1 par$3,500,000Paid-in Capital in Excess of Par—Common Stock550,000Stock Preferred 8 1/2% Stock, $50 par2,000,000Paid-in Capital in Excess of Par—Preferred400,000Retained Earnings1,500,000Treasury Common Stock (at cost)150,000Provide Hale Corporation’s stockholders’ equity section in complete, proper format.
The company with the common equity accounts shownhere has declared a 15 percent stock dividend when the market value of its stock is$43 per share. What effects on the equity accounts will the distribution of the stockdividend have?Common stock ($1 par value)Capital surplusRetained earningsTotal owners’ equity$ 385,000846,0003,720,800$4,951,800
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The following represents the stockholder’s equity account of Security Data Company: 0 R Preferred stock R200,000 Common stock (R4 par) R200,000 Paid-in capital in excess of par R350,000 Retained earnings R350,000 Total stockholder’s equity ######## Additional information provided: Current share price R40 Earning Available to Common Shareholders (EACS) R120,000 The firm is considering a 5% stock dividend. A. Rework the stockholder’s equity account for Security Data Company should the firm decide to implement the stock dividend. Current New Preferred stock R200,000 [0,5] Common stock (R4 par) R200,000 [1] Paid-in capital in excess of par R350,000 0 [1] Retained earnings R350,000 [1] Total stockholder’s equity ######## 0.5
Splish Inc. presented the following data. Net income $2,700,000Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,800,000Common stock: Shares outstanding 1/1 781,200Issued for cash, 5/1 278,400Acquired treasury stock for cash, 8/1 153,6002-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
LABAN Company provided the following shareholders’ equity on December 31, 2020:Preference share capital, 12% P100 par1,000,000Ordinary share capital, P1004,000,000Share premium2,000,000Retained Earnings1,000,000Dividends have been paid on the preference share up to December 31, 2017.Required:Compute the book value per ordinary share and per preference share under each of thefollowing conditions with respect to preference share:d) Cumulative and non-participatinge) Noncumulative and non-participating