Question 4 of 11 Current Attempt in Progres Bramble Ltd is authorized tissue 9000 $4 concumulative preferred shares. On January 13, it issued 2.700 preferred shares for $90 cah pera Prepare the journal entry to record the transaction (Credit account steretomatically intented when the amount interne netindent many no entry is requirente No Entry for the account tities and enter for the amounts List Date Account Titles Debit Credit
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- Problem #9 Entries for Share Dividends E Tan Med-Care Inc. is a health insurance corporation. The following account balances appear on the statement of financial position of E. Tan Med-Care Inc.: Ordinary Shares (50,000 shares authorized), P10 par, P400,000; Share Premium-Ordinary, P42,500, and Retained Earnings, P299,500. The board of directors declared a 4% share dividend when the market price of the stock was P15 a share. Required: 1. Journalize the entries to record a. the declaration of the dividend. b. the issuance of the shares. 2. Determine the following amounts before the share dividend was declared: a. total share capital b. total retained earnings c. total shareholders' equity 3. Determine the following amounts after the share dividend was declared: a. total share capital b. total retained earnings c. total shareholders' equity(44). Subject:- Accounting On March 1, Emma Corp purchased 1,900 (or 11%) of the common shares of Christine Corp for $40 per share. Brokerage fees of $1,100 were incurred on the purchase. On December 1, Christine Corp declared and paid $30,000 of dividends. On December 31, shares of Christine Corp were trading at $62 per share. The investment was recorded using FVTOCI. What amount would be recorded to the "Investment in Christine Corp" account on March 1?Q.8 Company offered 10,000 ordinary shares of Rs. 10 at Rs. 9. Company received 15,000 shares application. They allotted Shares against application receipt and refund excess money. Requirement: Pass the necessary journal entries.
- AB Co issues 5.000 50c shares for $6.000. Required: What are the amounts for share capital and share premium in the statement of financial position?Encircle the correct answer. No need Solutions Question 2: A 1,000 shares subscription was declared delinquent. The outstanding receivables from A related to 1,000 shares is P110,000. Which of the following offers would pertain to the highest bidder? Allocation of 1,000 shares. a.) Bidder Delinquent subscriber 750 250 b.) Bidder Delinquent subscriber 400 600 c.) 1,000 shares , None d.) Bidder Delinquent subscriber 500 500 shares Question 3: The shareholders equity of ANITA Corporation appears as follows: Ordinary shares, 50,000 shares P100 par = P5,000,000 Share premium = 200,000 Retained Earnings = 2,000,000 Treasury shares, 5,000 were acquired at P160/share If treasury shares were reissued for P800,000 what will be the correct journal entry? a.) Cash 800,000 Share Premium 200,000…Comprehensive Problem 4Part 1: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: 1. Journalize the selected transactions. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Journalize the common stock and the preferred stock entries separately. Description Debit Credit fill in the blank 29 fill in the blank 30 fill in the blank 32 fill in the blank 33 Common stock fill in the blank 35 fill in the blank 36 fill in the blank 38 fill in the blank 39 Preferred stock e. Paid the cash dividends declared…
- Assignment Content 1. Determine the Basic and Diluted Earnings Per Share for Company X. All necessary Information is listed below. Show your calculations. 2. In 100 words, or fewer, explain why investors should be more interested in the the Diluted EPS number than the Basic EPS number. Company X information for Diluted Shares calculations for period 201X: Earnings for Year 201X - $20 million Average Basic shares outstanding for Company X in 201X – 10 million Average Stock Price for year 201X - $6.00 Warrants to purchase common shares: - Warrants A to purchase 2 million shares ex @ $2.00 - Warrants B to purchase 3 million shares ex @ $5.00. Assume the A and B Warrants are the only additional securities outstanding (besides the basic shares) for Company X in 201X. Hint: Carefully Review PowerPoint lecture slides 7 - 12, Text pages 245 -246, and the Podcast. Also, there is nothing wrong with looking up other Diluted EPS definitions online.Exercise 18-5 (Algo) Issuance of shares; noncash consideration [LO18-4] During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders’ equity. The articles of incorporation authorized the issue of 9 million common shares, $1 par per share, and 2 million preferred shares, $50 par per share. 1-February 12 Sold 4 million common shares, for $10 per share. 2-February 13 Issued 44,000 common shares to attorneys in exchange for legal services. 3-February 13 Sold 80,000 of its common shares and 3,000 preferred shares for a total of $980,000. 4-November 15 Issued 365,000 of its common shares in exchange for equipment for which the cash price was known to be $3,768,000. Required: Prepare the appropriate journal entries to record each transaction. Note: If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not in…Book Value Per share Problem 2 (Adapted)The following account balances appear in the shareholders’ equity section of Wendelove Company on December 31, 2018:Preference share capital, 12% P100 4,000,000Ordinary share capital, P100 16,000,000Share premium 8,000,000Retained earnings 4,000,000 Dividends have been paid on the preference share up to December 31, 2016.Determine the book value per preference share if the preference share is:a. cumulative and fully participatingb. noncumulative and non participatingc. cumulative and non participating