Question: How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?
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A: a. Par value of the preference share = $200,000 / 500 share Par value of the preference share = $400…
Q: From the practice on page 10-4 of the VLN, how many of shares of common stock were issued?_____
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Q: have that information available to make a calculation. The number of shares: 200 Nominal value of…
A: Market value of shares = Number of shares * Market value of shares Number of shares held = 200…
Q: From page 10-1 of the VLN, when a company sells shares of stock, those shares of stock are said to…
A: When the company sells the shares, those stock is said to be Issued shared and outstanding shares.…
Q: These are shares issued plus subscribed shares minus treasury shares. * O Outstanding Shares O…
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Q: Which of the following is ordered from the largest numberof shares to the smallest number of…
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Q: Issued ___ (please refer to table below and use only the info in line with your fist name initial)…
A: Issued shares are the authorized shares sold to and held by the shareholders of a company,…
Q: 1. Prepare all journal entries 2. Provide the answer to the items below after considering all the…
A: Preference shares are the part of shareholders capital which is the combination of debt and equity…
Q: How many shares are ISSUED after the above transactions are completed? How many shares are…
A: The Issued shares are those which are issued to the public in large and the outstanding shares are…
Q: At the date of the financial statements, common stock shares issued would exceed common stock shares…
A: Treasury share:- It refers to previously outstanding share that is bought back from stockholders by…
Q: Earnings per share is computed on a. ordinary shares only b. preference shares only c. both…
A: Earnings Per Shares refers to Total Dividable profit divided by its number of common shares…
Q: a. The preferred stock of Columbia after a 10% stock dividend is $ (Round to the nearest dollar.)
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Q: Common stock-calculate issue price and dividend amount The balance sheet caption for common stock is…
A: Authorized common stock is the maximum number of shares a company can issue in its lifetime. This…
Q: Which of the following classifications represents the most shares of common stock?a. Unissued…
A: Unissued shares are those shares which are not issued yet. Issued shares means those shares which…
Q: When calculating the weighted average number of common shares, how are stock dividends and stock…
A: Treatment of stock dividends and stock splits while computing the weighted average number of common…
Q: In computing book value per share, which of these directly affect the excess over par column?
A: Introduction: Book Value The net worth of a business's assets as shown on its income statement is…
Q: Issued shares of preferred stock at par vith your first name initial In the blank/underline
A: C. issued 50% of authorized shares@ $ 100.00…
Q: Information disclosed in a balance sheet/statement of financial position about shares of common…
A: Introduction: Authorized shares: It means company is authorized to issue number of shares to public.
Q: How many shares of stock are still unissued? How many shares are subscribed? How many shares are…
A: Unissued shares of stock are part of authorized capital that is not issued by the company.
Q: . At year-end, how many ordinary shares were issued? 2. At year-end, how many shares are…
A: The treasury shares are the own shares purchased by the company.
Q: The correct order from the smallest number of shares to the largest number of shares is: a.…
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Q: Outstanding ordinary shares are: Select one: a. Shares that are performing well on the stock…
A: Stockholders’ equity: Stockholders’ equity is main portion of the balance sheet. It represents the…
Q: Prepare all journal entries. After all journal entries are prepared, compute for the ff: Issued…
A: Date Account Debit Credit January 1 Cash Preferred stock (par P8) Paid in capital in excess of…
Q: A corporation issues 3,100 shares of common stock for $99,200. The stock has a stated value of $15…
A: Whenever common stock issued with no par value and if the company has a stated value for such common…
Q: What are the number of shares, par value per share, and market price per share immediately after the…
A: Information Provided: Stock Split = 2-for-1 Common shares = 11,000 Par = $1 Market Price = $16
Q: Explain each of the following terms: authorized ordinary shares, unissued ordinary shares, issued…
A: Authorized ordinary shares refer to the total maximum number of shares that are legally allowed to…
Q: a. The number of shares outstanding after a 2-for-1 stock split is shares. (Round to the nearest…
A: When common shares go stock split, the number of shares outstanding increases, but there is no…
Q: page 10-1 of the VLN, what is the difference between issued shares and outstanding shares? A.…
A: Issued shares represents the total shares issued by the company Outstanding Shares represents the…
Q: Compute number of shares outstanding after the stock dividend. Number of shares outstanding
A: Stock dividend means a payment given to the shareholders in shares instead of a cash payment. Stock…
Q: Cash dividends are paid based on the number of shares Select one: to. authorized b. issued c.…
A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…
Q: Calculate the dividends for the following: The board of directors declared preferred dividends and…
A: Given the following information: Dividends declared to preferred stock shareholders and common…
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A: (1) The total stockholder's equity sections will represent the Owner’s capital or their claim in the…
Q: If a company issues only one class of stock, what is this kind of stock called?
A: A stock represents the ownership of investors in the company. The rights and obligations of the…
Q: Which of the following formulas is correct regarding the different status of shares of stock:…
A: Authorized shares refer to the total number of shares that a company is eligible to issue, and it is…
Q: Which of the following formulas is correct regarding the different status of shares of stock:…
A: Authorised shares are maximum number of shares that a company can issue as per permissions in…
Q: - Issued shares of common stock. Stock has par value of per share and was issued at $ per share.…
A: The shareholders equity includes the capital and retained earnings that belongs to the shareholders…
Q: Authorized shares are the a) Number of shares that have been distributed to shareholders b) Total…
A: Shares indicating the units of equity ownership according to the corporation's wealth. It distribute…
Q: The shares of stock sold to investors are Select one: a. Treasury shares. b. Authorized shares.…
A: Note: As per the policy, we are supposed to solve one question at a time.Kindly repost thefurther…
Q: How many preference shares were issued and outstanding? How many ordinary shares were issued and…
A: Preference Shares: These shares carry a preferential right over other shareholders to be paid first…
Q: Treasury stock shares are shares of stock that are: Select one: a. Authorized and issued, but not…
A: The stock or shares of a company that are bought back by that company from the market are termed as…
Q: From page 10-2 of the VLN, the common stock account amount is determined Group of answer choices A.…
A: Stockholder's Equity Stockholder's equity is the first and most important head of a balance sheet…
Q: c. How many more shares can be issued without the approval of shareholders? Number of shares issued
A: given information common stock (1 par value) = 65,000 so, as per the student request, question C…
Q: At the date of the financial statements, ordinary shares issued would exceed ordinary shares…
A: Treasury shares means the share which has been buy back by the company . It will be shown as…
Q: Prepare Swarten's journal entry if . the shares have no stated value, and . the shares have a stated…
A: Journal entry for the issue of no-par ordinary shares: a. when shares have no stated value: Cash…
Question:
- How many
preference shares were issued and outstanding? - How many ordinary shares were issued and outstanding?
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- COMMON AND PREFERRED CASH DIVIDENDS Ramirez Company currently has 100,000 shares of 1 par common stock outstanding and 5,000 shares of 50 par preferred stock outstanding. On July 10, the board of directors declared a semiannual dividend of 0.30 per share on common stock to shareholders of record on August 1, payable on August 5. On July 15, the board of directors declared a semiannual dividend of 5 per share on preferred stock to shareholders of record on August 5, payable on August 10. Prepare journal entries for the declaration and payment of the common and preferred stock cash dividends.Preferred Dividends Eastern Inc.s equity includes 8%, $25 par preferred stock. There are 100,000 shares authorized and 45,000 shares outstanding. Assume that Eastern declares and pays preferred dividends quarterly. Required: Prepare the journal entry to record declaration of one quarterly dividend. Prepare the journal entry to record payment of the one quarterly dividend.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 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. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
- Contributed 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.A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. Preferred stock subscriptions receivable 50,000 Preferred stock, 10 par, 9% (200,000 shares authorized; 20,000 shares issued)200,000 Preferred stock subscribed (10,000 shares)100,000 Paid-in capital in excess of parpreferred stock40,000 Common stock, 10 par (100,000 shares authorized; 60,000 shares issued)600,000 Paid-in capital in excess of parcommon stock250,000 Retained earnings750,000 During 20--, Gonzales Company completed the following transactions affecting stockholders equity: (a) Received 20,000 for the balance due on subscriptions for 4,000 shares of preferred stock with a par value of 40,000 and issued the stock. (b) Purchased 10,000 shares of common treasury stock for 18 per share. (c) Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d) Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e) Sold 5,000 shares of common treasury stock for 100,000. (f) Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g) Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
- 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.Issuances of Stock Cada Corporation is authorized to issue 10,000 shares of 100 par, convertible, callable preferred stock and 80,000 shares of no-par, no-stated value common stock. There are currently 7,000 shares of preferred and 30,000 shares of common stock outstanding. The following are several alternative transactions: 1. Purchased land by issuing 640 shares of preferred stock and 1,000 shares of common stock. Preferred and common are currently selling at 113 and 36 per share, respectively, No reliable appraisal of the land is available. 2. Same as Transaction 1, except that land is appraised at 104,000, and the preferred stock has no current market value. 3. Issued, for 99,000 cash, a combination of 400 shares of preferred stock and bonds payable with a face value of 50,000. Currently, the preferred stock is selling for 120 per share and the bonds at 104. 4. Same as Transaction 3, except that the bonds do not have a current market value. 5. Same as Transaction 3, except that the preferred stock does not have a current market value. 6. Preferred shareholders (who had originally paid the corporation 110 per share for their stock) convert 6,500 preferred shares into 19,500 shares of common stock. The current market prices of the preferred stock and the common stock are 120 and 41 per share, respectively. 7. The corporation calls the 7,000 shares of preferred stock (originally issued at 110 per share) at 123 per share. Common stock is currently selling for 42 per share. Shareholders elect not to convert into common stock. 8. Same as Transaction 7, except that shareholders owning 2,000 shares of preferred stock elect to convert each share into 3 shares of common stock The remaining 5,000 preferred shares are retired. Required: Next Level Prepare the journal entry necessary to record each transaction. Below each entry, explain your reason for the values used.STATED VALUE, COMMON AND PREFERRED STOCK, AND NONCASH ASSETS Dans Hobby Stores had the following stock transactions during the year: (a) Issued 5,000 shares of no-par common stock with a stated value of 10 per share for 50,000 cash. (b) Issued 6,000 shares of no-par common stock with a stated value of 10 per share for 63,000 cash. (c) Issued 3,500 shares of no-par, 6% preferred stock with a stated value of 22 per share for 77,000 cash. (d) Issued 10,000 shares of 10 par common stock for land with a fair market value of 100,000. (e) Issued 11,000 shares of 10 par common stock with an 11 fair market value for a building with an uncertain fair market value. (f) Issued 8,000 shares of 30 par, 6% preferred stock for land with a fair market value of 243,000. REQUIRED Prepare general journal entries for these transactions, identifying each by letter.
- 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).STOCK ISSUANCE (NONCASH ASSETS, SUBSCRIPTIONS, AND TREASURY STOCK) Brant Evans had the following stock transactions during the year: (a) Issued 6,000 shares of common stock with a 5 par value in exchange for real estate (land) with a fair market value of 33,500. (b) Issued 5,500 shares of common stock with a 5 par value and 7 fair market value in exchange for a building with an uncertain fair market value. (c) Received subscriptions for 11,000 shares of 5 par common stock for 58,000. (d) Received a payment of 29,000 on the stock subscription in transaction (c). (e) Received the balance in full for the stock subscription in transaction (c) and issued the stock. (f) Purchased 2,000 shares of its own 5 par common stock for 6 a share. (g) Sold 1,000 shares of the treasury stock in transaction (f) for 6.50 a share. (h) Sold 1,000 shares of the treasury stock in transaction (f) for 5.75 a share. Prepare general journal entries for these transactions, identifying each by letter.STATED VALUE, COMMON AND PREFERRED STOCK, AND NONCASH ASSETS Kris Kraft Stores had the following stock transactions during the year: (a) Issued 8,000 shares of no-par common stock with a stated value of 5 per share for 40,000 cash. (b) Issued 6,000 shares of no-par common stock with a stated value of 5 per share for 33,000 cash. (c) Issued 5,000 shares of no-par, 6% preferred stock with a stated value of 15 per share for 75,000 cash. (d) Issued 10,000 shares of 5 par common stock for land with a fair market value of 50,000. (e) Issued 20,000 shares of 5 par common stock with a 7 fair market value for a building with an uncertain fair market value. (f) Issued 8,000 shares of 50 par, 8% preferred stock for land with a fair market value of 405,000. REQUIRED Prepare general journal entries for these transactions, identifying each by letter.