Required information [The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018 5.5% cumulative preferred stock, $100 par, 20,000 shares authorized, 10,000 shares issued Common stock, $5 par, 360,000 shares authorized. 216,000 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained eamings $ 1,000,000 1,080,000 20,000 1,600,000 930,000 %24 Dividends have been declared and paid for 2018. The balance in Retained Earnings at the beginning of the year was $840,000, and there were no dividends in arrears. Net income for 2018 was $600,000. What was the amount of dividend declared on each share of common stock during 2018? Multiple Cholce

Required information [The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018 5.5% cumulative preferred stock, $100 par, 20,000 shares authorized, 10,000 shares issued Common stock, $5 par, 360,000 shares authorized. 216,000 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained eamings $ 1,000,000 1,080,000 20,000 1,600,000 930,000 %24 Dividends have been declared and paid for 2018. The balance in Retained Earnings at the beginning of the year was $840,000, and there were no dividends in arrears. Net income for 2018 was $600,000. What was the amount of dividend declared on each share of common stock during 2018? Multiple Cholce

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

ChapterC1: Eco Products, Inc

Section: Chapter Questions

Problem hA

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You will enter the Topic, Subtopic, Section, Paragraph in a fill in the blank question and your overall conclusion to this case. Example: ASC 100-10-45-4 (you do not need to enter what the guidance content) Research Case #2: Ricci Corporation is preparing their financial statements for the year ending September 30, 2021. Ricci Corporation has two categories of stock; Preferred and Common. On September 25, 2021 Ricci Corporation declared dividends on the preferred stock which will be paid on October 18, 2021. In order to calculate EPS the staff accountant had the following information: 2021 Net Income: $4,000,000 Preferred Dividends Declared in September 25, 2021 $ 500,000 but not paid until October 18, 2021 Weighted Average Number of Common Shares Outstanding 125,000 shares The staff accountant has determined…
Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…
Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…
1 The Welcome Home Company has issued rights to its shareholders . The stock is currently selling for $ 25 rights - on . It requires 6 rights and $ 21 to participate in the offering . What is the value of one right ? Select one : a $ 1.27 b . $ 3.57 c. $ .67 d . .57please answer right way, I need it as soon as possible!!!
(AUTHORIZATION MATRIX) The following are the authorized signatories for Serrano Company: Mr. A. Serrano  Mrs. B. Serrano Mr. C. Serrano Ms. D. SerranoAuthorization matrix revealed the following: Amount of Disbursement Who Will Sign? P10,000 and below ANY one (1) of the four (4) signatories P20,000 and below Mr. C. Serrano AND Ms. D. Serrano, jointly Mr. A. Serrano, singly Mrs. B. Serrano, singly P50,000 and below (PRIMARY)Mr. A. Serrano AND Mrs. B. Serrano, jointly (SECONDARY)1st signatory: either Mr. A. OR Mrs. B. Serrano;2nd signatory: either Mr. C OR Ms. D. Serrano NOTE: Secondary is only used when one of the primary is not available. On November 6, the Finance Department prepared the following checks, vouchers and supporting documents for approval: Check number Payee Amount Complete Documents 00032 Juanito Dela Costa P 7,500.00 a 00033 Crisanta Ramirez 9,473.23 a 00034 Ramona Aquino 5,267.85 a 00035 Techie Supplies Inc. 23,460.00 a…
Please create the statement of owners equity and Journal.If you can not do both .Do statement of owners equity please 4.The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend declared. • Close out dividend to retained earnings a. Issued…
XYZ SA, a hypothetical company, off ers its employees a defi ned benefi t pension plan. Information on XYZ’s retirement plans is presented in Exhibit 2. It also grants stock options to executives. Exhibit 3 contains information on the volatility assumptions used to value stock options.EXHIBIT 2 XYZ SA Retirement Plan Information 2009Employer contributions 1,000Current service costs 200Past service costs 120Discount rate used to estimate plan liabilities 7.00%Benefi t obligation at beginning of year 42,000Benefi t obligation at end of year 41,720Actuarial loss due to increase in plan obligation 460(continued)736 International Financial Statement AnalysisPlan assets at beginning of year 39,000Plan assets at end of year 38,700Actual return on plan assets 2,700Expected rate of return on plan assets 8.00%EXHIBIT 3 XYZ SA Volatility Assumptions Used to Value StockOption GrantsGrant Year Weighted Average Expected Volatility2009 valuation assumptions2005–2009 21.50%2008 valuation…
XYZ SA, a hypothetical company, off ers its employees a defi ned benefi t pension plan. Information on XYZ’s retirement plans is presented in Exhibit 2. It also grants stock options to executives. Exhibit 3 contains information on the volatility assumptions used to value stock options.EXHIBIT 2 XYZ SA Retirement Plan Information 2009Employer contributions 1,000Current service costs 200Past service costs 120Discount rate used to estimate plan liabilities 7.00%Benefi t obligation at beginning of year 42,000Benefi t obligation at end of year 41,720Actuarial loss due to increase in plan obligation 460(continued)736 International Financial Statement AnalysisPlan assets at beginning of year 39,000Plan assets at end of year 38,700Actual return on plan assets 2,700Expected rate of return on plan assets 8.00%EXHIBIT 3 XYZ SA Volatility Assumptions Used to Value StockOption GrantsGrant Year Weighted Average Expected Volatility2009 valuation assumptions2005–2009 21.50%2008 valuation…
The company have Opening stock 400 units @BD 25 and need to issue the material of 300 at what price the paerial will be issued under FIFO.
There are some owners who are desirous about comparing many financial transactions and possible outcomes to assist in their decision-making process. These individuals assumes that the business will be formed around January 1st, 2019, and that Hraesvelgr Company’s charter will authorize about 1000000 shares of common stock and 400000, $100 par value, 5% cumulative preferred stock. Issued 15000 shares of common stock. Stock has par value of $0.10 per share and was issued at $30 per share. Issued 5000 shares of preferred stock at par value as payment in exchange for legal services. Exchanged 120,000 shares of common stock for land with an appraised value of $300,000 and a building with an appraised value of $500,000. Earned Net Income $600,000 Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Answer the following questions: Prepare the journal entries with narrations to record the following: insurances of stock, close out net income to retained…
The following trial balance has been extracted from the books of Abraham as at 31st March 2023 UGX 000 UGX 000 Administrative expense 250 Distribution cost 295 Share capital (all ordinary shares of UGX 1 each 270 Share premium 80 Revaluation reserve 20 Dividend 27 Cash at bank and hand 3 Receivables 233 Interest paid 25 Dividend received 15 Interest received 1 Land and buildings at cost (land 380, building 100) 480 Land and building acc. Dep 30 Plant and machinery 400 Plant and machinery acc. Dep 170 Retained earnings account (at April 2022 235 Purchases 1260 Sales 2165 Inventory at 1 April 2022 140 Trade payables 27 Bank loan 100 Total 3113 3113 Additional Information Inventory at 31st March 2023 was valued at a cost UGX 95000. Include in this…
Locate and download Gap Inc.’s 2020 Annual Report (for fiscal year 2/2/20-1/30/21) https://investors.gapinc.com/financial-information/default.aspx Shareholder’s Equity At 2/1/20: How many shares of common stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ How many shares of preferred stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ What was the amount of dividends paid to shareholders during 2020? _______________