Sheba Ltd.’s statement of financial position shows ordinary share capital of £150,000 and share premium of £50,000 at the beginning of a financial year. If the ordinary share capital is £250,000 and share premium is £120,000 at the end of the financial year, how much did the ordinary share issue raise? Select one: a. £100,000 b. £250,000 c. £370,000 d. £170,000
Q: For the Year Ended April 30, 20Y2 1 Angelo Phelps, capital, May 1, 20Y1 2 Net loss 3 Withdrawals 4…
A: The temporary accounts are closed to tje retained earnings or capital account. The capital decreases…
Q: Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Bramble issued…
A: Given in the question: Number of shares issued = 4,100 Par value per share = $4 Fair Value on…
Q: Andretti Company has a single product called a Dak. The company normally produces and sells 87,000…
A: Variable costs and fixed costs are two types of cost in the business. Variable costs directly change…
Q: International Business Machines (IBM) is a leading provider of computer products and services. The…
A: Warranty expense is the expense that is bear by the seller if the product sold by the seller is…
Q: On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: 4. Broadside Importers recently financed a multi-state expansion by issuing $50,000,000 in 10- year…
A:
Q: Mickley Company’s plantwide predetermined overhead rate is $20.00 per direct labor-hour and its…
A: The total manufacturing cost refers to the cost incurred in factory for the production of goods.…
Q: Goldberg Company is a retail sporting goods store that uses an accrual accounting system. Facts…
A: Budgeted cash collection:— It is the estimated amount of collection expected from customer during…
Q: The following select account data is taken from the records of Reese Industries for 2019. Sales…
A: "Since you have posted a question with multiple sub- parts, we will solve only first three sub-…
Q: MCIVTOMOM OM+ DIMIY SE5% 09 EN
A: The lumpsum insurance policy amount receipt is taxable over $…
Q: Required information MG-17, M6-18, M6-19 (Algo) Analyzing Multiproduct CVP (LO 6-6) [The following…
A: Break-even point is a financial term that refers to the level of sales at which a business neither…
Q: Required information [The following information applies to the questions displayed below.] Diego…
A: Variable costs are those costs which changes along with change in activity level. Under variable…
Q: 24-26 (Objective 24-3) In analyzing legal expense for the Boastman Bottle Company, Mary Little, CPA,…
A: Audit procedures refer to the specific activities and techniques that an auditor uses during an…
Q: ces Required: 1. Do you agree with the intern's decision to use an absorption format for her…
A: Note: Since you have asked for multiple sub-parts, we will do the first three sub-parts asked by…
Q: Please do not give solution in image format thanku
A: A financial indicator called inventory turnover ratio is used to assess how well a firm manages its…
Q: a. Prepare a multistep income statement. b. Compute the gross profit percentage.
A: Introduction: - Income statement shows company's income and expenses over a period of time.…
Q: Required information [The following information applies to the questions displayed below.] Trey…
A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method. Using…
Q: Current Attempt in Progress Windsor sells a snowboard, EZslide, that is popular with snowboard…
A: INVENTORY VALUATION Inventory Valuation is a Method of Calculation of Value of Inventory at the End…
Q: Forten Company's current year income statement, comparative balance sheets, and additional…
A: The cash flow statement assesses a corporation's ability to handle its cash balance, or how…
Q: What measurement focus and basis of accounting should be used by a local government's…
A: The appropriate measurement focus and basis of accounting for a local government's private-purpose…
Q: Roth Service Co. experienced the following transactions for Year 1, its first year of operations: 1.…
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity. The…
Q: Using the provided information calculate the NPV Mkhize Ltd is considering buying a machine and has…
A: NET PRESENT VALUE Net Present Value is one of the Important Capital Budgeting Technique. Net…
Q: 2 The following are accounting principles except OA Prudence principle OB. Accrual principle OC.…
A: Accounting is a process to recognize and record the transactions and prepare the financial…
Q: Ay 2 XYZ Ltd, a British Columbia employer, awards Theresa Ray a $1,950.00 bonus that will be paid…
A: A bonus is a form of extra compensation or reward given to an employee or group of employees in…
Q: sandra will invest a piece of equipment with a book value of $7,500 and a fair market value of…
A: Fair market value is the approximate price at which the assets can be purchased and sold in the…
Q: Imperial Jewelers manufactures and sells a gold bracelet for $408.00. The company's accounting…
A: Relevant cost is the cost which alternates between the two alternatives. If the cost remains the…
Q: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a…
A: Variable Costing Includes Only Variable Manufacturing Costs But Excludes Fixed Manufacturing…
Q: Your weekly gross pay is $800 and your weekly total deductions are $150. Find the weekly NFT dav.
A: It's important for employers to stay up-to-date with payroll regulations and laws to avoid penalties…
Q: E7-3 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the…
A: NOTE: ''Since you have posted multiple questions, we will provide the solution only to the first…
Q: of volume per year. The business will be divided among five payers: program 1 will cover 50% of…
A: Break even point is very important in doing business because this is the point where all fixed cost…
Q: Break-even sales and sales to realize operating income For the current year ended March 31, Kadel…
A: BREAKEVEN POINT Break Even means the volume of production or sales where there is no profit or loss.…
Q: The adjusted trial balance for Blossom Farm Corporation at the end of the current year contained the…
A: Preparation of long term liabilities section of balance sheet of Blossom firm corporation are as…
Q: Discuss the different types of income
A: Income can be described as the money or value received for the sale of goods or provision of…
Q: Current Attempt in Progress Skysong Corporation purchased a tract of unimproved land for $557,000.…
A: Net profit refers to the gain from deducting the expenses from the revenue earned during the year by…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A:
Q: P Co regularly sells goods to its one subsidiary company, S Co, which it has owned since S Co's…
A: Consolidated Balance Sheet A financial report that displays the economic position of a parent…
Q: On January 1, 2024, Onyeocha Climbing Academy Instituted a defined benefit pension plan for its…
A: Pension expense is the amount that a business charges to expense in relation to its liabilities for…
Q: Jackson Company acquires 100% of the stock of Clark Corporation on January 1, 2020, for $4,100 cash.…
A: Consolidated financial statements is the statement prepared by the parent company under which the…
Q: Montoure Company uses a perpetual inventory system. It entered into the following calendar-year…
A: Inventory can be valued using various methods -First-in First-Out Method - Under the First-in…
Q: FGH company budgeted merchandise purchases of 50,000 units next. The expected beginning inventory is…
A: Sales Budget and Production budget :Sales budget is prepared to show the no. of units to be sold in…
Q: share price is $22, it has 10 million shares outstanding, and its tax rate is 30%, does Marine Tech…
A: Free cash flow is calculated to measure the financial performance of a company. It is calculated by…
Q: Solve the following ledger please 1. We buy goods on credit for $30,000.00, we pay 50% in cash, and…
A: Dear student, as per Bartleby's guidelines when a student posts a question with multiple sub-parts…
Q: Required information [The following information applies to the questions displayed below.] Iguana,…
A: In accounting, budgeting refers to the process of creating a financial plan for a specific period,…
Q: This sequence reconciles folios, processes credit card transactions, generates postings, calculates…
A: The daily transactions of the company or any business should be reconciled and recorded so that each…
Q: Prepare a balance sheet in report form as of December 31, 20Y8
A: A balance sheet is an accounting report that shows a corporation's assets liabilities, and…
Q: Bruce is single and has adjusted gross income for the current year of $90,000 before any deduction…
A: Passive income is income that is earned from rental property, limited partnership, or other sources…
Q: Marigold Company uses the periodic inventory method and had the following inventory information…
A: The inventory can be valued using various methods as, FIFO, LIFO, and average method. Using FIFO…
Q: Rose Oil Cosmetics plans to grow its company by offering a new line of anti-aging products that are…
A: The balanced scorecard is a strategic management tool that provides a comprehensive view of an…
Q: 1. Compute the company's net sales for the year. 2. Compute the company's total cost of merchandise…
A: The total cost of merchandise purchases is the cost which is the net purchases of the products for…
Q: A recent path in the financial disclosure literature has aimed at uncovering information in the…
A: Textual analysis is a method of analyzing large volumes of text to identify patterns, themes, and…
Sheba Ltd.’s
Select one:
a. £100,000
b. £250,000
c. £370,000
d. £170,000
Step by step
Solved in 2 steps
- 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).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. 6.73Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.
- 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.Michelle Company had the following share capital issued and outstanding for the entire current year: 200,000 ordinary shares, P10 par 2,000,000 2,000 12% noncumulative preference shares, P100 par, convertible share into ordinary share 200,000 The net income for the year was P1,800,000, and the income tax rate for the year was 30%. In the computation of basic earnings per share, what is the amount to be used as earnings?During 20B, Glaiza company had the following two classes of share capital issued and outstanding for the entire year: Ordinary share capital, 300,000 shares, P10 par P3,000,000; Preference share capital, 3,000 shares, P100 par, 12% convertible Share for share into ordinary share, P300,000. Glaiza's net income for 20B was P2,700,000, and its income tax rate is 30%. In the computation of basic earnings per share, what is the basic earnings per share? Choices: 9.12 8.88 6.12 9.00
- Hopeful Ltd. had issued 500,000 shares at a nominal value of 25p each when it commenced business. After two years of profitable trading it issued a further 250,000 shares at a market price of 75p per share. Which of the following would be reported as equity in the statement of financial position after the second share issue? A. Share capital £187,500, share premium £125,000 B. Share capital £125,000, share premium £187,500 C. Share capital £312,500 D. Share capital £125,000, share premium £125,000ZZZ Company had the following share capital at the end of the current year: Preference share capital, P100 par, 30,000 shares 3,000,000 Ordinary share capital, P50 par, 100,000 shares 5,000,000 Net income for the year 2,600,000 The preference dividend rate is 8% and the preference share is nonconvertible but cumulative and fully participating. After the ordinary share has been paid a dividend of P10 per share, the preference share shall participate in any additional dividend on a prorate basis with the ordinary share. Questions: 1. Compute for the basic earnings per ordinary share. 2. Compute for the basic earnings per preference share.During 20B, Glaiza company had the following two classes of share capital issued and outstanding for the entire year: Ordinary share capital, 300,000 shares, P10 par, P3,000,000; Preference share capital, 3,000 shares, P100 par, 12% convertible Share for share into ordinary share, P300,000. Glaiza's net income for 20B was P2,700,000, and its income tax rate is 30%. In the computation of basic earnings per share, what is the amount to be used as earnings? Choices A. 2,736,000 B. 2,664,000 C. 1,836,000 d. 2,700,000
- A company issued 20,000 shares of its P70 par value ordinary share capital and 8,000 of its P80 par value preference share capital for a total amount of 1,800,000. At this date, the company’s ordinary share capital was selling P 80 per share and the preference share capital was selling for P100 per share. What amount of the proceeds should be allocated to the preference share capital?At the beginning of the current year, Riza Company issued 10,000 ordinary shares of P20. Par value and 20,000 convertible preference shares of P20 par value for a total of P800,000.At this date, the ordinary share was selling for P36, and the convertible preference share was selling for P27. What is the share premium from the issuance of preference shares? a. 360,000 b. 200,000 c. 320,000 d. 400,000 What is the share premium from the issuance of preference shares? a. 180,000 b. 100,00 c. 80,000 d. – 0 –Kremlin Company reported the following shareholders' equity at year-end: Share capital, P30 par value, P3,000,000; Share premium, P600,000; Retained earnings, P4,200,000. A 20% share dividend was declared and distributed at year-end when entity's share was selling at P65. What amount should be reported as share capital outstanding?
