The ABC's statement of financial position shows total shareholders' equity of P3,150,000 as of December 31, 2020. What is the book value per share, assuming that the company has only one class of share capital issued consisting of 52,000 ordinary shares, including 2,000 shares reacquired, with a par value of P 10? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
Q: Bernabe Company reported the following equity accounts in January 1, 2020: Share Capital, P20 par…
A: Formula: Share premium = Beginning share premium - Shares reacquired value
Q: Nottebart Corporation has outstanding 10,000 shares of $100 par value, 6% preferred stock and 60,000…
A: Cumulative preference shareholders are the holders of the preference securities of a company whose…
Q: On June 30, 2019, when Elmer Inc. shares were selling for $ 65 each, the equity accounts had the…
A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…
Q: How much is the total shareholder's equity at December 31,2019? To input answers, kindly follow the…
A:
Q: The owner equity accounts for Masterson International are shown here Common stock (of $1 par…
A: Working: Original Shares Outstanding = Value of Common Stock / Par Value per share = $45,000 / $1.00…
Q: On October 1, 2021, 500 shares of treasury stock were purchased at $40 per share. On January 15,…
A: The question endeavors to understand which of the four options would be a result of the transaction…
Q: Alpha company reported the following equity accounts on January 1, 2020. Tpoint hare capital, P20…
A: Share Premium: When shares are issued more than PAR value called Issued at premium. Share premium =…
Q: Stan statement of financial position shows total shareholders' equity of P3,150,000 as of December…
A: Solution: Outstanding shares = Issued shares - shares in treasury = 52000 - 2000 = 50000 shares
Q: The NiceWay Corporation's statement of financial position shows the total stockholders' equity of…
A: The book value per share is calculated as total shareholders equity divided by number of shares…
Q: Kingdom Corporation has the following $500,000 Preferred stock, $10 par value, 7%, 50,000 shares…
A: Dividend declared is first distributed to preferred stockholders at the rate prescribed and the…
Q: The following account balances relate to the stockholders' equity accounts of Sunland Corp. at…
A: The cash flow statement assesses a corporation's ability to handle its cash balance, or how…
Q: On January 1, 2021, Oriole Corporation had 1,020,000 shares of common stock outstanding. On March 1,…
A: EPS means net earnings on a single share. Firm use equity funds to generate a profit. EPS show how…
Q: Otis Thorpe Corporation has 10,000 shares of $100 par value, 8%, preferred stock and 50,000 shares…
A: A cumulative preferred stock implies that a preferred stockholder is entitled to receive dividends…
Q: The equity section of Gannon Oilfield Corporations balance sheet at December 31,2019 is shown below:…
A: Average price received for each issued preferred share = Issued and Outstanding preferred capital /…
Q: The ABC's statement of financial position shows total shareholders' equity of P3.150.000 as of…
A: Formula used: Book value per share = Total Shareholders equity / Outstanding shares Division of…
Q: On December 31, 2020, the Treasury Share account of Jumbo Corporation showed a balance of $490,000.…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: ordinary shares and outstanding at December 31, 2021. On July 1, 2022, an additional 40,000 shares…
A: Diluted Shares can be referred as the total number of shares which the corporation has at the…
Q: On December 31, 2023, Contreras Corp. has 1,500 shares outstanding of $20 par value 6% preferred…
A: As per IAS 33, Earnings per share In case of cumulative Preferred Dividend the arrears of dividend…
Q: Elston Limited had the following equity accounts on January 1, 2020: Share Capital—Ordinary ($5 par)…
A: Answer - Part 1 - Journal Entries Date Particulars Debit Credit…
Q: ABS Co. had 900,000 ordinary shares issued and outstanding at December 31, 2019. On July 1, 2020 an…
A: First, calculate the diluted effect on stocks: Stock option dilluted effect=Share option…
Q: age selling price of the stock that had been issued as of december 31, 2021? b. The par value of…
A: Since as there are multiple sub parts are given, so as per answering guidelines we do only first…
Q: The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following:…
A:
Q: On December 31, 2020, BFAR Corp. has 5,000, 6% cumulative and non-participating preference shares…
A: Dividends are paid in two types Stock dividends and Cash dividends. Stock dividend means a payment…
Q: ABC Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10…
A: Share premium from Jan. 12 transaction = (Issue value per share - par value per share) x no. of…
Q: Bridgeport Corporation has outstanding 10,700 shares of $100 par value, 6% preferred stock and…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: he ABC's statement of financial position shows total shareholders’ equity of P3,150,000 as of…
A: Book value per share = Balance of Stockholders Equity/ Number of shares of common stock outstanding…
Q: On December 31, 2020, the Frisbee Company had 262,000 shares of common stock issued and outstanding.…
A: Earnings per share indicate the profits per share of common stockholders. It can be calculated by…
Q: Mack Company reported the following outstanding share capital on December 31, 2020: - 30,000…
A: The cumulative dividend is payable even if it is in arrears.
Q: Kingdom Corporation has the following: Preferred stock, $10 par value, 9%, 50,000 shares issued…
A: Equity shares provide the ownership of the company and shareholders are paid only after the dues…
Q: On January 1, 2018, Juniper Corporation issued 60,000 shares of its total 200,000 authorized shares…
A: The company had issued shares at $8 and provided a premium of $4 to the shareholders. As no…
Q: At December 31, 2021, ABC had 20,000 shares of P1 par value treasury shares that had been acquired…
A: The treasury stock includes the shares that are repurchased by the company and these shares are not…
Q: The shareholders' equity section of Raja Corporation's statement of financial position as of…
A: Retained earnings is the accumulated profit of the firm which is used to expand the business or…
Q: What is the weighted-average number of shares outstanding for 2020?
A: Stock Dividends and Stock splits:- When Stock Dividend or stock split occurs, the company needs to…
Q: Jean Mier Serawak, comptroller at Amerigo Laboratories, Inc., a public company, is currently…
A: EPS = Net Income-Preference Share dividend/Average outstanding shares of the company DEPS = Net…
Q: GMA Co. had 900,000 ordinary shares issued and outstanding at December 31, 2019. On July 1, 2020 an…
A: Diluted Weighted Average Shares is the number of shares used to measure Diluted EPS. This is used as…
Q: Shamrock Corporation has 9,400 shares of $100 par value, 8%, preferred stock and 48,400 shares of…
A: For cumulative preferred stocks, the preferred dividend keeps on cumulating for all the periods for…
Q: After closing the books at month end on June 30, 2020, Slayter Corporation's shareholders' equity…
A: Stock dividend is the distribution of dividend in the form of shares of the company. Stock split…
Q: Using the information provided below, what is the share premium balance on December 31, 2021? The…
A: Share premium is the difference between the total amount of money received for the shares issued and…
Q: The shareholders’ equity section of the statement of financial position of LW Corporation showed the…
A: Bonus issue is free offer of additional shares to existing shareholders. During 2021, the…
Q: Julien Company had $800,000 net income in 2021. On 1 January 2021, there were 400,000 ordinary…
A: Earnings per share is acknowledged as the profit which can be earned by the common stockholders of a…
Q: aranji Tegar Bhd (KTB), an oil and gas company has 6,000,000 ordinary shares with a market value of…
A: (A) the appropriate journal entries to record the above transactions. S.NO DATE…
Q: a.)Pharoah Company’s net income for 2020 is $709,000, and 94,000 shares of common stock were issued…
A: A) 94,000 shares was outstanding for period 12 months Net Income for 2020 $709000 stock…
Q: ABC Corporation was organized on January 1, 2020, with authorized capital of 200,000 shares of P10…
A: Formula: Share capital = Number of shares issued x Issue price per share.
Q: On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following…
A: The correct answer is Option (d).
Q: GMA Co. had 900,000 ordinary shares issued and outstanding at December 31, 2019. On July 1, 2020 an…
A: Share dilution occurs when a business issues new stock, reducing a current shareholder's ownership…
Q: Whispering Corporation has 8,700 shares of $100 par value, 9%, preferred stock and 48,300 shares of…
A: Formula: Preferred dividend = Preferred shares x PAR value x Preferred rate
Q: On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding that was issued…
A: Given information is: Outstanding common stock = $10,00,000 Retained Earnings = $750,000 Net income…
Q: On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding. On…
A: Stock dividend is declared when the company wants to enhance its shareholders' wealth or to praise…
Q: On June 30, 2021, when ABC Co. stock was selling for $65 each, the equity accounts had the following…
A: Stock dividend is the amount of dividend which is distributed in the form of shares or stock. It…
34
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?
- 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.Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.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).
- Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented below. Make a list of the numbers 1 through 12 and match the letter of the most directly related definition or example with each number Definitions and Examples Capitalizes retained earnings. Shares issued minus treasury shares. Emerson Electric will pay a dividend to all persons holding shares of its common stock on December 15, 2019, even if they just bought the shares and sell them a few days later. The accumulated earnings over the entire life of the corporation that have not been paid out in dividends. Common Stock account balance divided by the number of shares issued. The state of Louisiana set an upper limit of 1,000,000 on the number of shares that Gumps Catch Inc. can issue. Shares that never earn dividends. Any changes to stockholders equity from transactions with no owners. A right to purchase stock at a specified future time and specified price. j. A stock issue that requires no journal entry. k. Shares that may earn guaranteed dividends. 1. On October 15, 2019, General Electric announced its intention to pay a dividend on common stock.Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?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. 6.73
- Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Stanley Utilities engaged in the following transactions involving its equity accounts: Sold 3,300 shares of common stock for $15 per share. Sold 1,000 shares of 12%, $100 par preferred stock at $105 per share. Declared and paid cash dividends of $8,000. Repurchased 1,000 shares of treasury stock (common) for $38 per share. Sold 400 of the treasury shares for $42 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $87,000. Prepare a statement of stockholders equity at December 31, 2020.Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Haley engaged in the following transactions involving its equity accounts: Sold 5,000 shares of common stock for $19 per share. Sold 1.200 shares of 12%, $50 par preferred stock at $75 per share. Declared and paid cash dividends of $22,000. Repurchased 1,000 shares of treasury stock (common) for $24 per share. Sold 300 of the treasury shares for $26 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $123,700. Prepare a statement of stockholders equity at December 31, 2020.On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.