The shareholders' equity of Rockets Corporation at the end of 2020 and 2019 are as follows: 2020 2019 P 870,000 Ordinary Share Capital, P 10 par 12% Preference Share Capital, P 40 par Ordinary Share Premium P2,630,000 2,008,720 1,026,000 580,000 300,000 Preference Share Premium 322,128 123,000 Retained Earnings The average issue price of the Preference Shares issued in 2020 is? 5,640,000 3,920,000
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: ABC Co. 's shareholders' equity on December 31,2020 are as follows: 7% preference shares P100 par…
A: Book value per share is determined by dividing the net assets of the entity by total ordinary shares…
Q: The shareholders' equity of Garnet Corporation on December 31, 2021 showed the following items: 8%…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: the shareholders’ equity section of Pampanga Corporation’s statement of financial position as of…
A: The amount of retained earnings is that portion of the company's equity that can be utilized for the…
Q: Using the information below, how may Ordinary shares were issued in 2020? The shareholders' equity…
A: Ordinary share capital gets impacted only when shares are issued, therefore, to ascertain the number…
Q: The shareholder' equity of M Corp on Dec 31, 2021 follows: 10% Preference share capital P100 par,…
A: The dividend in arrears are paid to only cumulative preference shareholders. The book value per…
Q: amarisk, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 950…
A: Journal Entry: It is the entry which is used by an enterprise to record the business transactions…
Q: The shareholders' equity of ADAM Co on January 1, 2020 appears as follows: 12% Preference share,…
A: The ordinary shares of a company can be issued at par, at discount, or at a premium. When an…
Q: At December 31, 2019 and 2020, Lapham Corp. had 200,000 shares of common stock and 20,000 shares of…
A: The earnings per share is calculated as net income available to common shareholders divided by…
Q: pital structure of Thor Company on December 31, 2019 follows: 12% Preference share capital, P200…
A: Stockholders' equity, also known as shareholders' or owners' equity, is the amount of assets…
Q: The Red Violet Company paid a total of P 610,000 dividends in 2020 to its 250,000 shares of P 10 par…
A: a) Order of payment Type of shares Total amount of dividend Calculations 1st…
Q: The VWX's statement of financial position shows total shareholders’ equity of P3,150,000 as of…
A: Book value per share = Total shareholders equity/Number of common equity share outstanding Total…
Q: The shareholders' equity section of the 30 June 2020 balance sheet for Charbel Constructions is as…
A: Outstanding shares refer to the number of shares issued and subscribed by the shareholders of a…
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: The shareholders' equity of Janet Corporation at the end of 2018 and 2017. are as follows: 12%…
A: Number of preference shares as on 31st December 2018 = P1,000,000P100 = 10,000 shares Number of…
Q: Hoseok Corporation has the following data on stock issued and outstanding at December 31, 2020: >10%…
A: Annual Dividend to Preferred shareholders = Preference Share Capital x rate of dividend = P400,000 x…
Q: The shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital…
A: A dividend is considered as a part of the distributable profit distributed by the company to its…
Q: the shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: he following information for Smith Inc., for the year 2019, is as follows: Earnings from…
A:
Q: On January 1, 2021, BLACK WIDOW Company offered its top management share appreciation right with the…
A: Compensation expense recognized upto December 31, 2022 = (Quoted price per share on December 31,…
Q: provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10%…
A: Solution Concept Book value of ordinary share =ordinary share capital +share premium +retained…
Q: At December 31, 2018 and 2019, Eagle Company had outstanding 4,000 shares of P100 par value 12%…
A: Preference Share dividend is the sum of arrears for 2018 plus the dividend for the year 2019.…
Q: On January 1, 2021, BLACK WIDOW Company offered its top management share appreciation right with the…
A: Compensation expense recognized upto December 31, 2022 = (Quoted price per share on December 31,…
Q: The shareholder’ equity of M Corp on Dec 31, 2021 follows: 10% Preference share capital P100…
A: The dividend is declared to the shareholders from the retained earnings of the business. The book…
Q: Prepare a partial balance sheet showing the investment-related amounts to be reported at December…
A: Ivanhoe, Inc. Partial Balance Sheet Particulars Dec 31, 2020 Dec 31, 2021 Current Asset…
Q: On December 31, 2019 and 2020, Carr Company had outstanding 40,000 preference shares with P100 par…
A: Share Capital:- Share capital is considered as the money which a firm raises from selling ordinary…
Q: ABC Company had 600,000 ordinary shares outstanding on January 1, 2020. During 2020, ABC Company…
A: Given that, The net income of ABC Company for 2020 is P8,550,000 ABC Company had 600,000 ordinary…
Q: Coronado, Inc. has 3500 shares of 4%, $50 par value, cumulative preferred stock and 70000 shares of…
A: Introduction: Dividends: Dividends are given to shareholders of the company. Its a kind of return on…
Q: The shareholders' equity of the ABA Company on January 1, 2020 is presented below: Share capital,…
A: It shows the sum of the amount invested by shareholders and retained earnings. It is divided into…
Q: Wilco Corporation has the following account balances at December 31, 2020. Share…
A: Definition: Balance sheet: This financial statement reports a company’s resources (assets) and…
Q: As of Dec. 31, 2020, DM Corporation has 10% Preference shares (cumulative and participating) with…
A: The cumulative preference shareholders have the right to receive the dividend even if it is in…
Q: As of Dec. 31, 2020, DM Corporation has 10% Preference shares (cumulative and participating) with…
A: "Since you have asked multiple question we will solve the first question for you. If you want any…
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: CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited…
A: The date of declaration is relevant among all Dates for making declaration of dividend and…
Q: The shareholders' equity of Rockets Corporation at the end of 2020 and 2019 are as follows: 2020…
A: Average issue price can be calculated by dividing the total amount of preference share i.e par value…
Q: The shareholders equity of High Company included P3,000,000 of P10 par ordinary share capital and…
A: Cash dividend is paid to Preference Shareholder and Equity Shareholders. Preference Shareholders…
Q: Ivanhoe, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company…
A: SOLUTION- WORKING NOTES-1 SECURITIES COST FAIR VALUE UNREALIZED GAIN /LOSS EVERS COMPANY…
Q: Company B had net income for the fiscal year ended December 31, 2020 of $5 million. There were…
A: Earnings per share (EPS) = (Net income – Preference Dividends) / Weighted average common share…
Q: Marigold, Inc. has 10500 shares of 4%, $100 par value, noncumulative preferred stock and 105000…
A: A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,…
Q: The capital accounts of Gripit Company as of yearend 2021 are as follows: Ordinary Share Capital…
A: A stock dividend is considered a small stock dividend if the number of shares being issued is less…
Q: Sunland Inc., has 1200 shares of 6%, $50 par value, cumulative preferred stock and 49492 shares of…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: "The shareholders equity section of N Company at the end of the 2021 and 2020 are as follows: (2021)…
A: Solution Given 2021 2020 Preference share par 1500000 800000 Share premium…
Q: The total stockholders' equity of Honest Corporation is P748,125 on December 31, 2020, with total…
A: Book value per share is different from the par value of share. It includes the value of retained…
Q: ABC Company had 600,000 ordinary shares outstanding on January 1, 2020. During 2020, ABC Company…
A: ESP is the formula used by financial management to determine the earnings per share generated by the…
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: At December 31, 2019 and 2020, New Corporation had outstanding 2,000 shares of P 100 par 6%…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: The shareholders' equity of Janet Corporation at the end of 2018 and 2017. are as follows: 2018…
A: 2018 2017 12% preference share 1000000 600000 Ordinary share 2000000 1800000 Share premium -…
Q: Part A The equity section of Island Ltd as at July 1, 2020 is as follows: Share capital 2,000,000…
A: The journal entries for the issue of ordinary shares, declaration and payment of interim Dividend…
Q: On December 31, 2019, an entity reported the following equity items: 8% cumulative preference shares…
A: The earnings per share is calculated as net income available to common shareholders divided by…
1. see image for the question and statment
choices:
a. 176,000
b. 263,000
c. 204,000
d. 321,000
Step by step
Solved in 2 steps
- Cumulative Preferred Dividends Capital stock of Barr Company includes: As of December 31, 2018, 2 years dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total S360.000. Required: Determine the amount of dividends that will be paid to Barrs common and preferred stockholders in 2019. If Barr paid $280,000 of dividends, determine how much each group of stockholders would receive.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?Leverage Cook Corporation issued financial statements at December 31, 2019, that include the following information: Balance sheet at December 31,2019 Assets $8,000,000 Liabilities $1,200,000 Stockholders' equity (300,000 shares) $6,800,000 Income statement for 2019: Income from operations $1,200,000 Less: Interest expense (100,000) Income before taxes $1,100,000 Less: Income taxes expense (0,30) (330,000) Net income $ 770,000 The levels of assets, liabilities, stockholders' equity, and operating income have been stable in recent years; however, Cook Corporation is planning a 51,800,000 expansion program that will increase income from operations by $350,000 to $1,550,000, Cook is planning to sell 8.5% notes at par to finance the expansion. Required: What earnings per share does Cook report before the expansion?
- 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.Waseca Company had 5 convertible securities outstanding during all of 2019. It paid the appropriate interest (and amortized any related premium or discount using the straight line method) and dividends on each security during 2019. Each of the convertible securities is described in the following table: Additional data: Net income for 2019 totaled 119,460. The weighted average number of common shares outstanding during 2019 was 40,000 shares. No share options or warrants arc outstanding. The effective corporate income tax rate is 30%. Required: 1. Prepare a schedule that lists the impact of the assumed conversion of each convertible security on diluted earnings per share. 2. Prepare a ranking of the order in which each of the convertible securities should be included in diluted earnings per share. 3. Compute basic earnings per share. 4. Compute diluted earnings per share. 5. Indicate the amount(s) of the earnings per share that Waseca would report on its 2019 income statement.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.
- 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.Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its 10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was 20 per share. The shares were issued on December 24, 2019. What was the effect on Garretts shareholders equity accounts as a result of the preceding transactions?Common Dividends Thompson Payroll Service began in 2019 with 1,500,000 authorized and 820,000 issued and outstanding S8 par common shares. During 2019, Thompson entered into the following transactions: Declared a S0.20 per-share cash dividend on March 24. Paid the S0.20 per-share dividend on April 6. Repurchased 13,000 common shares for the treasury at a cost of S12 each on May 9. Sold 2,500 unissued common shares for $15 per share on June 19. Declared a $0.40 per-share cash dividend on August 1. Paid the $0.40 per-share dividend on September 14. Declared and paid a 10% stock dividend on October 25 when the market price of the common stock was $15 per share. Declared a 50.45 per-share cash dividend on November 20. Paid the $0.45 per-share dividend on December 20. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) What is 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.
- Convertible Preferred Stock On January 2, 2019, Bray Corporation issues 900 shares of 100 par convertible preferred stock for 117 per share. On January 7, 2020, all the preferred shareholders convert their shares to common stock. Required: 1. Prepare the January 2, 2019, journal entry to record the issuance of the preferred stock. 2. Prepare the January 7, 2020, journal entry to record the conversion, assuming the preferred stock contract states that: a. each share of preferred stock is convertible into 7 shares of 10 par common stock b. each share of preferred stock is convertible into 12 shares of 10 par common stockCapital Stock Refer to the information for Stahl Company above. Required: What is the amount of Stahls total contributed capital at December 31, 2019?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?