What was the issue price per share of ordinary shares?
Q: ble instrument payable to the order of Dora, the rat killer is a A.) An order instrument B.)…
A: Negotiable Instrument A signed paper that promises to pay a certain amount to a particular person…
Q: 2. Refer to the data in case B above. In this case, there will be no savings in variable selling…
A: This is a standalone question, and cannot be considered a follow up question. Division X has a…
Q: Repurchase agreements typically have a maturity of A) 1 - 14 days B) 7 - 21 days C)…
A: A repurchase agreement is a contractual arrangement between two parties, where one party agrees to…
Q: Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit…
A: Accumulated depreciation is the sum of the depreciation expenses charged on a particular asset. It…
Q: Piper Corporation's standards call for 4,900 direct labor-hours to produce 1,400 units of product.…
A: The number of standard hours allowed is the number of hours of production time that should have been…
Q: The following iniormation applies fo the questions dispiayed below] On January 1, 2024, Splash City…
A: Amortization schedule is the one which is prepared to show the periodic payments of the bonds or…
Q: For the following alternatives compute the De 11% as MARR. (Remember for our convention, salvage…
A: Given Project A D Initial Investment -1500 -5200 Annual Benefit 350 850 Salvage Value 320…
Q: Mayer sold his residential house and lot located in Manila on January 5, 2018 for P8,000,000.00. The…
A: Capital gain: Capital gain is the excess of selling price over the cost of the asset. Capital gain…
Q: Templeton Extended Care Facilities, Inc. is considering the acquisition of a chain of cemeteries for…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Assume you can obtain an annual interest rate of 12% compounding monthly. You are going to invest…
A: The quantity of compounding periods significantly affects how compound interest is calculated. The…
Q: Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit…
A: Depreciation is the reduction in the value of fixed asset over its useful life. It is deducted in…
Q: investment
A: Investment decisions play a key role in deciding whether a given project is worth considering or…
Q: Edile Accessories (EA) makes travel bags, both for sale under their own label ("Branded") and for…
A: Manufacturing overhead is all the indirect costs incurred during the production process. Its added…
Q: lease.
A: When it comes to an asset, leasing or buying comes into the scenario. You may either lease or…
Q: Natalie is also thinking of buying a van that will be used only for business. The cost of the van is…
A: Business entities charge the depreciation expense so that the assets in the books of accounts are…
Q: ond has a face value of $10,000,000. It has a stated interest rate of 5% and a market interest rate…
A: Bonds are kind of debt instruments in which each period there is payment interest and face value of…
Q: What is the holding period yield for an investor who pays $1,145 for a bond with a $1,000 face value…
A: Holding period yield/return is the total return received from holding the bond investment over the…
Q: Bank reconciliations are done during the first week of the succeeding month (e.g. January bank recon…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: List several common intangible assets. How is the life determined that is to be used to compute…
A: Intangible assets are the assets, which are in the control of an enterprise and which are not…
Q: At the end of September 2005, Burgess Ltd. Had a bank balance of $275,000. Cash budgeting is…
A: A cash budget is an important aspect of a company’s master budget. Cash budget shows all budgeted…
Q: The men's a capella group and women's a capella group at the local university use the same rehearsal…
A: Incremental cost refers to the extra cost that is incurred for the additional benefit. In the given…
Q: abc corporation has two classes of stock: 4%, $100 par value- cumulative preferred stock; 2000…
A: To summarize, cumulative preference shares are similar to normal preference shares but come with an…
Q: Required information [The following information applies to the questions displa The following…
A: Solution: Under direct method of service department cost allocation, cost is allocated to production…
Q: TIONS. 1. What is the meaning of cost accounting? Write any FIVE objectives of cost accounting 2.…
A: Introduction:- Cost Accounting is a process of identification, classification, measurement, and…
Q: Following is selected financial information from General Mills, Inc., for its fiscal year ended May…
A: An income statement is a financial statement that shows a company's income and expenses. It also…
Q: Suppose a firm has had the following historic sales figures. Year: 2009 2010 2011 2012 2013 Sales…
A: THE NAÏVE APPROACH ASSUMES THAT DEMAND IN THE NEXT PERIOD IS EQUAL TO DEMAND IN THE MOST RECENT…
Q: The shareholders equity section of Batangas Corporation Statement of Financial Position at the end…
A: Preference shares are one of the type of shares. These are issued when the company want to raise…
Q: On October 6, 2021, Dark Company acquired 70% of the common stock of Knight Company. The separate…
A: Consolidated financial statements are the financial statements of the group which includes the…
Q: Robinson Products Company has two service departments (S1 and S2) and two production departments (P1…
A: Total cost refers to the cost that is incurred for manufacturing the goods and services at various…
Q: On July 10, 2022, FDNACCT Services received from client a 60-day, 12%, P148,000 note for services…
A: Note payable: Note payable is an instrument through which borrower obtains money from lender and…
Q: Kaplan, Inc. produces flash drives for computers, which it sells for $20 each. The variable cost to…
A: Breakeven level of sales is the level of sales where net income/ net profit will be nil. It can be…
Q: Data for Barry Computer Co. and its industry averages follow. The firm's debt is priced at par, so…
A: Introduction:- Ratio analysis used identify the business performance of the company. It is used to…
Q: On April 7, 2024, Crane Corporation purchased two excavators at auction for a combined total cost of…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Takeout Limited is a diversified company involved in a wide range of activities in the food take…
A: Intangible assets is an asset with no physical form. Its a long term assets that accrues value over…
Q: ABC Company borrowed $100,000 at a 6% interest rate on January 1, 20X1 for one year with interest…
A: Total amount to be paid at the end of borrowing period is the sum of principal amount and interest…
Q: Employee 8 $75.000.00 $1.121.000.00 Total Calculate the Employer Health Tax premium. There are no…
A: Workmen compensation insurance is the amount provided by the employer as a compensation on the…
Q: tone: a. The separation of current debt from long-term debt is done on the date of the balance sheet…
A: The question deals with preparation of financial statements and related concepts.
Q: Swifty made two errors: 1. 2021 ending inventory was overstated by $6,200. 2. 2022 ending inventory…
A: Solution: Cost of goods sold is computed as = Beginning inventory + Cost of goods purchases - Ending…
Q: Rapid Industries has multiple divisions. One division, Iron Products, makes a component that another…
A: Transfer pricing is the price charged for the transfer of the products internally between the…
Q: You purchased 100 shares of stock at $30 per share. You paid a 2% commission on the purchase. In…
A: Current yield in the rate of return earned in the current transaction. Annual yield is the rate of…
Q: The equation which reflects a CVP income statement is a. Sales - Variable costs - Fixed costs = Net…
A: Introduction:- CVP analysis is used to identify the changes in costs and volume affect a company's…
Q: ould you tell me the Implied cash flow from the changes in inventory, receivables and payables…
A: A financial document called the cash flow statement (CFS) outlines the inflow and outflow of a…
Q: Below were selected transactions of FDNACCT Services for the month of September: • Paid rent for the…
A: Cash is an asset account. Therefore, usual balance of cash account is a debit balance. So, the…
Q: A company sold 11,500 units last year for $21 each. Variable costs per unit were $2.00 for direct…
A: Lets understand the basics. Contribution margin per unit means a sales price per unit less variable…
Q: A cement manufacturer has supplied the following data: Tons of cement produced and sold Sales…
A: Total variable cost = Variable manufacturing expense + Variable selling and administrative expense…
Q: Fast Delivery is the world's largest express transportation company. In addition to the world's…
A: There are three golden rules in accounting to record the transactions: 1. Debit what comes in,…
Q: John Smith mistakenly expensed the cost of a long-term tangible fixed asset. Specifically, he…
A: Many accounting errors can occur that will not be found on the trial balance so financial…
Q: Any cost that is avoidable is relevant for decision purposes. O A. True O B. False
A: Relevant costs are those costs that are affected by the specific management decision being…
Q: John Corporation bases its overhead rate on direct labour hours. The expected direct labour hours at…
A: Direct labor refers to the wages and earnings paid to workers who are directly involved in the…
Q: Use the information in the table above .Given income from known sources, estimate the income from…
A: Income from unknown sources is defined as any income that is not clearly traceable to a specific…
What was the issue price per share of ordinary shares?
Step by step
Solved in 3 steps
- 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.Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for 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 Si00,000. (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.Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.
- 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.Stockholders 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.A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cash
- MacKenzie Mining Corporation is authorized to issue 50,000 shares of $500 par value 7% preferred stock. It is also authorized to issue 5,000,000 shares of $3 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.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.Selected stock transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 200,000 shares of common stock at 12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at 115. c. Purchased 175,000 shares of treasury common for 10 per share. d. Sold 110,000 shares of treasury common for 14 per share. e. Sold 30,000 shares of treasury common for 8 per share. f. Declared cash dividends of 1.25 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
- 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.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. $10,150