INTERMEDIATE ACCOUNTING-MYACCOUNTINGLAB
3rd Edition
ISBN: 9780136946533
Author: GORDON
Publisher: PEARSON
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Chapter 15, Problem 15.16E
a.
To determine
To prepare:
b.
To determine
To prepare: The statement of shareholders equity at the end of the year.
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Ute Company reported the following capital structure during the current year:
5% cumulative preference share capital, par value P100, 25,000
shares issued and outstanding
Ordinary Share capital, par value P35, 100,000 shares issued and
outstanding
The entity reported net income of P5,000,000 for the current year.
The entity paid P125,000 in preference dividends in the current year.
7. What amount should be reported as the basic earnings per share?
a. 48.75
b. 50.00
c. 51.25
2,500,000
3,500,000
An entity provided the following information at year-end:
Preference share capital, at par
2,000,000
Ordinary share capital, at par
3,000,000
Share premium
1,000,000
Sales
10,000,000
Total expenses
7,800,000
Treasury shares at cost – ordinary
500,000
Dividends
700,000
Retained earnings – beginning
1,000,000
What total shareholders’ equity should be reported at year-end?
The following partial Information is taken from the comparative balance sheet of Levi Corporation:
Shareholders' equity
Common, stock, $5 par; 20 million shares
authorized; 15 million shares issued
and 9 million shares outstanding at 12/31/2021;
12/31/2021
12/31/2020
and
million shares issued
and
shares outstanding at 12/31/2020.
Additional paid-in capital on common stock
Retained earnings
$ 75 million
520 million
197 million
$ 45 million
392 million
157 million
Treasury common stock, at cost, 6 million
shares at 12/31/2021 and 4 million
shares at 12/31/2020
(72 million)
(50 million)
Total shareholders' equity
$720 million
$544 million
How many of Levi's common shares were outstanding on 12/31/2020?
Multiple Choice
9 million.
22 of 39
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Chapter 15 Solutions
INTERMEDIATE ACCOUNTING-MYACCOUNTINGLAB
Ch. 15 - Prob. 15.1QCh. 15 - What are the retained earnings of a firm?Ch. 15 - Prob. 15.3QCh. 15 - Prob. 15.4QCh. 15 - Does an entity have to legally dissolve treasury...Ch. 15 - Prob. 15.6QCh. 15 - Prob. 15.7QCh. 15 - Prob. 15.8QCh. 15 - Prob. 15.9QCh. 15 - Prob. 15.10Q
Ch. 15 - Prob. 15.11QCh. 15 - Do firms often use stock dividends to avoid...Ch. 15 - Prob. 15.13QCh. 15 - What is included in other comprehensive income?Ch. 15 - Is a specific format required for reporting...Ch. 15 - Prob. 15.16QCh. 15 - Boone Corporations outstanding capital stock on...Ch. 15 - Prob. 15.2MCCh. 15 - Prob. 15.3MCCh. 15 - Prob. 15.4MCCh. 15 - Prob. 15.5MCCh. 15 - Prob. 15.6MCCh. 15 - Prob. 15.7MCCh. 15 - Prob. 15.1BECh. 15 - Stockholders Equity Terminology, U.S. GAAP, IFRS....Ch. 15 - Common Stock Issuance, No Par Value. Perdido...Ch. 15 - Prob. 15.4BECh. 15 - Prob. 15.5BECh. 15 - Prob. 15.6BECh. 15 - Prob. 15.7BECh. 15 - Prob. 15.8BECh. 15 - Treasury Stock Transactions. Ginger Spice...Ch. 15 - Treasury Stock Transactions. On March 15, Chief...Ch. 15 - Treasury Stock Transactions, Retirement. Using the...Ch. 15 - Prob. 15.12BECh. 15 - Prob. 15.13BECh. 15 - Prob. 15.14BECh. 15 - Common Stock Issuance, Stated Value, Issue Costs....Ch. 15 - Common Stock Issuance. Par Value, Issue Costs,...Ch. 15 - Prob. 15.3ECh. 15 - Prob. 15.4ECh. 15 - Treasury Stock Transactions, Retirement,...Ch. 15 - Prob. 15.6ECh. 15 - Treasury Stock Transactions. Several years ago,...Ch. 15 - Prob. 15.8ECh. 15 - Prob. 15.9ECh. 15 - Prob. 15.10ECh. 15 - Prob. 15.11ECh. 15 - Preferred Stock Issuance Dividends, Disclosure....Ch. 15 - Prob. 15.13ECh. 15 - Prob. 15.14ECh. 15 - Prob. 15.15ECh. 15 - Prob. 15.16ECh. 15 - Prob. 15.17ECh. 15 - Prob. 15.18ECh. 15 - Prob. 15.19ECh. 15 - Prob. 15.20ECh. 15 - Prob. 15.21ECh. 15 - Prob. 15.1PCh. 15 - Prob. 15.2PCh. 15 - Prob. 15.3PCh. 15 - Prob. 15.4PCh. 15 - Prob. 15.5PCh. 15 - Prob. 15.6PCh. 15 - Prob. 15.7PCh. 15 - Prob. 15.8PCh. 15 - Prob. 15.9PCh. 15 - Prob. 1JCCh. 15 - Judgment Case 2: Impact of Judgment in Accounting...Ch. 15 - Prob. 1SSCCh. 15 - Prob. 1BCCCh. 15 - Prob. 2BCC
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