a)
Statement of
Journal: Journal is the method of recording monetary business transactions in chronological order. It records the debit and credit aspects of each transaction to abide by the double-entry system.
Rules of Debit and Credit:
Following rules are followed for debiting and crediting different accounts while they occur in business transactions:
- Debit, all increase in assets, expenses and dividends, all decrease in liabilities, revenues and stockholders’ equities.
- Credit, all increase in liabilities, revenues, and stockholders’ equities, all decrease in assets, expenses.
To Journalize: The transactions to deduce the missing amounts.
b)
To Prepare: The statement of retained earnings for Company B.
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INTERMEDIATE ACCT VOL.2>CUSTOM<
- N4 Refer to the Real Life Case of Chapter 19. Use financial statements (page 51) of Microsoft's 10-K for the fiscal year ended June 30 , 2019 (Source: SEC Edgar). The basic EPS of Microsoft for year 2019 is $5.11 , weighted average shares outstanding is 7,673 million shares, and share price is $134 . If the company had pre-announced and used all funds in its share repurchase program of $40 billion on June 30 , 2019, what would Microsoft's basic EPS have been for fiscal year 2019? a. $3.29 b. $5.06 c. $2.13 d. $5.32 e. $5.11arrow_forwardQ21 Significant influence is normally presumed to exist if the investor owns at least a certain percentage of the investee company's ordinary shares. This percentage is_____. Select one: a. 10% b. 51% c. 20% d. 50%arrow_forwardQ3 A 5% preferred stock at OMR 100 less cost of flotation 5% and cost of underwriting commission charges at 2%, what would be the cost of preferred stock, assume the corporate tax rate is 50%? a. 2.685% b. 5.37% c. 2.63% d. 5.15%arrow_forward
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