Screenshot 2023-12-01 142531

Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…

4

. Exercise 12-20 (Algo) Equity method; purchase; Investee Income; dividends [LO12-6] As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 25% of Nursery Supplies Incorporated's 10 million shares for $65 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $24 million and distributed cash dividends of $0.80 per share. At the end of the year, the fair value of the shares is $61 million. Required: Prepare the appropriate journal entries from the purchase through the end of the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet < 1 2 3 4 Record the investment in Nursery Supplies shares.

Requires all parts

Question 17, P1-9 (book/static) > Part 1 of 5 Interest versus dividend income Depot Logistics Inc. has declared pretax income from its operations for the year of $560,000. In addition, it also received an interest payment of $40,000 on bond stock held in Warehouse PLC. During the year. they also received $40,000 in income from dividends on its 20% common stock holding in Zephir PLC. Depot Logistics is a. Calculate the tax liability for Depot Logistics on its operating income. b. Calculate the tax and after-tax income attributable to the interest income received on account of bond stock, from Warehouse PLC. c. Find the tax and after-tax income owing to the dividend income received on account of common stock, from Zephir PLC. d. Compare and comment on the after-tax amounts resulting from the interest income and dividend income calculated in part b and c. e. What is the firm's total tax liability for the year? the 30% tax bracket and is eligible for a 70% dividend exclusion on its Zephir…

Question 12 of 14 View Policies Current Attempt in Progress Blue Corporation earned net income of $402.040 in 2025 and had 95,000 shares of common stock outstanding throughout the year. Also outstanding all year was $850,000 of 5% bonds, which are convertible into 16,000 shares of common. Blue's tax rate is 30 percent. Compute Blue's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55) Diluted earnings per share < eTextbook and Media Save for Later $

Chapter 11 Comprehensive Problem – CP11-11 The following note appeared on the balance sheet of Sabre Rigging Limited: As of December 31, 2019, dividends on the cumulative preferred stock were in arrears for three years to the extent of $15 per stock or $15,000 in total. Required: 1.Does the amount of the arrears appears as a liability on the December31, 2019 balance sheet? Explain your answer. Why might the dividends be in arrears? The comptroller of Sabre Rigging projects net income for the2020 fiscal year of $35,000. When the company last paid dividends, the directors allocated 50 per cent of current year’s net income for dividends. If dividends on shares of preferred stock are resumed at the end of 2020 and the established policy of 50 per cent is continued, how much will be available for dividends to the common stockholders if the profit projection is realized?

Question Content Area Exercise 7-18 (LO. 2) On August 27 of the current year, Bailey Corporation exchanged $25,000 of 4% interest-bearing bonds for 100 shares of its common stock worth $300 per share. If your answer amount is zero, enter "0". a. Does this transaction qualify as a nontaxable reorganization? If so, what is its type?   b. What is the gain realized by the bondholders on the exchange?$fill in the blank 2 c. What is the gain recognized by the bondholders on the exchange?$fill in the blank 3 d. What is the basis in the stock that was received?$fill in the blank 4

Shj.4

Problem 2 The shareholders' equity of Tony Corporation revealed the following on June 30, 2018: Preference share, P100 par vale Preference share premium Ordinary share, P15 par value Ordinary share premium Ordinary share subscribed Retained earnings Notes payable Subscriptions receivable - ordinary P230,000 80,500 525,000 275,000 5,000 190,000 400,000 40,000 28. How much is the legal capital? 29. Using the data in problem #2, how much is the additional paid in capital? 30. Using the data in problem #2, how much is the total shareholders' equity? Problem 3 A corporation declared a 40% share dividend on its 60,000 shares of P20 par ordinary shares on a day when the market price is P50. 31. How much was debited to retained earnings on the date of declaration? 32. Using information in problem #3, what is the peso dividend per ordinary share? 33. Using information if problem #3 and assuming the share capital dividend declared is 4/40, what is the share premium from stock dividends?

Exercise 15-14 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 67,000 shares of Grecco Company common stock for $576,000 cash. Grecco has 201,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $1.00 per share. December 31 Grecco announced that net income for the year is $515,400. Year 2 June 1 Grecco declared and paid a cash dividend of $1.50 per share. December 31 Grecco announced that net income for the year is $747,900. December 31 Kodax sold 14,000 shares of Grecco for $180,eee cash. Prepare journal entries to record the above transactions and events of Kodax Company. Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount. View transaction list No 1 2 View journal entry worksheet Date January 2, Year 1 Equity method investments Cash…

34 yet wered nts out of 10 Flag question Straightarm Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/24 and 12/31/25 contained the following errors: • Faded to record Unearned Revenue at 12/31/25: $7,000 Straightarm declared a cash dividend of $11,000 on 12/31/25. No journal entry was made in 2025 The dividend was paid on 1/3/26; Straightarm debited Retained Earnings and credited Cash 12/31/25 Total Assets are in error by Select one: O a $42.000 Ob. $18,000 OC $36.000 2024 2025 Ending inventory $15,000 understatement $24,000 overstatement Depreciation expense 6.000 understatement 12,000 understatement Od $39,000 Oe $57,000

Question 46 During 2021, Stout Inc. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Stout, ​ converted into common shares of Stout $ 540,000  Payment in 2021 of cash dividend declared in 2020 to ​ preferred shareholders 279,000  Payment for the early retirement of long-term bonds payable ​ (carrying amount $3,930,000) 3,975,000 Proceeds from the sale of treasury stock (on books at cost of $387,000) 450,000 The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2021 should be     $3,264,000.     $2,985,000.     $3,822,000.     $3,804,000.

question 4 attached in ss before thanks for hepl aprpeciated it 1ij 14j

Problem 18-5 (Algo) Shareholders' equity transactions; statement of shareholders' equity; financial statement effects [LO18-6, 18-7, 18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: Common stock, 112 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $ 112,000 672,000 910,000 a. November 1, 2024, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.8 million, but were purchased two years previously for $2.4 million. Because they were intended to be held to maturity, the bonds had not been…

Hello tutor answer the accounting question step by step and correct

What are the company's earnings per share each year?   Please don't provide answer in image format thank you

1 16 On January 1, 2024, Clor-Proell Enterprises bought 20% of the outstanding common stock of Chen Construction Company for $600 million cash. Chen's net income for the year ended December 31, 2024, was $300 million. During 2024, Chen declared and paid cash dividends of $60 million. Clor-Proell recorded the investment as follows: points PURCHASE General Journal ($ in millions) Debit Credit Investment in Chen Construction shares Cash 600 600 eBook NET INCOME Investment in Chen Construction shares (20% x $300 million) 60 Investment revenue 60 DIVIDENDS Hint Cash (20% x $60 million) 12 Investment in Chen Construction shares 12 Required: Print References What would be the pretax amounts related to the investment that Clor-Proell would report in its statement of cash flows for the year ended December 31, 2024? Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign. Operating activities $ 600 Investing activities…

Discussion Question 17-11 (LO. 2) Marmot Corporation pays a dividend of $100,000 in the current year. Otter Corporation, a calendar year C corporation, owns 15% of Marmot's stock. Gerald, an individual taxpayer in the 24% marginal bracket, also owns 15% of Marmot's stock. Compare and contrast the treatment of the dividend by Otter Corporation and Gerald. Use the attached dividend deduction. a.  Otter Corporation will be allowed a dividends received deduction  equal to 50% of the dividends it received. It will pay tax of fill in the blank % on the remaining portion  of the dividends.

22

Exercise 12-20 (Algo) Equity method; purchase; investee income; dividends [LO12-6] As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 25% of Nursery Supplies Incorporated's 8 million shares for $62 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $48 million and distributed cash dividends of $2.50 per share. At the end of the year, the fair value of the shares is $58 million. Required: Prepare the appropriate journal entries from the purchase through the end of the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10). No 1 2 3 4 Transactions 1 2 3 4 X Answer is not complete. General Journal Gain on investment (NI) X Cash Cash Debit 62✔ 12✔ 20 x 2 x Credit 62 12✔ 20 x 2 x

EXERCISE 8 The Dark Red Company, which started operations in 2018, paid dividends at the end of 2018,2019 and 2020 as follows: 2018- P 150,000; 2019-P 260,000; 2020-P 540,000 Through these years, the corporation has 250,000 shares of P 10 par value ordinary share and 20,000 shares of 9%, 100 par value preference share. REQUIRED: Compute the amount of total dividends and dividends per share at the end of 2018,2019 and 2020, on both preference and ordinary share under each of the following assumptions: a.) Preference share is non-cumulative and non-participating. b.) Preference share is cumulative and non-participating. c.) Preference share is cumulative and fully participating.

h4

Please do not give solution in image format thanku

Problem 16-12 (IAA) During 2020, Reminiscent Company bought shares of another entity to be held for trading. June December 1 1 20,000 shares @ P100 30,000 shares @ P120 2,000,000 3,600,000 Transactions for 2021 January 10 Received cash dividend at P10 per share. Received 20% share dividend. December 10 Sold 30,000 shares at P125 per share. January 20 1. What is the gain on sale of investment using the FIFO approach? a. 1,150,000 b. 950,000 150,000 550,000 с. d. 2. What is the gain on sale of investment using the average approach? а. 950,000 b. 750,000 c. 800,000 d. 900,000 3. What total amount should be reported as income from the investment using the FIFO approach? a. 1,650,000 b. 1,450,000 c. 1,750,000 d. 500,000