PROBLEM 11MERRY Corporation's had the following balances on January 1, 2023:Ordinary Shares, P100 par value (28,000 issued shares)Share premium in-excess of par - Ordinary Shares10%, Preference Shares, P150 par value (12,000 issued and outstanding)Share premium in-excess of par - Preference SharesRedeemable Preference SharesTreasury Shares - Ordinary Shares (repurchased 3,000 at P120)Bond Conversion PrivilegeRetained Earnings*Note there are no other equity items, aside from those listed above.P2,800,0001,200,0001,800,000600,0001,000,000360,000200,000950,000The following transactions took place during 2023:• On March 6, 2023, MERRY issued 10,000 Ordinary Shares for P152.• On April 22, 2023, MERRY repurchased 5,000 of the company's own Ordinary Shares for P130.• On June 27, 2023, MERRY issued a 4-for-2 share split on its Ordinary Shares• On September 30, 2023, NY Corporation subscribed 5,000 of MERRY Corporation's Ordinary shares for P135. No downpayment was made.On December 25, 2023, a shareholder donated 1,000 of MERRY's own ordinary shares back to the corporation.• On December 27, 2023, MERRY declared a P2.50 dividends to Ordinary Shareholders and P30.00 dividends to Preference Shareholders, payable on January 8, 2024.• Net income during 2023 amounts to P545,000.Questions:1. The shareholder's equity on January 1, 2023 amounts to2. The number of Merry's ordinary shares outstanding as of December 31, 2023 amounts to3. How much is Merry's legal capital on December 31, 2023 amounts to4. How much is the balance of contra-equity accounts as of December 31, 2023?5. How much is the net increase/(decrease) in equity due to the subscription of NY on September 30, 2023?6. The total amount of share premium as of December 31, 2023 amounts to7. How much dividends payable should be recognized on December 31, 2023?8. How much is the shareholder's equity balance as of December 31, 2023?

The shareholder’s equity on January 1, 2023, is the sum of all equity items listed above. So, it’s…

Answered: 1. The shareholder's equity on January…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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ABC Company was incorporated on January 1,2021. The following are the ordinary share transactions during the year: Jan. 1 number of shares authorized 85,000 Feb. 2 number of shares issued. 65,000 June 1 number of shares reacquired but not retired 5,000 Dec 1 2 for 1 share split What is the number of ABC Corp.’s ordinary share outstanding at December 31, 2020? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): 100,000
For part 2 of this question, how would I be able to solve for the amount ending balance in retained earnings? I believe I would need this number in calculating total shareholder's equity. If you could share the way you found the number, that would be great as well! Thank you!
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,460,000, $152,000 in the common stock account, and $2,770,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed long-term debt of $1,700,000, $162,000 in the common stock account and $3,070,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $100,000 and the company paid out $157,000 in cash dividends during 2022. The firm's net capital spending for 2022 was $1,080,000, and the firm reduced its net working capital investment by $137,000. What was the firm's 2022 operating cash flow, or OCF? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Operating cash flow Prev 9 of 10 ▬▬▬ ‒‒‒ Next >
How much is the total shareholders' equity at year-end?What is the number of outstanding ordinary shares? What is the number of outstanding preference shares?
On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical's equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the stockholders' equity if all but 60,000 share rights were exercised? 1,300,000 increase 1,800,000 increase 2,100,000 increase no change What is the effect on the stockholders' equity as a results of the issuance of stock rights? 200,000 increase no change…
The following financial information is available for Wildhorse Corporation. (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income Payout ratio 2022 Return on common stockholders' equity $2,526 $2,608 298 40 504 2021 2022 635 Calculate the payout ratio and return on common stockholders' equity for 2022 and 2021. (Round answers to 1 decimal place, e.g. 12.5%.) 40 556 % % 2021 % %
How many are the ordinary shares outstanding after reflecting the foregoing transactions for the year 2019? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
The following accounts appear in the ledger of AlicoCorporation after the books are closed at December 31, 2019. Common Stock, $2 par value, 700,000 shares authorized, 400,000 shares issued …………………………………………………………………………$800,000 Paid-in Capital in Excess of Par Value—Common Stock ………………….....650,000 Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 2,000 shares issued …………………………………………………………………………..200,000 Retained Earnings ……………………………………………………………..900,000 Treasury Stock (10,000 common shares) ………………………………………85,000 Paid-in Capital in Excess of Par Value—Preferred Stock …………………….310,000 Required: Prepare the stockholders' equity section at December 31, 2019.
On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the…
3. How much is the TOTAL subscribed share capital (assuming subscriptions receivable is collectible on January 5, 2022)? 4. How much is the TOTAL share premium?
Use the information given to fill out balance sheet completely
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