11. ABC Co. provided these data:5% Cumulative preferred shares, P50 parOrdinary Share capital, P10 parAdditional paid-in capitalRetained earnings (includes NI)Net income (NI)Market price per ordinary share12/31/1812/31/19P100,000 P100,000140,00080,000240,00060,0005090,00070,000215,000During 2019, ABC Co. issued 5,000 ordinary shares and was notable to declare preferred dividends. The book value per ordinaryshare at 12/31/2019 is calculated as

Book value per ordinary share is a financial metric that represents the value of a company's common…

Answered: 11. ABC Co. provided these data: 5%…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Shown below is information relating to the stockholders' equity of Robertson Corporation at December 31, 2022: 12% cumulative preferred stock, $150 par Common stock, $1.50 par Additional paid-in capital: preferred stock Additional paid-in capital: common stock Treasury stock (at cost: 6,000 common shares) Retained earnings Refer to the above data. How many shares of common stock are outstanding? O a. 600,000 O b. 406,000 O c. 594,000 O d. 394,000 $1,500,000 600,000 300,000 900,000 180,000 1,350,000
The information below pertains to Pierpont Corp. for 2020: Net income, $1,200,000. Common Stock, $10 par value per share, total par value $3,000,000. D% Convertible and Cumulative Preferred Stock, S100 par value per share, each share convertible into 3 shares of common stock. The preferred stock was issued in 2018. Total par value $4,000,000. 7% Convertible Bonds Payable, issued at face value of $1,000 per bond, in 2019. Each bond is convertible into 30 shares on common stock. Total face value $2,000,000. Stock options granted in 2019 to purchase 75,000 shares of common stock at $20 per share, none of which have been exercised to date. Income tax rate, 20%. Average market price of the common stock during 2020 was $25 per share. There were no changes during 2020 in the number of common shares outstanding, number of preferred shares outstanding, or number of convertible bonds outstanding. There are no treasury shares held by Pierpont. REQUIRED: 1. Calculate basic earnings per share for…
winter provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10% P50 par (noncumulative and nonparticipating) 1,000,000 Preference share capital, 8% P50 par (cumulative and nonparticipating) 1,500,000 Ordinary share capital, P100 2,500,000 Share premium 500,000 Retained earnings 600,000 Dividends have been paid on the preference share up to December 31, 2018. Book value per 8% preference share
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
At 31 December 2019, B Plc had post-tax profits was $2,500,000 and had an issued share capital of $2,000,000 comprising 2,000,000 ordinary shares of 50p each and 1,000,000 $1 10% preference shares that are classified as equity. Assume that the post-tax profits for 2018 and 2019 were same at $ 2,500,000. The time-weighted number of shares was as follows: No. of Shares Shares (nominal value 50p) in issue at 01 January 2019 2,000,000 Shares issued for cash at market price on 30 September 2019 1,000,000 On 30 September 2019, B plc made a right issue of one share for every two shares (i.e one new share for every two shares held) at $3.25 per share. The following information is also given for B Plc as at 31 December 2019: Share option in existence 1,000,000 shares issuable in 2020 at $3.25 per share. An average market price per share of $4%; 1. Convertible 8% preference shares of $1 each totaling $2,000,000 convertible at one ordinary share for every five convertible preference shares. 2.…

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