Malie bought 100 common shares of Gainsway Company on October 31,2017 at P50 per share. On December 15, 2017 she received 25% stockdividend of common shares. On January 20, 2018, she sold the stockdividends at P30 per share.How much is the gain or loss on the sale of the stock dividends?P (250)750aC.b.250d.3,750CS Scanned with CamScanner3.

Total number of common shares after stock dividend = 100 shares + 25% = 125 shares Total cost of 125…

Answered: 3. Malie bought 100 common shares of…

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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5 MC Questions On 1 July 2019, Peter Limited acquired all the issued shares of Kerri Limited for $100 000 when the equity of Kerri Limited consisted of: Share capital $70 000 Retained earnings 30 000 The pre-acquisition entry at 1 July 2019 is: a. Shares in Kerri Limited Dr 100 000 Retained earnings Cr 30 000 Share capital Cr 70 000 b. Retained earnings Dr 30 000 Share capital Dr 70 000 Shares in Kerri Limited Cr 100 000 c. Retained earnings Dr 70 000 Share capital Dr 30 000 Shares in Kerri Limited Cr 100 000 d. Goodwill Dr 30 000 Share capital Dr 70 000 Shares in Kerri Limited Cr 100 000
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#16On December 1, 2019, Ceniza corporation received a donation of 3,000 shares of its P50 parvalue ordinary shares from a shareholder. On that date, the share’s market value was 350per share. The stock was originally issued for P250 per share. By what amount would thisdonation cause total shareholder’s equity to decrease? 0 pls provide the correct solution for the given answer
Z acquired a 30% interest in K Cor. K declared $200,000 dividends in 2016 and reported its income for $500,000. T's Investment in K account for 2016 should increase by $---- O a. $90000 O b. $150000 Oc $300000 Od. $200000
A2
Rr.19.a
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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…
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