6. The trial balance of Diamante Corporation as of Dec. 31, 2018, contained the following selected balances: a. 17% Notes Payable, due May 1, 2020 b. Allowance for Uncollectible Accounts P 4 000 000 60 000 c. Ordinary Shares, no-par, P20 stated value; 300 000 shares 6 000 000 d. Retained Earnings-Unappropriated e. Cash Dividends, Payable (declared Dec. 15 on preference f. Appropriation for Pending Litigation 500 000 14 000 600 000 g. 6% Preference Shares, P200 par, 3 000 shares authorized, issued and outstanding h. Donated Capital i. Share Premium-Preference 600 000 400 000 10 000 Required: Present the shareholders’ equity section of the statement of financial position as of Dec. 31, 2018.

6. The trial balance of Diamante Corporation as of Dec. 31, 2018, contained the following selected balances: a. 17% Notes Payable, due May 1, 2020 b. Allowance for Uncollectible Accounts P 4 000 000 60 000 c. Ordinary Shares, no-par, P20 stated value; 300 000 shares 6 000 000 d. Retained Earnings-Unappropriated e. Cash Dividends, Payable (declared Dec. 15 on preference f. Appropriation for Pending Litigation 500 000 14 000 600 000 g. 6% Preference Shares, P200 par, 3 000 shares authorized, issued and outstanding h. Donated Capital i. Share Premium-Preference 600 000 400 000 10 000 Required: Present the shareholders’ equity section of the statement of financial position as of Dec. 31, 2018.

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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Note: RP AND IDR The book I use: Intermediate Accounting, Kieso, ifrs Edition, Fourth Edition Questions in image
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D1. Account
Blabla Grocery Inc., reported the following financial information on December 31, 2019: Common shares issued and outstanding throughout 2019 700,000 shares 6% nonconvertible cumulative preferred shares capital $450,000 Retained Earnings on January 1. 2019 $3,500,000 Basic EPS for 2019 $0.99 per share In addition, the company did not declare any dividends for either 2018 or 2019. The amount which the company would report as Retained Earnings on December 31, 2019 would be: Select one: a. $673,000. b. $693,000. c. $4,220,000. d. $4,173,000. e. $4,166,000.
Tamarisk Corporation's adjusted trial balance contained the following accounts at December 31, 2020: Retained Earnings $126,000, Common Stock $765,600, Bonds Payable $109,700, Paid-in Capital in Excess of Par-Common Stock $208,700, Goodwill $59,300, Accumulated Other Comprehensive Loss $154,700, and Noncontrolling Interest $34,200. Prepare the stockholders' equity section of the balance sheet.
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31. Closed the credit balance of the income summary account, $269,400. 2. Journalize the entries to record the transactions, and post to the eight selected Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. listed. Also prepare T accounts for the following: Paid-In Capital from Sale cf July 1. Declared a 4% stock dividend on common stock, to be capitalized at the 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts FROBLEM 12-4B Btries for selected oporate transactions Objectives 4, 5, 7, 8 Shoshone Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Shoshone Enterprises Inc., with balances on January 1, 2006, are as follows: Common Stock, $20 stated value (100,000 shares authorized, 75,000 shares issued) Paid-In Capital in Excess of Stated Value Retained Earnings.. Treasury Stock (5,000 shares, at cost) $1,500,000 180,000 725,000 140,000 ADNET ASS The following selected transactions occurred…
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.
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Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume that the preferred shares are non-cumulative. Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse Current assets $ 26,760 40,200 11,140 22,280 9,400 20,600 Required: Prepare a classified balance sheet at December 31, 2023. (Enter all amounts as positive values.) Assets 122,000 79,400 41,600 127,600 34,600 110,200 40,200 28,720 282,100 138,800 SPICER INC. Balance Sheet December 31, 2023 K
ine following intormation pertains tO Alpha Computing at the ena of 2021: Assets $957,500 $452,500 $270,000 $330,000 Liabilities Net Income Common Stock Alpha Computing's Retained Earnings account had a zero balance at the beginning of 2021. What amount of dividends did the company declare 2021? Multiple Choice $96,000 $97,000 $98,000 $95.000