For the next two (2) questions:The following account balances relate to the stockholders' equity accounts of JKL Corporation at year-end:20222021Common stock, 16,000 and 14,000 shares,respectively, for 2022 and 2021 (P1 par value)Additional paid-in capital - CommonP160,000P140,000180,000210,000Preferred stock, 6,500 and 5,000 shares,respectively, for 2022 and 2021 (P5 par value)32,50025,000Additional paid-in capital - Preferred80,00050,00025,00030,000Additional paid-in capital - TreasuryRetained earnings300,000260,000Treasury stock30,00062,000In 2022, the following equity transactions occurred:Preferred stocks were issued for cash.A small stock dividend on common stock was declared and issued.Cash dividends of P25,000 were declared and paid.Treasury stock was also reissued for P10,000.5. How much is the net income or net loss in 2022? (Indicate if net income or net loss)6.The net cash flow to be included in the financing activities section of the company's statement of cash flows in2022 is: (Indicate if increase or decrease)

Cash Flow Statement It is important in the preparation of cash flow statement which are incurred…

Answered: 80,000 50,000 25,000 30,000 Additional…

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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The capital accounts of BHUTAN COMPANY on June 30, 2012, are as follows Ordinary shares, P10 par, 50,000 shares issued and outstanding P 500,000Share premium 250,000Retained earnings 3,135,000The company’s ordinary shares are selling at this time at P20.What entries would you make in each of the following cases?a. A 10% stock dividend is declared and issued.b. A 30% stock dividend is declared and issued.c. A 4-for-1 stock split is declared and issued.
For a recent 2-year period, the balance sheet of Corona December 31 (in millions). Additional paid-in capital Common stock Retained earnings Treasury stock Total stockholders' equity Common stock shares issued Common stock shares authorized Treasury stock shares 2020 Par value of common stock $960 540 7,230 1,824 $6,906 216 Cost per share of Treasury stock $ 500 38 2019 $825 535 5,270 868 $5,762 214 500 28 (a) Answer the following questions. (1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.) mpany (2) What is the cost per share of treasury stock at December 31, 2020, and at December 31, 2019? December 31, 2020 December 31, 2019 (b) Prepare the stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive information.) Coronado Company Balance Sheet (in millions of dollars) (Partial)
Holland Corporation's annual report is as follows. March 31, 2023 March 31, 2024 Net Income $359,000 $438,500 Preferred Dividends 0 0 Total Stockholders' Equity $4,230,000 $5,252,000 Stockholders' Equity attributable to Preferred Stock 0 0 Number of Common Shares Outstanding 288,000 202,000 Based on the information provided, find the rate of return on common stockholders' equity on March 31, 2024. (Round your final answer two decimal places.)
Stockholders' equity accounts, arranged aphabetically are the ledger of Pina Colada Corp. at December 31, 2020. Common Stock ($5 stated value) $1,675,000 Paid-in capital inexcess of par-preferred stock 279,000 Paid-in capital in excess of stated value-common stock. 936,000 Preferred stock (8%, $103 par) 489,250 Ratained Earnings 1,120,000 Treasury Stock (12,000 common shares) 144,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2020. *please solve and explain process. Thank you
Marlin, Incorporated, declared a cash dividend of $40,500 in 2022 when the following stocks were outstanding: Common stock 20,100 shares, par $15 $301,500 Preferred stock, 6%, 2,600 shares, par $10 26,000 No dividends were declared or paid during the prior year. Required: Compute the amount of cash that would be paid to each stockholder group under each of the following separate cases. Show the amount of current dividend and dividends paid in arrears wherever applicable. Case A The preferred stock is noncumulative. Case B The preferred stock is cumulative.
Analyzing and Computing Issue Price, Treasury Stock Cost, and Shares Outstanding Following is the stockholders' equity section of the 2018 Merck & Co. Inc. balance sheet. Stockholders' Equity ($ millions, except par value) 2018 Common stock, $0.50 par value; 6,500,000 authorized shares; 3,577,107,522 issued shares $1,789 Other paid-in capital 31,046 Retained earnings 34,063 Accumulated other comprehensive loss (4,436) Stockholders' equity before deduction for treasury stock $62,103 Less treasury stock, at cost: 984,543,979 shares Total Merck & Co. Inc. stockholders' equity 40,743 $21,360 a. Show the computation of the $1,789 million in the common stock account. shares x $ per share is approximately $ million on the balance sheet. b. At what average price were the Merck common shares issued? Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). per share c. At what average cost was the Merck treasury stock purchased? Note: Round your answers to two…
9. Home Co. reported the following amounts in the stockholders’ equity section of its balance sheet dated Dec. 31, 2021: Preference share capital (P150 par value, 20,000 shares) 3,000,000 Ordinary share capital (P37.50 par value, 100,000 shares) 3,750,000 Share premium reserve 6,000,000 Accumulated profits 4,500,000 Treasury stock, at cost (5,000 ordinary shares) 250,000 On January 2, 2022, Home sold 20,000 additional shares of ordinary share for P90 per share. Late in 2022, it was learned that because of mathematical error, an overstatement of depreciation expense by P375,000 had occurred in 2015. Home reported net income of P825,000 for 2022. Home declared cash dividends of P150,000 on preference share and P450,000 on the ordinary…
On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. $ 241,000 482,000 195,000 1,950,000 3,900,000 20,500 Common stock, $1 par, 241,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 19,500 shares outstanding Retained earnings Treasury stock, at cost, 4,100 shares During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 20: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Shareholders' equity Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend…
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 % %
On June 30, 2021, when ABC Co. stock was selling for $65 each, the equity accounts had the following balances: Common Stock ($50 par value, 50,000 issued) $2,500,000 Capital Contributed in Excess of Par Value—Common Stocks 600,000 Retained Earnings 4,200,000 How much will the Common Stock account balance be after declaring and distributing a 100% stock dividend? a. $5,000,000. b. $7,300,000. c. $2,500,000.
Ex8: A company was organized in January 2016 and has 15,000 shares of $12 par value, 20%, nonparticipating preferred stock outstanding and 50,000 shares of $7 par value common stock outstanding. It has declared and paid cash dividends each year as shown below. Calculate the total dividends distributed to each class of stockholder under each of the assumptions given. 2016 2017 $20,000 $30,000 $60,000 2018 Required: Complete the amount of total dividends allocated to each class of stock during 2016-2018. Cumulative: Year Preferred Common 2016 2017 2018. Non-Cumulative: Year Preferred Common 2016 2017 2018 To calculate the total dividends distributed to each class of stockholder under each assumption, we need to consider whether the preferred stock is cumulative or non-cumulative. Here are the calculations for both scenarios: 1. Cumulative Preferred Stock: Year 2016:
Lenore, Inc. declared a cash dividend of $90,000 in 2021 when the following stocks were outstanding: Common stock 30,000 shares, $5 par value $150,000 Preferred stock, 6%, 6,000 shares, $50 par value $300,000 No dividends were declared or paid during the prior two years. Required: Compute the amount of dividends that would be paid to each stockholder group if the preferred stock is noncumulative. Compute the amount of dividends that would be paid to each stockholder group if the preferred stock is cumulative.

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