9. The following data pertain to BUENO Corporation:Redeemable Preference Share Capital, P100 par;5,000 shares issued and outstandingPreference Share PremiumRetained EarningsP500,00050,000100,000June 5 Redeemed and retired 500 preference shares at P150 per share.30 Redeemed and retired 500 preference shares at P90.Direction: a) Journal entriesb) Prepare the shareholders' Equity Section as of June 30.

The objective of the question is to provide the journal entries for the redemption and retirement of…

Answered: 9. The following data pertain to BUENO…

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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Capitalization Amount is $64,800. Cost per share is $13.33 Looking for Net inocme
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Can you answer dividend per share (b.) The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 170,000 shares authorized, 47,000 shares issued and outstanding $ 705,000 Common stock, $12 stated value, 220,000 shares authorized, 47,000 shares issued and ?? shares outstanding 564,000 Paid-in capital in excess of par—Preferred 37,000 Paid-in capital in excess of stated value—Common 141,000 Total paid-in capital $ 1,447,000 Retained earnings 320,000 Treasury stock, 3,000 shares (33,000 ) Total stockholders’ equity $ 1,734,000 Note: The market value per share of the common stock is $26, and the market value per share of the preferred stock is $19. Required What is the dividend per share on the preferred…
XYZ Company sold 4,500 shares of treasury stock (from(c)) at $52 per share. DATE Debit Credit X/X
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: Record on journal page 10: Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 16 Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. 26 Paid the cash dividends declared on May 16. Jun. 8 Purchased 8,000 shares of treasury common stock at $33 per share. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Jul. 11 Paid the cash dividends to the preferred…
A corporation purchases 9,515 shares of its own $10 par common stock for $18 per share, recording it at cost. What will be the effect on total stockholders' equity? a.decrease by $171,270 b.increase by $171,270 c.decrease by $76,120 d.increase by $76,120
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XYZ Company sold 500 shares of treasury stock (from (c)) at $45 per share. DATE Debit Credit X/X

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