ABC Company canceled 5,000 shares of P25 par value held in treasury at an average cost of P130 per share. Before the cancellation of the treasury shares, the entity had the following shareholders’ equity   Share capital 625,000 Share premium 750,000 Retained earnings 900,000 Treasury shares, at cost.   650,000

Q: On January 5, the Daisy Corporation issued 15,000 shares of $50 par, 7% Preferred Stock at $53 per…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: earnings per share presented in the financial statement

A: Cumulative Preference Shares are those shares which mandates an entity to pay all dividends…

Q: 't relevant because the shareholders will demand shares equal to the market value of the and…

A: Shares is the liability of the firm and assets for the investors because firm have to pay amount and…

Q: Jackson & Company has no-par value common stock outstanding that is selling at $60 per share. The…

A: Treasury stock = 14,000 x 60 = 840,000 Therefore, Equity decreases by 840,000 and Cash decreases by…

Q: Papasa Ka Sa Quali Corporation earned P540,000 during the year. The shareholder’s equity is composed…

A: The dividend is declared to the shareholders from the retained earnings of the business. The…

Q: 2021 statement of financial position of

A: Share refers to the portion held by the shareholder from the total share capital. The holder of the…

Q: Eunice Company provided the following information:   Dividends on 1,000 cumulative preference…

A: Retained earnings: The retained earnings contain the net income that is retained after distributing…

Q: On July 1. 2021, Funk Company has 400.000 shares of P25 par ordinary outstanding and the market…

A: Cost per treasury stock = Total costs / no. of treasury stock = P1650000/(50000*5) shares = P6.6 per…

Q: The following information pertains to A Company: • Dividends on its 1,000 shares of 6%, $10 par…

A: An appropriation is a discretionary reclassification of retained earnings. Its purpose is to…

Q: The 400 shares of General Mills stock bought at $81.00 were sold at $60. Commission is omitted. What…

A: Company : General Mills No.of Shares bought = 400 Buy Price =$81 Sell Price = $60

Q: None

A: Step 1: ItemsBefore dividend and splitAfter stock dividendAfter stock splitACommon stock…

Q: At year-end, XYZ Company canceled 1,000 shares of P10 par value held in treasury at an average cost…

A: Number of shares issued after cancelation of the treasury share = Beginning Number of shares issued…

Q: The Irish Lontoc Corporation was authorized to issue 150,000 no-par value common shares. There were…

A: Treasury stock- is the stock owned by the company of it's own shares. On cancellation of treasury…

Q: Kingbird, Inc. began business by issuing 390000 shares of $5 par value common stock for $24 per…

A: The total paid in capital includes the total value of shares issued to the shareholders. The…

Q: Swarten AG issued 500 shares of no-par ordinary shares for €8,000. Prepare Swarten’s journal entry…

A: Journal entries are defined as recording of the business transactions into the books of accounts of…

Q: A company acquired 97,000 shares of its common stock at a price of $26 per share and accounted for…

A: Treasury stock: It refers to the own stock bought back from the existing stockholders. As a result…

Q: On July 1, Davidson Corporation had the following capital structure: $ 756,000 970,000 Common stock…

A: The stock split means The company splits its existing stock price and splits the company's existing…

Q: Boston Lumber is unlevered with 222 shares outstanding and earnings before interest and taxes, or…

A: Calculation of Boston Lumber's EPS after the partition.

Q: 6. Accounting for Treasury Stock On 5 June 2023 Arsenal Company reacquired 800,000 of its common…

A: Treasury shares are those type of shares which are being reacquired by the company from its…

Q: Compute for the balance of share premium account immediately after the retirement of the shares?

A: The shares are acquired and retired and thus the common stock account and share premium account…

Q: equity non shar tha carrying amount of $824,000, with 82,400 common shares issued and retained…

A: Cash dividend: A payment made by a company paid out in cash to its shareholders as a portion of the…

Q: Villanueva Corp.'s statement of financial position reported the following shareholders' equity: 5%…

A: The objective of the question is to calculate the book value per share of ordinary shares for…

Q: Black and White Corp.’s balance sheet shows total assets of P3,000,000 and total liabilities of…

A: When the company decides to discontinue its operations it is known as liquidation. It can be a…

Q: Ace Hardware Inc has the following information: • Dividends on its 10,000 cumulative preference…

A: Retained Earnings The calculation of retained earnings is added the net earning which are incurred…

Q: Ashante Sports Collections Ltd. (ASCL) ended 20X5 with 820,000 common shares outstanding, after…

A: EPS stands for Earnings Per Share which states that how much amount the business makes for every…

Q: ABC Cor. reported P3,000,000 of ordinary share capital and P4,500,000 of additional paid-in capital…

A: Book value per share = Value of share capital excluding additional paid in capital /  Number of…

Q: AC3220 Inc. has $500,000, $0.60, no par value preferred shares (50,000 shares) and $1,000,000 of no…

A: Preferred Shareholders have two preferential rights over Common Shareholders.Firstly, the preferred…

Q: Martinez Corp, has issued 94,000 shares of $4 par value common stock. It was authorized 500,000…

A: Equity shareholders are the owners of the companies that hold shares or stocks. It helps investors…

Q: Family Corporation declared a 30% stock dividend on 400,000 shares of $5 value common stock…

A: The stock dividend is declared from the retained earnings of the business. The stock dividend lower…

Q: The market value of Yeates Corporation's common stock had become excessively high. The stock was…

A: 4-for-1 Stock split means, the stockholder will have 4 shares, after the split takes place for every…

Q: None

A: Return on common share equity:The return on common share equity is popularly known as the ROCE. It…

Q: XYZ Company issued 10,000 shares of 5% preferred stock with a par value of $5 per share when the…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

Q: Be Happy Corp. had 300,000 common shares issued and outstanding on January 1, 2028 with a value of…

A: Treasury stock is a  contra account to the common stock account that shown as negative item in…

Q: Rich Ltd. declares a 3 for 1 stock split on its class A common shares. There are 12,000,000 shares…

A: The stock split is a method of increasing the number of outstanding shares by decreasing the value…

Q: FFF Corporation has the following details for its shareholders’ equity:      6% Preference Shares…

A: Preferred dividend :— It is calculated by multiplying face value of preferred stock with dividend…

Q: The pro-rata payment to stockholders on the peso is

A: Pro-rata payment to stockholders = Estimated amount to be recovered by stockholders ÷ Stock…

Q: Record the treasury stock transactions (given above) under the cost method

A: Given that  Cash    262200 common stock = 230000 paid in capital excess of par = 32200

Q: Harvey Corporation shows the following in the shareholders' equity section of its statement of…

A: Given, Stated value = $0.25  Total balance in common stock account = $50,000 Shares repurchased =…

Q: Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and…

A: Preferred Shareholders have two preferential rights over Common Shareholders.Firstly, the preferred…

Q: e of $100,000 in the con

A: When the shares are re acquired , the treasury stock account is debited and cash is credited .The…

Q: Calculate the total preferred stock interest on January 1, 20X1. Please show your work

A: Preferred stocks are given priority at the time of bankruptcy, A fixed rate of dividend is paid to…

Q: 17. The balance of the no par value common share account for Patrice Company was $240,000,000…

A: Stock-Split: When a company declares a stock split, the number of shares of that company increases,…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.