APL Corporation's records included the following stockholders' equity accounts Preferred Shares, par value P150, authorized shares 20,000 shares P. 1,875,000 Share Premium -Preference shares 375,000 Ordinary Shares, P50 par, 100,000 shares authorized 2,000,000 Share Premium Ordinary Shares 1,200,000 Retained Earnings 2,500,000 Treasury Stock, 5,000 shares of Ordinary 475,000 Shares 1. Compute for the number of outstanding shares of

APL Corporation's records included the following stockholders' equity accounts Preferred Shares, par value P150, authorized shares 20,000 shares P. 1,875,000 Share Premium -Preference shares 375,000 Ordinary Shares, P50 par, 100,000 shares authorized 2,000,000 Share Premium Ordinary Shares 1,200,000 Retained Earnings 2,500,000 Treasury Stock, 5,000 shares of Ordinary 475,000 Shares 1. Compute for the number of outstanding 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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Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $8,000,000 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g.…
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 70,000 Common stock—$___ par value, 4,000 shares authorized, issued, and outstanding 180,000 Retained earnings 330,000 Total stockholders' equity $ 580,000 Required: 1. Determine the par values of the corporation’s preferred stock and its common stock.
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…
The following data has been collected about a company's stockholders' equity accounts: Common stock 10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding 100,000 Paid-in capital in excess of par value, common stock 50,000 Retained earnings 25,000 Treasury stock 11.500 Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is:
Milo Co. had 800,000 shares of common stock outstanding on January 1, issued 126,000 shares on May 1, purchased 63,000 shares of treasury stock on September 1, and issued 50,000 shares on November 1. The weighted average shares outstanding for the year is 851,000. O 914,000. 872,000. 871,334. ASA
about y section. E11-4 The stockholders' equity section of Leyland Corporation's balance sheet at Decem- ber 31 is presented here. LEYLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par, 750,000 shares authorized, 580,000 shares issued $ 600,000 2,900,000 Total paid-in capital Retained earnings 3,500,000 1,158,000 Total paid-in capital and retained earnings Less: Treasury stock (6,000 common'shares) 4,658,000 32,000 Total stockholders' equity $4,626,000 Instructions From a review of the stockholders' equity section, answer the following questions.. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre- ferred stock?
The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 shares authorized, 10,000 shares issued, and 9,000 shares outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 100,000 50,000 25,000 Treasury stock 11,500 Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is: Multiple Choice $1.15. $1.28. $11.50. $10.50. $10.00.
The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925.000 Additional Paid in Capital 125.000 Retained Earnings 4,500,000 Shareholder's Equity 5.550.000 The following transactions took place: Aug 10- Reacquired 4,000 ordinary shares for treasury at P60 per share Aug 12- 1,500 treasury shares were sold at P62 per share Aug 20- Another 1,500 treasury shares were sold at P55 per share Aug 31- 500 treasury shares were retired Required: Journalize each transaction and compute for the new balance of Shareholder's Equity.
Grayson Corporation has 500,000 shares authorized, 428,000 shares issued, and 28,000 shares of treasury stock. At this point, Grayson Corporation has $880,000 of assets, $216,000 of liabilities, $432,000 of common stock, and $232,000 of retained earnings. Further, assume that the market value of the company's common stock is $10 per share. Required: a. Determine the number of shares of stock that is outstanding. b. Determine the book value per share.
5A. What is the number of ORDINARY shares outstanding? 5B. What is the number of PREFERENCE shares outstanding?
The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925.000 Additional Paid in Capital 125,000 Retained Earnings 4,500,000 Shareholder's Equity 5,550,000 The following transactions took place: Aug 10-Reacquired 6,000 ordinary shares for treasury at P60 per share Aug 12- 2,500 treasury shares were sold at P62 per share Aug 20- Another 1,000 treasury shares were sold at P55 per share Aug 31- 1,000 treasury shares were retired Required: Journalize each transaction and compute for the new balance of Shareholder's Equity.
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) $8,000,000 Paid-In Capital in Excess of Par—Preferred Stock 440,000 Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) 20,000,000 Paid-In Capital in Excess of Par—Common Stock 2,280,000 Retained Earnings 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on…