At December 31, 2021, Azores Corp. had 20,000 shares of P1 par value treasury shares that had been acquired in 2021 at P12 per share. In May 2022, Azores issued 15,000 of these treasury shares at P10 per share.  At December 31, 2022, what amount should Azores show in notes to financial statements as a restriction of retained earnings as a result of its treasury shares transactions?

Q: At December 31, 2019 and 2020, ABC Company had outstanding 40,000 shares of P100 par value 6%…

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

Q: Calculate basic earnings per share and diluted earnings per share for the following information C…

A: Both basic and diluted earnings per share are employed to calculate a firm's profitability. The…

Q: How much is the total shareholder's equity if all subscription receivables are due in year 2022 a.…

A: Shareholders equity is the total amount attributable to shareholders of the company. This is an…

Q: On the sale of treasury stock dated September 1, 2021, how much is the gain realized? On January 1,…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: Accounting Cherry Corporation had 600,000 shares of common stock outstanding during 2020. In…

A: Answer a:- EPS = $1.67. Explanation:-  Computation of EPS:-  EPS = Net Income / Outstanding shares…

Q: Required information (The following information applies to the questions displayed below Financial…

A: Earnings per share = Net Income available for equity shareholders/ Average outstanding shares Net…

Q: What amount should be credited to Share Premium when the rights in connection with the warrants were…

A: Share premium is the premium which has been paid by the shareholder in order to acquire or purchase…

Q: The shareholders' equity of Kendrick Corp. on August 31, 20 8% Preference share capital, P20 par…

A: From the profits and retained earnings, Preference shares are paid and the remaining amount is…

Q: Del Valle Company provided the following shareholders’ equity on December 31, 2021:

A: Answer: Book value per ordinary share= Book value/ No of shares   Calculation of No of shares: =…

Q: 1: Cyrell Company issued 200,000 shares of P5 par value at P10 per share. On January 1, 2019, the…

A: Introduction Retained earnings are the earnings that is left after dividend distribution to…

Q: Using the information below, how may Ordinary shares were issued in 2020? The shareholders' equity…

A: Ordinary share capital gets impacted only when shares are issued, therefore, to ascertain the number…

Q: Stan statement of financial position shows total shareholders' equity of P3,150,000 as of December…

A: Solution: Outstanding shares = Issued shares - shares in treasury = 52000 - 2000 = 50000 shares

Q: amarisk, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company   950…

A: Journal Entry: It is the entry  which is used by an enterprise to  record  the business transactions…

Q: At December 31, 2019 and 2020, ABC Company had 30,000 shares of P100 par value 5% cumulative…

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

Q: The NiceWay Corporation's statement of financial position shows the total stockholders' equity of…

A: The book value per share is calculated as total shareholders equity divided by number of shares…

Q: Using the information of Good Life Company, what is the amount of Total Shareholders' Equity on…

A: Shareholders’ equity: Shareholders’ equity can be defined as the amount of capital that is invested…

Q: The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares,…

A: No. of shares issued from donated shares = No. of donated shares  x 1/2 = 20000 shares x 1/2 =…

Q: Using the following, how many shares were outstanding? * On January 1, 2021, the statement of…

A: The maximum number of shares which can be issued by a company is referred to as the Authorized…

Q: PROBLEM 1: You were assigned to audit the shareholders' equity of Glory Inc. for the year ended…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Condensed statement of financial position for What and Ever Corporation at December 31,2020 follows…

A: Consolidation refers to the combination or acquisition of another entity by acquiring equity of that…

Q: HOPE Corporation was organized in 2018 to operate a manufacturing business. The following…

A: SOLUTION- SHARE PREMIUM AMOUNT REPRESENTS THE DIFFERENCE BETWEEN THE PAR VALUE AND SUBSCRIBED OR…

Q: The ABC's statement of financial position shows total shareholders' equity of P3.150.000 as of…

A: Formula used: Book value per share = Total Shareholders equity / Outstanding shares Division of…

Q: Aylmer follows IFRS   On December 31, 2021 the company declared a dividend of $0.23 per share for…

A: Journal entry is the modern method of accounting in which all business transactions are recorded in…

Q: PPP Company provided the following shareholders’ equity on December 31, 2020: Preference share…

A: Noncumulative describes a type of preferred stock that does not entitle investors to reap any missed…

Q: PROBLEM NO. 1 Watusi Inc. began operations in January 2021 and reported the following results for…

A: Share: -The capital of the company is divided into small units. these small units are known as…

Q: The VWX's statement of financial position shows total shareholders’ equity of P3,150,000 as of…

A: Book value per share = Total shareholders equity/Number of common equity share outstanding  Total…

Q: The shareholders' equity of CCC Corp. on Dec. 31, 2023 shows the following balances: 7% Preference…

A: Ordinary shares, often referred to as common shares or common stock, signify ownership in a business…

Q: 16. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2019. The following are data available…

A: If investment in equity stock are treated as held for trading then such investments are designated…

Q: Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) Share premium…

A: Dividends: A company pays dividends in cash as well as in share dividends out of net income earned…

Q: PPP Company provided the following shareholders’ equity on December 31, 2020: Preference share…

A: Non-participating preferred stock is preferred stock that specifically limits the amount of…

Q: BABA Company has 2,000 shares of 5%, P100 par non-cumulative preference share outstanding at…

A: Dividends: Its a return given to share holders on their investments with company.

Q: K. The shareholder's equity section of Angel Inc. showed the following data on December 31, 2018:…

A: Answer:-  Legal capital meaning:- Legal capital is that portion of a firm's stock that can not be…

Q: What amount should be reported as total shareholder's equity on december 31, 2020?

A: The shareholders' equity section represents the total equity that belongs to the shareholders of the…

Q: On December 31, 2020, BFAR Corp. has 5,000, 6% cumulative and non-participating preference shares…

A: Dividends are paid in two types Stock dividends and Cash dividends. Stock dividend means a payment…

Q: ABC Company had 100,000 of P 15 par value ordinary shares on January 1,2019. During 2019, the…

A: The treasury share are the buy back shares of the company.

Q: 9. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2019. The following are data available…

A: Shares means an instrument which shows that the share holder is the owner of the company . When…

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.