BFAR Corporation reported the following shareholders' equity on January 1, 2022: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium 900,000 Accumulated profits During the current year, the entity had the following share transactions: Acquired 6,000 treasury shares for P270,000. • Sold 3,600 treasury shares at P50 a share. • Sold the remaining treasury shares at P41 per share. Compute the total Shareholders' Equity at year-end. ● 2,190,000

BFAR Corporation reported the following shareholders' equity on January 1, 2022: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium 900,000 Accumulated profits During the current year, the entity had the following share transactions: Acquired 6,000 treasury shares for P270,000. • Sold 3,600 treasury shares at P50 a share. • Sold the remaining treasury shares at P41 per share. Compute the total Shareholders' Equity at year-end. ● 2,190,000

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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Sunland Limited reported the following items in shareholders' equity on December 31, 2024: Share capital: Preferred shares, $5 cumulative dividend, 145,000 shares issued and outstanding. $14,500,000 Share capital: Common shares, 711,000 issued and outstanding. $28,440,000 Retained earnings. $26,830,000
1. The balance sheet of Quetico Inc. reported the following at December 31, 2020: A Shareholders' Equity B C Preferred shares, $0.40, 10,000 shares authorized 2 and issued $ 100,000 3 Common shares, 100,000 shares authorized* 400,000 45 Accumulated other comprehensive income Retained earnings 224,000 476,500 6 Total shareholders' equity 7 $ 1,200,500 *The common shares were issued at a stated value of $8.00 per share. Requirements a. Are the preferred shares cumulative or non-cumulative? How can you tell? b. What is the total amount of the annual preferred dividend? c. How many common shares are outstanding? d. Compute the book value per share of the common shares. No preferred dividends are in arrears, and Quetico Inc. has not yet declared the 2020 dividend..
For the year ended December 31, 2024, Norstar Industries reported net income of $980,000. At January 1, 2024, the company had 1,130,000 common shares outstanding. The following changes in the number of shares occurred during 2024: April 30 May 24 June 1 Sold 100,000 shares in a public offering Declared and distributed a 5% stock dividend Issued 114,000 shares as part of the consideration for the purchase of assets from a subsidiary Required: Compute Norstar's earnings per share for the year ended December 31, 2024. Show computations. Numerator Denominator Earnings per Share
BFAR Corporation has the following information in its shareholders' equity: Ordinary Share Capital of P1,600,000 - P200 par value Share Premium, P400,000 Accumulated Profits of P900,000. ● A share dividend of 6% was declared when the share is selling at P500 per share. Compute the balance of Accumulated Profits after dividend declaration.
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Jimin Corporation had the following shareholders’ equity accounts before the declaration of dividend: >Ordinary Share Capital, P5 par, 500,000 shares authorized-P1,500,000 >Additional Paid in Capital- P1,550,000 > Retained Earnings- P1,210,000 Market value of the Ordinary Share Capital on the date of declaration is P30 per share and P45 per share on the date of issuance. Assuming that the corporation declared and distributed a 10% share dividend, what was the total contributed capital after the issuance of the bonus shares?
nts CFAS Company showed the following information from its shareholders' equity at year-end before the effect of the transaction below: Ordinary share capital P6,250,000 Share premium 3,125,000 Retained earnings 3,724,000 Treasury shares (at cost) 1,530,000 The ordinary shares were originally issued for P187.50 per share. At the end of the year, CFAS Company retired 5,100 shares held in treasury. The treasury shares had a P125 par value per share and an average cost per share of P300. (Input your answers as figures, do NOT put any comma, peso sign or extra spaces. E.g. if your answer is one thousand, please input 1000): 1. How much is the adjusted ordinary share capital at year end? 2. How much is the adjusted share premium at year end? 3. How much is the adjusted balance of retained earnings at year end?
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