Reporting Paid-In CapitalThe following accounts and their balances were selected from the adjusted trial balance of Block Ayala Group Inc, a freight forwarder, at October 31, the end of the current fiscal yearCommon Stock, no par, $22 stated value $5,500,000Paid-In Capital from Sale of Treasury35,000StockPaid-In Capital in Excess of Par-PreferredStockPaid-In Capital in Excess of Stated Value-Common Stock380,000Preferred 2% Stock, $110 par6,050,000Retained Earnings31,036,000Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8 There are 300,000 shares of common stock authorized and 100,000 shares of pred statedBlock Ayala Group Inc.Stockholders EquityOctober 31ToogooolPaid-In Capital00 00Total Pidin Capital165,0000 00(mmeî

Statement of shareholder's equity is a part of balance sheet statement. It shows equity related…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10-4, 10-5, 10-7) [The following information applies to the questions displayed below.] Golf Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 120,000 shares of common stock for $65 per share. February 14 Issue 55,000 shares of preferred stock for $13 per share. Purchase 12,000 shares of its own common stock for $55 per share. Resell 6,000 shares of treasury stock for $60 per share. May 8 May 31 December 1 Declare a cash dividend on its common stock of $0.75 per share and a $22,000 (4% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash…
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Problem 6 (Adapted)Anna company presented the following account balances in the shareholders’ equity section for the year ended December 31, 2018: Preference share capital, 12% P50 par, P3,000,000, Ordinary share capital, P100 par, P6,000,000 and deficit, (P1,350,000). No dividends have been paid on the preference share since 2016. Determine the book value per share under the following conditions:a. Preference share is preferred as to assetsb. Preference share is preferred as to dividend
P12-6Alternative dividend policies in the last 10 years, a company has had thanks to the earnings per share that are presented in the following table: Year Earnings per share2006 $ 4.002005 3.802004 3.202003 2.802002 3.202001 2.402000 1.201999 1.801998 -0.501997 0.25 to. If the company's dividend policy was based on a constant pay ratio of 40 percent for all years with positive earnings and 0% for years that did not achieve these gains, what would the annual dividend be for each year?b. If the company had a dividend payment of $ 1 per share, increasing $ 0.10 per share whenever the dividend payment decreased to less than 50 percent for two consecutive years, what annual dividend would it pay each year?
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Statement of stockholders’ equity; net loss Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 20Y5, are as follows: Common Stock May 1 (20Y4) 10,000 July 1 7,500 Retained Earnings Dividends Apr. 30 31,200 May 1 (20Y4) 475,500 July 31 (20Y4) 1,250 Apr. 30 5,000 Apr. 30 5,000 Oct. 31 1,250 Jan. 31 1,250 Apr. 30 (20Y4) 1,250 Prepare a statement of stockholders’ equity for the year ended April 30, 20Y5. Restoration Arts Statement of Stockholders’ Equity For the Year Ended April 30, 20Y5 Common Stock Retained Earnings Total $ $ $ $ $ $
Mady Entertainment Inc. showed the following equity account balances on the December 31, 2022, balance sheet Common shares, unlimited authorized shares, 640, 000 shares issued and outstanding Retained earnings $5, 760, 000 2, 130, 000 During 2023, the following selected transactions occurred: Apr. 1 Repurchased and retired 168,000 common shares at $10.00 per share; this is the first retirement recorded by Mady. June 1 Declared a 2:1 share split to shareholders of record on June 12, distributable June 30. Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1, December 10, and December 20 were $ 7.00, $6.76, and $6.90, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balancs of $756, 000 in the Income Sumary account. Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by Mady Entertainment Inc). The…

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