Current assets $745,000 $820,000 Property, plant, and equipment 1,510,000 1,400,000 Current liabilities non-interest-bearing) 160,000 140,000 Long-term liabilities, 12% 400,000 400,000 Preferred 10% stock 250,000 250,000 Common stock, $25 par 1,200,000 1,200,000 Retained earnings, eginning of year 230,000 160,000 det income for year 110,000 155,000 Preferred dividends declared (25,000) (25,000) Common dividends declared (70,000) (60,000) etermine for the current year the (a) return on total assets, (b) return on stockholders' equity, (c) return on common stockholders' equity, (d) earnings per share on ommon stock, (e) price-earnings ratio on common stock, and (f) dividend yield. The current market price per share of common stock is $25. Round dollar values to two ecimal places and other final answers to one decimal place. a. Return on total assets 7.1 V %

Current assets $745,000 $820,000 Property, plant, and equipment 1,510,000 1,400,000 Current liabilities non-interest-bearing) 160,000 140,000 Long-term liabilities, 12% 400,000 400,000 Preferred 10% stock 250,000 250,000 Common stock, $25 par 1,200,000 1,200,000 Retained earnings, eginning of year 230,000 160,000 det income for year 110,000 155,000 Preferred dividends declared (25,000) (25,000) Common dividends declared (70,000) (60,000) etermine for the current year the (a) return on total assets, (b) return on stockholders' equity, (c) return on common stockholders' equity, (d) earnings per share on ommon stock, (e) price-earnings ratio on common stock, and (f) dividend yield. The current market price per share of common stock is $25. Round dollar values to two ecimal places and other final answers to one decimal place. a. Return on total assets 7.1 V %

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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Contributed capital: Preferred shares, $4 cumulative, 15,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 60,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity a. b. Book Value of Common Shares 144,000 300,000 $ 444,000 584,000 $1,028,000 $ Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 deci a. There are no dividends in arrears. b. There are three years, of dividends in arrears. 27
Contributed capital: Western Grass, Inc. Equity Section of Balance Sheet December 31, 2823 Preferred shares, $3 cumulative, 10,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 65,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 75,000 552,500 627 500 581 000 $1,208,500 Required: Using the Information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares
PROBLEM NO. 1 Watusi Inc. began operations in January 2021 and reported the following results for each of its 3 years of operations. 2021 P260,000 net loss P40,000 net loss P700,000 net income 2022 2023 At December 31, 2023, Watusi Inc. share capital accounts were as follows. Share Capital-Preference, 6% cumulative, par value P100; authorized, issued, and outstanding 5,000 shares Share Capital-Ordinary, par value P1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares P500,000 750,000 Watusi Inc. has never paid a cash or share dividend. There has been no change in the share capital accounts since Watusi began operations. The country law permits dividends only from retained earnings. Instructions a. Compute the book value of the ordinary shares at December 31, 2023. b. Compute the book value of the ordinary shares at December 31, 2023, assuming that the preference shares have a liquidating value of P106 per share.
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Kalinga Company reported the following adjusted account balances at year-end: Share capital 15,000,000 Share premium 5,000,000 Treasury shares, at cost 2,000,000 Actuarial loss on defined benefit plan 1,000,000 Retained earnings unappropriated 6,000,000 Retained earning appropriated 3,000,000 Revaluation surplus 4,000,000 Cumulative translation adjustment- credit 1,500,000 REQUIRED: What amount sjould be reported as shareholder's equity at year-end? a. 31,500,000 b. 32,500,000 c. 28,500,000 d. 25,500,000
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