DATE Debit Credit X/X
Q: ctober 1, Cullumber Corporation’s stockholders’ equity is as follows. Common stock, $6 par value…
A: Stock dividend: Shares are issued to the existing shareholders instead of cash dividend. Stock…
Q: None
A: The correct journal entry for the sale of 15 shares of treasury stock for $10 per share is:Cash…
Q: Below is a partial list of account titles and balances for the TNT Corporation as of December 31,…
A: Since you have posted a question with multiple sub-parts, we will do the first three sub-parts for…
Q: Net Income Tk.25,00,000 Preferred stock:50,000 shares outstanding Tk.100 par, 8% cumulative…
A: Compute the Weighted average outstanding shares Events occurred Date Shares outstanding Date…
Q: Prepare journal entries to record the transactions.
A: Treasury stock indicates the shares of the company bought back which in result decreases the…
Q: Current liabilities Convertible bonds ($1,000 par, 7%) Common stock ($1 par, 100,000 shares issued)…
A: Earnings per Share (EPS) is a financial metric that represents the portion of a company's profit…
Q: 1,000 shares of common stock with a par value of $5 is sold for $8. Which of the following is…
A: Journal entries are the building blocks of accounting, which is the act of recording the economic or…
Q: A. The following selected transactions pertain to L. Lewis Corporation: Jan. 3 Issued 100,000…
A: Stocks of a company can be issued in exchange of cash or in kind. Stocks issued in exchange of cash…
Q: em 3 aurnalize the following transactions: cash at $12 per share. Journal entry: Journal entry: 3.…
A: Issue of Shares: Shares that have been issued are those that the owners have elected to sell in…
Q: Excel Solution Given $100,000 to invest, construct a value-weighted portfolio of the four stocks…
A: A collection of multiple securities, projects, or investment vehicles into which investors pour…
Q: Amounts in US S During Apnil, its fint month of business, Kamy no Key, Inc.: Per Unit Total Issued…
A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…
Q: a. XYZ Company issued 500 shares of $2 par common stock at $5 per share. DATE Debit Credit…
A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…
Q: of flag A newly formed company sold stock for $545,000. The share had a par value of $5 each. After…
A: Step 1: To find the number of shares sold, you need to first calculate the total par value of the…
Q: 92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000…
A: 92. Average Days of Inventory = 365 x Average Inventory / Cost of Goods Sold Average Inventory =…
Q: Newly formed S&J Iron Corporation has 50,000 shares of $10 par common stock authorized. On March 1,…
A: The accounting equation refers to the equation where the total assets equals the sum of total…
Q: Ntebegining of curent yew, Jade Company reported the following rcholdens'equity: Sare capital,…
A: Unappropriated retained earnings: The unappropriated retained earnings can be defined as the portion…
Q: Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:…
A: Earning per share can be calculated by dividing the earnings available for common stockholders by an…
Q: 4. The following post-closing data are provided for Amazon Company: Description 5% Cumulative…
A: Book Value Per ShareThe ratio in between equity available to common shareholders divided by the…
Q: On February 16, Hawthorne Company declares a $0.35 dividend to be paid on April 5. Hawthorne has…
A: Journal entry is the act of keeping records of transactions in an accounting journal. An accounting…
Q: Lewis Corporation issued 5,000 shares of $7 par value common stock for $18 per share. The entry to…
A: Total cash received = Number of share issued * issue price per share = 5,000 * $18 = $90,000.…
Q: Changes in Various Ratios Presented below is selected information for Turner Company: Sales revenue…
A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…
Q: Issuance of Common Stock Smith & Sons inc.is authonized to issue one milion shares of S1 par value…
A: Journal is the basic book of recording transactions incurred during the year.
Q: ABC Corporation presented the following information in its 2021 statement of financial position:…
A: treasury stock is the stock purchased by the company from the open market. treasury stock will…
Q: a company sold 120,000.00 of shares at $1 par value, journalize the transaction
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Net income Bonds: 10%, $771,000 par value Preferred stock: 100,000 shares outstanding, $100 par, 8%…
A: Earnings per Share (EPS) is a financial metric used to measure the profitability of a company on a…
Q: Paltrowski Company issued 1 million shares of no- par common stock with a stated value of $5. The…
A: Solution:- Introduction:- Every company can issue shares on the following basis as follows:- Par…
Q: A B 11.3 (LO 2), AP During its first year of operations, Mona Corporation had these transactions…
A: The journal entries are prepared to record day to day transactions on regular basis.
Q: Post closing balance debit credit Non current assets 1 414 000 Current assets 412 000…
A: lot of information is given in the question, However, we only need to focus on the ordinary share…
Q: Groper inc presented the following data Net inome $2.7000 Pretemed stock 45.000 hares outstanding…
A: Weighted average no. of common shares outstanding = [Beginning shares + shares issued on May 1 x…
Q: QS 11-4 (Algo) Issuance of no-par common stock LO P1 Prepare the journal entry to record Autumn…
A: A journal entry is a fundamental accounting record that captures the details of a specific financial…
Q: ( 4 ) 6. Name the two sources of finance for redemption of debentures. 2 7. Define Profit & Loss…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Alma Corp. issues 1,040 shares of $9 par common stock at $15 per share. When the transaction is…
A: When Common stock is issued at premium the additional amount received in Excess of Par is credited…
Q: должна спуту! a. Issued 1,000 shares of $10 par common stock at $59 for cash.
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: Capitalization Amount is $64,800. Cost per share is $13.33 Looking for Net inocme
A: To determine the net income earned by the company for the year, we first examined the changes in the…
Q: (Algo) Reporting tockholde [The following information applies to the questions displayed below.] The…
A: Retained Earnings Are The Portion Of The Company's Profit After Paying All Expenses And Dividends To…
Q: Following is the Balance sheet of Jay Limited: Liabilities Equity Shares of Rs. 10 each Retained…
A: Net Assets: Net assets are the difference between the assets and outside liabilities of the…
Q: Using the following information for the year ended 30 June, prepare the Retained Earnings Account…
A: Retained earnings accounts show the free reserve available for distribution of dividends and issue…
Q: Common stock,1,000 shares at Tk100 per share Tk.1,00,000 Retained earning Tk.50,000 Total 1,50,000…
A:
Q: ded the following information at the Atla beginning of the current year: 12% convertible bonds…
A: Given that, Net income for the year = P9,500,000 Tax rate = 30% Ordinary share outstanding at…
Q: Q. question 1
A: Paid-in capital in excess of par value: This is the total of stock capital contributed by investors…
Q: Assume the capital structure of XYZ Company: Bonds payable, 10% . . . . . . . 500,000…
A: bond price = rd×1-tax where, rd=cost of debt
Q: ABP signment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress=false…
A: If shares are issued, the issue of share are recorded by debiting cash and crediting common stock.…
XYZ Company sold 500 shares of
|
DATE |
|
Debit |
Credit |
|
X/X |
|
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- CH Required information Sovran Financial Corporation reported net income of $154 mlion for the current year (tax rate 25%). Its capital structure consksted of the folkowing. Unchanged during the year Common Stock Jan. 1 60 million common shares were outstanding (S amounts in milions, except per share amount) Basic EPS: Netincome $154 $2.57 60 Shares outstanding 0:00/1:23 720p 1X CC O Knowledge Check 01 Greene Corporation reported net income of $300,000. The company had 60,000 common shares outstanding, which remained unchanged during the current year. What is the company's basic EPS? (Round your answer to 2 decimal places.) Basic EPS IMG-1894.jpg IMG-1895.jpg IMG-1896.jpg --pdf 490CA57F-89F1....pdfQuestion 1 The following information relates to a company listed on Luse- Mungwi PLC ZMK Issued share capital (1000 shares) Share premium. Reserves. Share holders funds. 6% Irredeemable Debentures. 9% Redeemable Debentures. Bank loan. Total Long Term Liabilities. Million 4 000 2 600 290 6,890 2,800 2,900 1 000 6 700 The current cum interest market value per k100 units is k103 and k105 fir the 6% and 9% Debentures respectively. The 9% Debenture is redeemable at par in 10 years time. The bank loan bears interest rate of 2% above the base rate (current base rate is 15%). The current ex-div market price of shares is k1, 100 and a dividend of K100 per share which is expected to grow at a rate of 5% per year has just been paid. The effective corporation tax rate for Mungwi is 30%. Required: A) Calculate the effective after tax weighted Average Cost of Capital (WACC) fir Mungwi PLCComplete the table. (Round earnings per share to 2 decimal places, e.g. $2.66.) Income before interest and taxes Interest expense from bonds Income before income taxes Income tax expense (40%) Net income Outstanding shares Earnings per share $ $ Issue Stock $1,584,000 $ $ Issue Bonds $1,584,000 140800 528,000
- Total assets Notes payable (6% interest) Common stock Preferred 2.5% stock, $100 par (no change during year) Retained earnings 20Y7 $5,200,000 2,500,000 250,000 Return on total assets December 31 20Y6 $5,000,000 2,500,000 250,000 500,000 1,222,000 500,000 1,574,000 < The 20Y7 net income was $411,000, and the 20Y6 net income was $462,500. No dividends on common stock were declared between 201 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. 20Y7 a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 19.13 % X % 20Y5 $4,800,000 2,500,000 250,000 Return on stockholders' equity Return on common stockholders' equity h The profitability ratios indicate that the company's profitability has deteriorated % 500,000 750,000 20Y6 94.0 X % % % ✓. Because the return on commonIf Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for S66,000The Investments and Dividends Income accounts of Babe Time Company are shown below: Trading Securities Date Description Ref. Debit Credit 06/22/14 5,000 ordinary shares, par value P100, Bebe Co. CD – 28 520,000 12/31/14 Adjustment to fair value 80,000 05/31/15 500 shares Bebe Co. received as bonus issue GJ – 10 12,000 07/10/15 Sold 1,000 shares @ P130 net of transaction cost CR – 21 130,000 12/04/15 Sold 1,000 shares @ P140 CR – 40 140,000 Dividend Income Date Description Ref. Debit Credit 05/31/15 Bonus issue (stock dividend) GJ – 10 12,000 08/01/15 Cash dividend on Bebe Co ordinary shares CR – 22 22,500 The following information was obtained during your examination: The December 31, 2014 statement of financial position of Babe time Company showed, among current assets, Trading Securities of P600,000. You obtained the following…
- Please help me with show all calculation thankuRequired information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $3 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $58,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet LiAssume the capital structure of XYZ Company: Bonds payable, 10% . . . . . . . 500,000 Preferred stock, 8%, P100 par . . . . . . . . 100,000 Common stock, 100,000 shares. . . . . . . 400,000 Other data shows as follows: Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000 Variable costs. . . . . . . . . . . . . . . . . . . . . . 362,500 Fixed Operating costs. . . . .. . . . . . . . . . . 187,500 Income tax rate . . . . . . . . . . . . . . . 30% Dividend growth rate . . . . . . . . . . . . . . . . 2% Current market price: Common stock. . . . . . . . . . . . . P5/share Preferred stock. . . . . . . . . . . . . P160/share Transaction costs: Common stock. . . . . . . . . . . . . . P1/share Preferred stock. . . . . . . . . . . . . . P 10/share What is the cost of issuing preferred securities?
- Earnings Per Share Calculati ons Informatlon Provlded: Common Shares Balance at the beginning of the ye ar On July 1, the company sold an additional 5,000,000 shares 8,000,000 shares Each share sold for $3.00 and had a par value of $ 0.10 Preferrred Shares Beginning of the Year End of the Year 50,000 150,000 Dividends pald to Preferred Shareholders Dividends pald to Common Sharehol ders 650, 000 1,000, 000 Ex ce pt from Income Statement Income from Continuing Operations 22,000, 000 Income from Discontinued Ope rations (aftertaxImpact) 2,100, 000 Net Income 24,100, 000 Requlred: Based on the Information provided above: 1 Prepare the Joumal entry to record the July 1 sale of shares 2 Calculate the welghted average common shares outstandi ng 3 Calculate e arnings pershare (as required). Note: Show your detal led calaulatlons.Accounting for Common, Preferred, and Treasury Stock A-Team Corporation issued 1.000 shares of $5 par value stock for land. The stock is actively traded at $9 per share. The land was advertised for sale at $10,500. The land should be recorded at $9,000. O $5,000. $4,000. O $10.500.sh.3
