Ebberle Company reported the following in the shareholders' equity section of its statement of financial position at 30 June 2018. The fully paid shares were previously issued $3.00 on application, $1.00 on allotment and an $0.50 call: Ordinary shares $76 500 Retained earnings $25 000 Total shareholders' equity $101 500 Which of the following is right according to the information above? Earnings per share (EPS) for this company is $2.50 Earnings per share (EPS) for this company is $2.67 The company issued 15 000 shares The company issued 17 000 shares

Ebberle Company reported the following in the shareholders' equity section of its statement of financial position at 30 June 2018. The fully paid shares were previously issued $3.00 on application, $1.00 on allotment and an $0.50 call: Ordinary shares $76 500 Retained earnings $25 000 Total shareholders' equity $101 500 Which of the following is right according to the information above? Earnings per share (EPS) for this company is $2.50 Earnings per share (EPS) for this company is $2.67 The company issued 15 000 shares The company issued 17 000 shares

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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for comparative financial statements at the end of 2022? 2. What is the weighted.average number of shares for 2022 On January 1, 2021, Master Company had 250,000 ordinary (AA) S Problem 19-24 (IAA) Proble Timp shares outstanding. year: 1, 2021 1, 2021 1, 2021 December 1, 2021 1, 2022 September 1, 2022 Sold 24,000 shares Issued a 20% share dividend Sold 16,000 shares Purchased 15,000 treasury shares Issued a 3 for 1 share split Sold 60,000 shares January February March March July October June July December 1. What is the weighted average number of shares for 2021 for comparative financial statements at the end of 2022! What is a. 980,250 b. 329,800 c. 984,000 d. 969,000 a. 400,0 b. 442,5 C. 445,0 d. 460,00 Problem On Janua shares ou а. 1,009,400 b. 1,049,400 C. 1,169,400 During d. 989,400
National Supply's shareholders' equity included the following accounts at December 31, 2015: ($ in millions) Shareholders' Equity $ 6,000,000 Common stock, 6 million shares at $1 par Paid-in capital-excess of par Retained earnings 30,000,000 86,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Pre- pare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2016 February 17, 2017 November 9, 2018 Reacquired 300,000 shares at $8 per share. Reacquired 300,000 shares at $5.50 per share. Sold 200,000 shares at $7 per share (assume FIFO cost). 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2018, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $14 million in 2016, $15 million in 2017, and $16 million in 2018. No…
The following data were presented for WENG company on Jan. 1, 2018: Ordinary share, par value 20, authorized 400,000 shares issued and outstanding, 240,000 shares 4,800,000 Share premium Retained Earnings 960,000 3,080,000 The company uses the cost method of accounting for treasury shares and the following transactions took place: The entity acquired 4,000 shares of its shares for 140,000; sold 2,400 treasury shares at 40 per share, then retired the remaining treasury shares. What is the amount of the retained earnings after the retirement of treasury shares?
On January 1 2018, ACI Ltd. had 5,80,000 shares of common stock outstanding . During2018, it had the following transactions that affected the common stock account:February-1 Issued 1,50,000 shares.March-1 Issued a 20% stock dividend.May-1 Acquired 1,00,000 shares of treasury stock.June-1 Issued a 4 for 1 stock split.October-1 Reissued 60,000 shares of treasury stock.Requirements:i) Determine the weighted average number of shares outstanding as of December 31,2018.[01]ii) Assume that ACI Ltd. earned net income Tk. 35,00,000 during 2018. In addition it had1,00,000 shares of 10% ,Tk100 per nonconvertible, noncumulative preferred stockoutstanding for the entire year. Because of liquidity considerations, however, thecompany did not declare and pay a preferred dividend in 2018. Compute earning pershares for 2018, using the weighted average number of shares. iii) Assume the same fact as in part (ii), except that the preferred stock was cumulative.Compute earning per shares for 2018.iv) Assume…
Ayayai Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $200,000, and Retained Earnings $120,000. In 2022, the company had the following treasury stock transactions. Purchased 5,500 shares at $9 per share. Sold 1,000 shares at $13 per share. Sept. 1 Sold 1,000 shares at $11 per share. Dec. 1 Sold 1,500 shares at $7 per share. Mar. 1 June 1 Ayayai Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $30,000. D (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit S
On January 1, 2022, Skysong, Inc. had $1,190,000 of common stock outstanding that was issued at par and retained earnings of $749,000. The company issued 43,000 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) (b) No. Account Titles and Explanation (a) Par value is $10 and market price is $15. Par value is $5 and market price is $8. (b) Retained Earnings Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Retained Earnings Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Debit 277,425 147,960 Credit 184,950 277,425 92,475 332,910
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b) An analysis of stockholders' equity of Hahn Corporation as of January 1, 2017, is as follows: Common stock, par value Tk. 20; authorized 100,000 shares; issued and outstanding 90,000 shares, Tk. 1,800,000; Paid-in capital in excess of par, Tk. 700,000; Retained earnings , Tk. 760,000. Hahn uses the cost method of accounting for treasury stock and during 2017 entered into the following transactions: i. Acquired 2,500 shares of its stock for Tk. 75,000. ii. Sold 2,000 treasury shares at Tk. 35 per share. iii. Sold the remaining treasury shares at Tk. 20 per share. Required:Assuming no other equity transactions occurred during 2017, what should Hahn report at December 31, 2017, as total additional paid-in capital?
Kelbrooklimited provided the following information.1.The issue share capital consists of 180000 ordinary shares of $0.50 each2. On 1 jan 2019: general reserve is $ 4,000. Retained earnings is $ 5,5003. The profit for the year ended 31 December 2019 was $ 9,000. $ 2000 of this was transferred to the general reserve .4. An interim dividend of $4,500 was paid during the year. No dividends were proposed at the end of the Required Prepare Statement of changes and Equity Account
On January 3, 2025, SY Company has 200,000, P10 par value ordinary shares outstanding having a market price of P15. The shares were originally issued at P14. The total undistributed accumulated net earnings were P4,000,000. On January 4, 2025, SY company declared a 2 for 1 stock split. Compute the balance of Retained earnings after the Stock Split. Compute the balance of Total Contributed Capital after the Stock Split. Assuming that the 2 for 1 stock split was a reverse split (split down), the Total stockholders Equity after the split is
On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 241,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 19,500 shares outstanding Retained earnings Treasury stock, at cost, 4,100 shares During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 20: Required: $ 241,000 482,000 195,000 1,950,000 3,900,000 20,500 Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend on…