Glavine Company issues 6,000shares of its $5 par value commonstock having a fair market value of$25 per share and 9,000 shares of its$15 par value preferred stock havinga fair market value of $20 per sharefor a lump sum of $297,000.Theproceeds allocated to thecommon stock are:a. 150,000b. 162,000c. 118,800d. 135,000

When Glavine Company issues 6,000 shares of its $5 par value common stock and 9,000 shares of its…

Answered: Glavine Company issues 6,000 shares of…

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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The following are the items contained in the company's capital section of PT. Copyright as of March 31 Ordinary shares, nominal @ Rp1,000, - statutair 40,000 shares paid up 24,000 shares IDR 12,000,000 10% priority shares, nominal @ IDR 2,000 IDR 4,000,000 Common stock Agio Retained earning IDR 1,200,000,- IDR 6,800,000 On April 1, the board of directors of the company announced that they would pay dividends of Rp Rp1,840,000, -. From this data, calculate the distribution of dividends to each shareholder if Priority shares above are non-cumulative priority shares and full participation
Nevada Corporation has 67,450 shares of $22 par stock outstanding that has a current market value of $189 per share. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be O a. 13,490 Ob. 67,450 Oc. 337,250 Od. 741,950
A company has the following Capital Structure: Ordinary $10 shares authorized: 1,000,000, of which 800,000 are issued. 100,000 $20 Preference shares issued and $5,000,000 Bonds at 5% interest The directors propose a 50 cent dividend on ordinary shares. A 80 cent dividend is due on the preference shares What is the total equity of the company? $17,000,000 $12,000,000 $7,000,000 $15,000,000
Nevada Corporation has 65,772 shares of $23 par stock outstanding that has a current market value of $266 per share. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa. 13,154 Ob. 328,860 O c. 756,378 Od. 65,772 A
MC Qu. 11-74 Anthem Inc. issues... Anthem Inc. issues 200,000 shares of stock with a par value of $0.11 for $160 per share. Three years later, it repurchases these shares for $90 per share. Anthem records the repurchase in which of the following ways? Multiple Choice Debit Common Stock for $22,000, debit Additional Paid-in Capital for $31,978,000 and credit Cash for $32.00 million. Debit Treasury Stock for $18.00 million and credit Cash for $18.00 million. Debit Common Stock for $22,000, debit Additional Paid-in Capital for $17,978,000 and credit Cash for $18.00 million. Debit Stockholders' Equity for $32.00 million, credit Additional Paid-in Capital for $18.00 million and credit Cash for $18.00 million.
If 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 S66,000
6. Thistle Limited has the following information at 31 December 20X5. • 1,000,000 common shares outstanding with the par value of $0.50. Net income for the year is $1,330,000. Net income attributable to equity holders of the company is $1,230,000. Net income attributable to non-controlling interest of the subsidiaries is $100,000. • Options of 500,000 shares with the exercise price of $3.25 per share. Convertible 10% bonds of $1,000,000 convertible in year 20X6 into 250,000 common shares. Convertible 8% preferred shares of $1 each totaling $1,000,000 convertible in year 20X7 at 1 common share for every 40 preferred shares. • Tax rate is 40%. Year-end market price per common share is $4.25. Average market price per common share is $4. a. Calculate basic earnings per share. b. Calculate diluted earnings per share by applying the procedure and sequential steps in the lecture note.

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