On July 1, 2020. Rhod Corporation issued 1,000 P15 par ordinary shares at P19 and 2,000 P50 par redeemable preference shares at P60. Question: What is the amount debited to Cash?
Q: The following information was taken from the accounting records of Sa Gyung Joon Inc. for 2020.…
A: Cash flow from investing activities: It is a section of the cash flow statement that shows the cash…
Q: The board of directors of Ayayai Corp. declared a cash dividend of $1.50 per share on 40000 shares…
A: On the date of declaration of the dividend the company has to pass journal entry for creating…
Q: . Li Travel Company reported net income for 2021 in the amount of $900,000. During 2021, Li declared…
A: Earnings per share are the earnings available to each shareholder. The earnings per share are…
Q: In 2023, Chen Corporation purchased treasury stock with a cost of $47,000. During the year, the…
A: Cash flow statement provided information about the cash inflows and cash outflows of the company.…
Q: On December 18, 2020, UNO Corporation issued 5,250 ordinary shares, par P30 for P58 per share. At…
A: Paid in capital in excess of par = Issue price per share - Par value per share = P58 per share - P30…
Q: On December 2, 2022, Andrew Corporation issued for cash 12,000 shares of no-par ordinary shares with…
A: Stockholder's Equity -Stockholder's Equity includes the amount contributed by shareholders issued in…
Q: See the attached image for information: a. How many treasury shares are held by the corporation as…
A: Following worksheet is prepared for calculation of required information: Date Ordinary…
Q: Record the above transactions, including required adjusting journal entries (if any)
A: InvestmentsCompany NameNo of SharesPricePurchased @Sold @Capital Gain /LossClosing InvestmentMarket…
Q: The capital structure of THOR Company on December 31, 2020, is as follows: • 12% Preference shares,…
A: No. of shares issued from donated shares = No. of donated shares x 1/2 = 20000 shares x 1/2 =…
Q: Use the information above for FDW Co. to answer the following question: On March 27, 2020, what…
A: The answer for the multiple choice question and relevant explanation are presented hereunder :
Q: Newly formed S&J Iron Corporation has 192,000 shares of $5 par common stock authorized. On March…
A: STATEMENT OF CASH FLOWS Date AMOUNT ($) 1-Mar-18 149,500 FA…
Q: In additin to the above question: Prepare the company’s Stockholders equity section of the balance…
A: Introduction: Stockholders' equity is the total funds contributed by the shareholders of the company…
Q: Macpie Prima Bhd. (MPB) was formed on 1 July 2000. The following data were taken from the Statement…
A: MPB an alternative method to provide returns to the shareholders The directors of MPB decided not to…
Q: Instructions Show the allocation of dividends to each class of shares, assuming the preference share…
A: Dividend -: The Dividend is a diffusion of earnings by a company to its shareholders. When a firm…
Q: the following activities related to its financial operations: · Payment for the early retirement of…
A: The cash flow from financing activity includes transactions like dividends paid, the issue of a…
Q: . Akea Corp., reports this journal entry on May 15, 2020: Cash 75,000 Ordinary Share Capital…
A: Par value of share capital: The par value of a single ordinary share is determined by the statute of…
Q: How much is the ordinary share capital as of December 31,2019? How much is the total shareholder's…
A: Ordinary share capital is the capital for which there is voting…
Q: PROBLEM NO. 1 Watusi Inc. began operations in January 2021 and reported the following results for…
A: Share: -The capital of the company is divided into small units. these small units are known as…
Q: Which of the following alternatives represents the correct amount that must be disclosed as proceeds…
A: Financing activity is defined as one of the parts of the cash flow statement that shows the flow of…
Q: Bentiey Corporation received cash from issuing 12,000 shares of common stock at par on January 1,…
A: Issue of common stock is one of the ways in which the companies can raise funds for financing the…
Q: 6. The trial balance of Diamante Corporation as of Dec. 31, 2018, contained the following selected…
A: The Shareholders' Equity section of the Statement of Financial Position as of 31 December, 2018 is…
Q: 5. The directors have made the following provisions for the year ended 30 April 2021: (i) A final…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Account title and Explanation Debit($) Credit($) Cash [5,000 x $30] 1,50,000 a To Common stock…
A: Stockholders Equity Section includes Common Stock, Preferred Stock, Retained Earnings, Additional…
Q: For the year 2019, a business reports $450,000 increase in Share capital - Ordinary, $5 par value,…
A: Given that, increase in share capital = $450000 Increase in share premium = $550000 shares issued in…
Q: 51. What is the amount of dividend per share that MOONSTONE paid on March 31, 2021? 1.50 0.85 1.59…
A: You have asked various questions which are multiple choice questions and our protocol and guidelines…
Q: E13.8 (LO 3) On January 1, 2020, the equity section of Bergin ASA shows share capital-ordinary (£5…
A: Treasury stocks are the stocks which are repurchased by the company form the shareholders. The…
Q: Bentley Corporation received cash from issuing 13,000 shares of common stock at par on January 1,…
A: In the given question, the Corporation has issued 13,000 shares at par. The par value per share is $…
Q: Requirement: Give the journal entries for the foregoing transactions.
A: Dividend is the amount which is paid to the shareholders of the company and the dividend amount is…
Q: The Ivanhoe Corporation has 94,600 $2.00 noncumulative preferred shares that have been issued. It…
A: The dividends are the distribution of profit to shareholders. The dividend is returned to the…
Q: The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares…
A: Answer: debit to dividends playable
Q: 5. The directors have made the following provisions for the year ended 30 April 2021: (i) A final…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: The following data is available for Swifty Corporation at December 31, 2021: Common stock, par $10…
A: Common stock are the ordinary shares that a corporation issues to the investors in order to raise…
Q: The following information extracts from Yoyo Bhd's financial statements: (i) Extracts from the…
A: Basic EPS: Earnings Per Share, or basic EPS, is a financial term that quantifies the amount of…
Q: A corporation purchases 5,000 shares of its own $2 par common stock, originally issued at par, for…
A: Cash flows statement is the statement prepared to shows the cash movement in the organisation by…
Q: Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated…
A:
Q: 1.Prepare a memorandum entries to record these transactions. 2.Prepare the share capital section of…
A: 1) Preparing the journal entries as follows: Date Particulars Debit Credit 2018 Jan. 1…
Q: ABC Corporation issues 5,000 ordinary shares with a $50 par value for cash at $55 per share. The…
A: At the time of issue of shares, any amount received over and above par value of shares is known as…
Q: Show your workings. “The following balances have been extracted from the books of Porter Ltd…
A: A balance sheet is a representation of an individual's personal or corporation's financial balances…
Q: Cash dividends are paid based on the number of shares to. outstanding. b. issued (issued). C.…
A: Dividends is paid to the share holders for the money which is being invested in the company as share…
Q: On April 1, 2022, Ali started his new business Best Rent Agency. The following transactions were…
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
- On July 1, 2020. Rhod Corporation issued 1,000 P15 par ordinary shares at P19 and 2,000 P50 par redeemable
preference shares at P60.
Question: What is the amount debited to Cash?
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Bramble Corp. reported the following balances at December 31, 2021: common stock $408,000, paid-in Capital in Excess of Par- common stock $106,000, and retained earnings $242,000. During 2022, the following transactions affected stockholders' equity. 1. 2. 3. 4. Issued preferred stock with a par value of $128,500 for $209,000. Purchased treasury stock (common) for $36,500. Earned net income of $135,000. Declared and paid cash dividends of $52,500. Prepare the stockholders' equity section of Bramble Corp's December 31, 2022, balance sheet.Question 3.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share. The journal entry to record the stock issuance would include a credit to Additional Paid in Capital of? A. P45,000 B. P25.000 C. P20,000 D. P5,000The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share. The entry to record the transaction will consist of a debit to Cash for $646,800. What credit or credits will the entry consist of? Select the correct answer. -Preferred Stock for $509,600 and Retained Earnings for $137,200. -Paid-in Capital from Preferred Stock for $646,800. -Preferred Stock for $646,800. -Preferred stock for $509,600 and Paid-in Capital in Excess of Par Value - Preferred Stock for $137,200.
- Additional information for the year:1. Dividends declared and paid totaled $700.2. On January 1, 2020, convertible preferred stock that had originally been issued at par value was converted into 500 shares of common stock. The book value method was used to account for the conversion.3. Long-term nonmarketable investments that cost $1,600 were sold for $2,300.4. The long-term note payable was paid by issuing 250 shares of common stock at the beginning of the year.5. Equipment with a cost of $2,000 and a book value of $300 was sold for $100. The company uses one Accumulated Depreciation account for all depreciable assets.6. Equipment was purchased at a cost of $16,200.7. The 12% bonds payable were issued on August 31, 2020, at 97. They mature on August 31, 2025. The company uses the straight-line method to amortize the discount.8. Taxable income was less than pretax accounting income, resulting in a $696 increase in deferred taxes payable. Required: Prepare the complete statement of cash…1. What is the amount of dividend per share that MOONSTONE paid on March 31, 2021? 2. How much is the ordinary share capital, December 31, 2021? 3. How much will is the total cash dividends paid during the year 2021? 4. Number of fractional warrants outstanding as of December 31, 2021 5. How much is the retained earnings appropriated for contingency loss?Dear Bartleby, I would appreciate your assistance in calculating the following question. Also can you please show your calculations, thank you. c. Calculate the common stock dividends per share declared during 2021. (Round your answer to 2 decimal places.) Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: 2,000,000 shares of no-par common stock were authorized; 750,000 shares were issued on January 1, 2019, at $35 per share.800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized; 540,000 shares were issued on January 1, 2019, at $105 per share.No dividends were declared or paid during 2019 or 2020. However, on December 22, 2021, the board of directors of Permabilt Corp. declared dividends of $15,000,000, payable on February 12, 2022, to holders of record as of January 8, 2022.
- Q2. The following information was extracted from the Statement of Financial Position of Carman Berhad as at 31 December 2018. 7% cumulative preference shares 2,000,000 issued and outstanding of RM100 each ordinary shares 22,000,000 issued of RMI each treasury shares 2,000,000 5% convertible bond are RM10,000,000 worth of bond convertible into 2,000,000 ordinary shares stock options 1,000,000, each to purchase one ordinary share at RM25 per share warrants 2,000,000, each to purchase one ordinary share at RM15 per share Average market share price RM20 Average warrant price RM10 Net profit RM36,000,000 Tax rate is 24% Required: (a) Compute the basic earnings per share. (b) Taking into account dilutive effects above, compute the diluted earnings per share.In 2023, Chen Corporation purchased treasury stock with a cost of $54,000. During the year, the company declared and paid dividends of $12,000 and issued bonds payable for $900,000. Net cash provided by financing activities for 2023 is: A. $834,000. B. $900,000. C. $846,000. D. $888,000.Q2. On 1 July 2020 Farfalle pc had 5 million £1 ordinary shares in issue. On 1 September2020, Farfelle made a bonus issue of 1 for 2. Its profit after tax for the year ended 30 June 2021 is £3.8m. An ordinary dividend of £1.8m was paid(i) Calculate the earnings for year ended 30 June 2021(ii) Calculate basic EPS for the year ended 30 June 2021 to the nearest pence
- 3. Akea Corp., reports this journal entry on May 15, 2020: Cash 75,000 Ordinary Share Capital 63,000 Paid in Capital in Excess of Par 12,000 The explanation reads. “Issued ordinary share capital for P50 per share”. Compute the no. of shares issued for this transaction?The Vermillion Corporation has 116,600 $2.0 noncumulative preferred shares that have been issued. It declares a quarterly cash dividend on May 15 to shareholders of record on June 10. The dividend is paid on June 30. Prepare the entries on the appropriate dates to record the cash dividend. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation Debit Credit May 15 June 10 June 30 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit AnswerSheridan Corporation had the following information in its financial statements for the year ended 2025 and 2026: Common cash dividends for the year 2026 Net income for the year 2026 Market price of stock, 12/31/26 Common stockholders' equity, 12/31/25 Common stockholders' equity, 12/31/26 Outstanding shares, 12/31/26 Preferred dividends for the year 2026 $21500 O $17.99 O $15.10 O $18.67 O $18.88 128000 25 2240000 2800000 148300 31100 What is book value per share for Sheridan Corporation for the year ended 12/31/2026?
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)