Ordinary shares $1 Retained eamings 1,000,000 800,000 1 800 000
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- Exercise 3 – 6 (Issuance of Share Capital on a Subscription Basis) The Harry Corp. was organized on July 1, 2019, and is authorized to issue share capital as follows: 50,000 shares of 10%preference share capital, P100 par 500,000 shares of ordinary share capital, P10 stated value The following transactions took place during July: July 1 Issued to incorporators 120,000 ordinary shares at P12 per share and 12,300 preference shares at par value. 8 Issued 1,200 preference shares to corporate promoters. The value of preference share capital on this date is P120 per share. 12 Received subscription for 70,000 ordinary shares at P15 per share with a down payment of 60% of the total subscription price. 21 Issued 19,000 ordinary shares in exchange for the following: Fair Value Merchandise Inventory P12,000 Land 150,000 Building 110,000 Equipment 21,000 30 Receive…Just letter C and DPart A P 14-12 Quas In late 2022, the Nicklaus Corporation was formed. The corporate charier authorizes the issuaee of 5,000,000 ordinary shares carrying a $1 par value, and 1,000,000 preference shares of $5 m Various reore shareholders value, non-cumulative, and non-participating. On January 2, 2022, 3,000,0000 ordinary shares ae equity topics: ISsued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000.000 compre- hensive (bas App OA 1- preference shares are issued at S20 per share. O LO14-1 Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus statement of financial position us of March 31, 2023, (Assume that net profit for the first quarter of 2023 was S1,000,000.) LO14-4 through LO14-8 Part B During 2023, the Nicklaus Corporation participated in three treasury shares transactions: On June 30, 2023, the corporation reacquires 200,000 shares for the treasury at a price of $12…
- $123 Numerator 185.4 Denominator $0.66 EPSAcquirer Shares Outstanding Target Shares Outstanding Acquirer Share Price Target Share Price Stock Consideration Cash Consideration Share Issuance Discount Tax Rate 917,712 991,813 1,000,000 25,000 $5.00 $10.00 Given the following data, calculate the pro forma number of shares outstanding (Rounding to the closest whole number). 1,081,633 1,261,613 $400,000 $200,000 2% 25%Question 10 of 17 -/1 E View Policies Current Attempt in Progress Crane Company issued 9000 shares of its $5 par value common stock having a fair value of $20 per share and 14000 shares of its $10 par value preferred stock having a fair value of $20 per share for a lump sum of $510000. How much of the proceeds would be allocated to the common stock? O $180000 O $310435 O $199565 O $206250 Save for Later Attempts: 0 of 1 used Submit Answer
- Q4 Company P’s net profit for Year 1 is 4 600 000. capital structure of P comprising 3 000 000 ordinary shares and 500 000 equity-classified preference shares in issue throughout Year 1. Each preference share provides for a cumulative discretionary dividend each year of R1.20; and preference shares have no further rights to participate in dividends with ordinary shares. There are no tax effects on payment of preference dividends.Calculate the basic EPSACCA 205 PRACTICE QUESTION ISSUE OF SHARES The Star Traders Co, was formed with a total capital made up as follows: 1,000,000 shares of common stock at $2 par 80,000 6% Preferred shares at $100 per share Issued 300,000 shares of common stock for cash at $8 per share. Purchased a building by issuing 10,000 shares of $2 par value common stock at the current market price of $10 per share. Issued common stock at a market price of $8 per share for the payment of incorporation expenses and legal fees amounting to $20,000 Issued 20,000 shares of 6% Preferred stock at a current market price of $105 per share. Jan 1. 2. 6. 8. 10. Sept. 18. Paid a cash dividend on common stock @ $2 per share outstanding and the preference dividend due. The dividend is paid out of current year's net intome.A * NI Yo LTEI 8%05:55 am LTE 4+ +91 6291965 492 12 August, I:52 pm YLtd. Issued 10000 equity share of Rs. 100 each. Payable as Rs. 25 on application, Rs. 40 on allotment, Rs. 15 on first call and Rs. 20 on final call Applications were received for 11000 shares. Excess applications were rejected. All money duly received except from Mr. Mishra holding 100 shares paid both calls money along with allotment. Prepare journal to record above transactions in the books of Y Ltd.
- Pink Limited Purple Limited Earnings before interest and tax R3 000 000 R4 000 000 Long term interest bearing debt R500 000 R800 000 Earnings attributable to shareholders R2 124 000 R2 822 400 Tax rate 28% 28% Share Capital R2 00 000 R5 000 000 Number of ordinary shares issued 200 000 400 000 Number of ordinary shares authorised 1 000 000 500 000 Current market price of the share R30 R20.00 Dividend per share R5 R3 As a financial manager you are very concerned about the dividend yield and dividend payout ratio as these will be your indicators of the return on your investments. Q .3 Calculate the dividend yield for both companies.340 PAS 32 Treasury shares, Interest, Dividends, Losses and Gains 4. Which of the following statement is correct? a. Entity A reacquires its own shares for P10,000. The shares were originally issued for P4,000. Entity A recognizes a loss of P6,000. b. Gains and losses arising from a financial liability are recognized in directly in equity. c. Entity A declares dividends. Entity A will recognize the amount of the dividends as expense in profit or loss. d. Entity A settles a liability with carrying amount of P100,000 for P85,000. This transaction results to a P15,000 gain that is recognized in profit or loss.20Y6 20Y5 Net income Preferred dividends Average number of common shares outstanding $4,243,200 $2,855,360 564.000 564.000 128,000 shares 104,000 shares Determine the earnings per share for 20Y6 and 20Y5. b. Does the change in the earnings per share from 20Y5 to 20Y6 indicate a favorable of unfavorable trend? EX 13-1 Dividend per share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 2% stock, $60 par, and 100,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $49,000; second year, $132,000; third year, $146,000; fourth year, $160,000. Compute the dividend per share on each class of stock for each of the four years. OBJ. 3 EX 13-2 Dividend per share OBJ. 3 Lightfoot Inc., a software development firm, has stock outstanding as follows: 40,000 shares of cumulative preferred 1% stock, $125 par, and 100,000 shares of $150…