Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par 4 300,000 Share premium- -Ordinary 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings 1,500,000 Treasury Shares Ordinary (at cost) 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d.8,750,000. 2.Randall pic is a company that, during the year ended 31 December 2020, paid $25,000 debenture interest and paid an ordinary dividend of 8 pence per share on 1 million £1 ordinary shares. The retained profit for the year was $160,000. What was Randall pc's profit for the year? Select one: a.$215,000 b.$80,000 c.$240,000 d.$265,000

Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par 4 300,000 Share premium- -Ordinary 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings 1,500,000 Treasury Shares Ordinary (at cost) 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d.8,750,000. 2.Randall pic is a company that, during the year ended 31 December 2020, paid $25,000 debenture interest and paid an ordinary dividend of 8 pence per share on 1 million £1 ordinary shares. The retained profit for the year was $160,000. What was Randall pc's profit for the year? Select one: a.$215,000 b.$80,000 c.$240,000 d.$265,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 1BCRQ

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Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .
Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
Below are the statements of financial position for Haggis and Stovies Haggis RM Stovies RM Non-current assets Tangible assets Investments: shares in Stovies at cost 33,000 12,500 20,000 Current assets 4,500 50,000 16,000 36,000 Share capital and reserves Equity shares of $1 each Share premium Retained earnings 10,000 5,000 6,000 21,000 4,000 13,000 17,000 Non-current liabilities 20,000 9,000 Current liabilities 9,000 50,000 10,000 36,000 On 1 January 2013, Haggis acquired 3,000 shares in Stovies. At that date the balance on Stovies' retained earnings was RM8,000. Non-controlling interest are valued at fair value, the fair value of the non-controlling interest on acquisition was RM3,800. Goodwill has been impaired by RM1,000 since acquisition.
1. Avalanche Inc. revealed the following information for the year ended December 31. 2021 Preference share. P100 par-P2.4 million; Share premium, preference - P700,000; Ordinary share, P15 par-P3.5 million, Share premium, ordinary-P1.5 million. Subscribed ordinary share - P100,000, Retained earnings - P2 million, Subscription receivable, ordinary - P20,000 How much is the legal capital? A.P6 million B.PB 1 million CP5.9 million D.P8 2 million 2.At the beginning of 2021, DAI Corp. was organized with authorized capital of 200,000, P500 par value shares. The following transactions transpired during its first year of business. February 4- Issued 15.000 shares at P510 per share April 10- Issued 3,000 shares for services received (FMV of the services is P1.7 million). October 23-Issued 5,000 shares in exchange for a land (FMV) the land is P3 million) What amount should be reported as share premium? A.11.500.000 B. 23.000 C.850.000 D.12.350.000 3. At the beginning of 2021, DAI Corp. was…
a company has the following items: share capital-ordinaty: $920,000 treasury shares : $85,000 deferred taxes $100,000 retained earning : $ 363,000 which ammount should be report as total equity ? A- 1098000 B- 1198000 C- 1298000 D- 1398000
The following capital accounts are shown in the statement of financial position of George Corporation: Ordinary shares, 10,000 shares, par value P100 - 1,000,000 Premium on ordinary shares 20,000 Share premium - treasury shares 30,000 Accumulated profits and losses 750,000 Treasury shares, 2,000 shares at cost 250,000 The entire 2,000 treasury shares were sold for P200,000. What would be the balance of the accumulated profits and losses account after this sale?
INDIGO Corporation provided the following shareholders' equity accounts. What is the amount of legal capital? * PLEASE SHOW HOW TO GET THIS ANSWER ₱ 8,981,000
An entity provided the following shareholders' equity at year-end:Ordinary share capital, P100 par, 72,000 shares 7,200,000Subscribed ordinary share capital, 12,000 shares 1,200,000Subscription receivable 400,000Treasury shares, 4,000 at cost 600,000Retained earnings 2,000,000What is the book value per ordinary share?
AB Corp had a net profit of CU400,000,000 and paid a dividend of CU200,000,000 during 19X7. AB Corp's shareholder equity as of December 31, 19X6 and December 31, 19X7 is as follows: 31 Desember 19x6 31 Desember 19x7 10% cumulative preference shares nominal Rp100,000 Rp300.000.000 300.000.000 Ordinary shares nominal Rp1,000 1.000.000.000 1.000.000.000 Additional paid-in capital 2.200.000.000 2.200.000.000 Retained earning 500.000.000 700.000.000 Shareholders' Equity 4.000.000.000 4.200.000.000 On January 2, 19X7, XY Corp purchases 400,000 shares of AB Corp common stock for CU4,000 per share and also pays CU50,000 in direct costs to acquire the investment. Required to determine (1) XY Corp's income from AB Corp in 19X7 and (2) the balance in the investment account with PT Somar as of December 31, 19X7.
Following is the Balance Sheet of Redeemable Limited: 24 I. Equity and Liabilities (1) Shareholders' Funds (a) Paid-up Share Capital : 10% 1,000 Redeemable Preference Shares of $ 100 each fully called up Less : Calls in Arrears on 50 Shares @ $ 20 each 1,00,000 1,000 99,000 5,00,000 50,000 Equity Shares of $10 each (b) Reserves and Surplus : Development Rebate Reserve General Reserve 50,000 1,00,000 1,50,000 1,51,000 (2) Other Liabilities Total Equity and Liabilities 9,00,000 II. Assets Other Assets 8,10,000 90,000 Bank Total Assets 9,00,000 The Redeemaule Preference Shares were redeemed on the following basis : (1) Further 4,500 equity shares were issued at a premium of 10 per cent; (2) of the 50 Preference Shares, holders for 40 shares paid the call before the date of redemption. The balance 10 shares were forfeited for non-payment of calls before redemption. The forfeited shares were reissued as fully paid on receipt of $500 before redemption; (3) Preference shares were redeemed at…
IUuwvie t0 Accountancy Company is: a. P393,000 b. P376,500 c. P390,000 d. P406,500 11. YSL Corporation acquired 80% of the outstanding ordinary shares of GBX Company on June 1, 2022 for P586,250. GBX Company's shareholder's equity components at the end of this year were as follows: Ordinary shares, P100 par, P250,000; Share premium, P112,500 and Retained earnings, P222,5000. NCI is measured at fair value. All the assets of GBX were fairly valued, except for inventories, which is overstated by P11,000 and equipment, which is understated by P15,000. Remaining useful life of equipment is 4 years. Both companies use straight line method for depreciation and amortization. Shareholder's equity of YSL on January 1, 2022 is composed of Ordinary shares, P750,000; Share premium, P175,000 and Retained earnings, P525,000. Fair value of NCI on the date of acquisition is P117,500. Goodwill, if any, should be written down by P14,225 at year end. Net income for the first year of parent and subsidiary…
1. An abstract of the shareholders’ equity of the Camia Co. on December 31,200A appears as follows:Preference Share, Php35 par value, 150,000 shares issued and outstanding Php5,250,000Ordinary Shares, Php25 par value, 300,000 shares issued and Outstanding 7,500,000Premium on Preference Share 450,000Premium on Ordinary Share 600,000Retained Earnings 1,200,000Treasury Share – Ordinary 60,000 The Board of Directors decided to establish a reserve of Php230,000 for contingencies and Php380,000 for plant expansion. Required:1. Record…