PROBLEM 1: ETC Co. has been paying regular semi-annual dividends to its shareholders. The following are the company's equity transactions: 1.1 4.15 The company has 1,800,000 shares issued and outstanding; total shares authorized is 3,000,000 shares; the par is P2 per share. Issued 100,000 new shares at P5 per share. 5.20 Reacquired 200,000 shares at P8 per share. 6.30 Paid dividend of P2,550,000. 10.13 P2 M of P1,000 bonds were converted into ordinary share at the rate of 50 shares of stock per P1,000 bond. 11.11 Reissued 100,000 shares from the treasury at P6 per share. 12.16 Issued an 11% share dividend. 12.31 Paid semi-annual dividends. The dividend per share is the same as that paid in the first semi-annual period. 1. The dividend per share paid on June 30 2. The amount of dividend to be paid in the December 31, in order to pay the same dividend rate as that paid in the previous semi-annual period,

PROBLEM 1: ETC Co. has been paying regular semi-annual dividends to its shareholders. The following are the company's equity transactions: 1.1 4.15 The company has 1,800,000 shares issued and outstanding; total shares authorized is 3,000,000 shares; the par is P2 per share. Issued 100,000 new shares at P5 per share. 5.20 Reacquired 200,000 shares at P8 per share. 6.30 Paid dividend of P2,550,000. 10.13 P2 M of P1,000 bonds were converted into ordinary share at the rate of 50 shares of stock per P1,000 bond. 11.11 Reissued 100,000 shares from the treasury at P6 per share. 12.16 Issued an 11% share dividend. 12.31 Paid semi-annual dividends. The dividend per share is the same as that paid in the first semi-annual period. 1. The dividend per share paid on June 30 2. The amount of dividend to be paid in the December 31, in order to pay the same dividend rate as that paid in the previous semi-annual period,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Ratio of liabilities to stockholders equity intrest earned The following data were taken from the financial statements of Hunters Inc.for December 31 of two recent years: The income before income tax was $480,000 and $420,000 for the current and previous years,respectively. a. Determine the ratio of liabilities to stockholders equity at the end of each year.Round to one decimal place. b. Determine the times interest earned ratio for both years.Round to one decimal place. c. What conclusion can be drawn from these data as the company's ability to meet its currently maturing debts?
Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands, except share information.) 2022 2021 Net sales $ 1,129,000 $ 1,136,000 Net income (loss) 84,462 70,965 Total assets 855,338 838,078 Share information Shares outstanding at year-end 69,500,000 71,270,000 Preferred dividends There were 78,130,000 shares outstanding at the end of 2020.
Using the data in the table to the right, calculate the return for investing in the stock from January 1 to December 31. Prices are after the dividend has been paid. Return for the entire period is%. (Rourd to two decimal places.) Date Jan 1 Feb 5 May 14 Aug 13 Nov 12 Dec 31 Price $34.01 $29.79 $28.38 $33.82 $37.51 $41.91 Dividend $0.21 $0.21 $0.18 $0.21
On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 73,000 shares of $10 par common stock at $12, and on November 19, it issued for cash 16,510 shares of preferred stock, $45 par at $54. Required: a. Journalize the entries for October 31 and November 19. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
Using the data in the table to the right, calculate the return for investing in the stock from January 1 to December 31. Prices are after the dividend has been paid. I Return for the entire period is%. (Round to two decimal places.) Date Jan 1 Feb 5 May 14 Aug 13 Nov 12 Dec 31 Price $34.08 $32.42 $31.78 $33.83 $37.58 $40.35 Dividend $0.21 $0.21 $0.18 $0.18
Question 68 Using Financial Statements for 2018-2019. Net book value per share of common stock for 2019 is $17.46.
Required information [The following information applies to the questions displayed below.] Raphael Corporation's common stock is currently selling on a stock exchange at $186 per share, and its current balance sheet shows the following stockholders' equity section: Preferred stock-5% cumulative, $_ par value, 1,000 shares $85,000 authorized, issued, and outstanding Common stock-$_ authorized, issued, and outstanding par value, 4,000 shares 200,000 330,000 Retained earnings 615,000 $ Total stockholders' equity
TRUE OR FALSE Earnings per share is found by taking the net income for the year divided by the number of common shares outstanding at the end of the year.
View Policies Current Attempt in Progress A portion of the combined statement of income and retained earnings of Blossom Inc. for the current year follows. Income from continuing operations Loss from discontinued operations, net of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year Dividends declared: On preferred stock-$6.00 per share On common stock-$1.75 per share Retained earnings at the end of the year Extraordinary Loss Income before Extraordinary Loss Net Income /(Loss) BLOSSOM INC. Income Statement December 31 eTextbook and Media Save for Later Note 1. During the year, Blossom Inc. suffered a major loss from discontinued operations of $1,325,200 after applicable income tax reduction of $1,190,000. $276,000 At the end of the current year, Blossom Inc. has outstanding 8,530,000 shares of $10 par common stock and 46,000 shares of 6% preferred. On April 1 of the current year, Blossom Inc. issued 990,000 shares of common stock for $33 per share…
Dividend Yield The market price for Macro Corporation closed at $46.62 and $40.00 on December 31, current year, and previous year, respectively. The dividends per share were $0.69 for current year and $0.80 for previous year. a. Determine the dividend yield for Macro on December 31, current year, and previous year. Round percentages to two decimal places. Current year % Previous year % b. The dividend yield from the previous year to the current year. This is a result of a(n) in the dividend relative to stock price.
Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $24,000; Year 2, $48,000; Year 3, $108,000; Year 4, $138,000; Year 5, $174,000; and Year 6, $210,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative preferred 2% stock, $100 par, and 100,000 shares of common stock, $5 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Total Year Dividends Total Per Share Total Per Share $ 24,000 1.60 x Year 1 %2$ 24,000 Year 2 48,000 48,000…
Required: 1. Calculate the total current assets at December 31, 2021. 2. Calculate the total liabilities and stockholders' equity at December 31, 2021. 3. Calculate the earnings from operations (operating income) for the year ended December 31, 2021. 4. Calculate the net income (or loss) for the year ended December 31, 2021. 5. What was the average income tax rate for the company for 2021? 6. If 48,000 of dividends had been declared and paid during the year, what was the January 1, 2021, balance of retained earnings? Assume that all balance sheet items reflect account balances at December 31, 2021 of ABC Ind, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales 99,000…