Problem 15JMD Ltd has an authorised capital of $ 10,00,000 divided into equity shares of $ 10 each. The companyinvited applications for 90,000 shares. The issue was fully subscribed and paid except the final call of $ 2per shares on 2,000 shares. Compute(i)Authorised CapitaIssued CapitalSubscribed and fully paid Capital andSubscribed but not fully paid Capital(ii)(iii)(iv)

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Answered: Problem 15 JMD Ltd has an authorised…

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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Q. question 1
Contributed capital: Western Grass, Inc. Equity Section of Balance Sheet December 31, 2823 Preferred shares, $3 cumulative, 10,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 65,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 75,000 552,500 627 500 581 000 $1,208,500 Required: Using the Information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares
Problem 6: Treasury Shares year 20x1: Valientes Corporation reported the shareholders. Equity at the beginning of the Ordinary share, P10 par, outstanding 225,000 shares Share Premium Retained Earnings 2,250,000 1,500,000 2,000,000 During the year, the entity had the following treasury shares transactions: Acquired 10,000 treasury shares for P500,000. Sold 5,000 treasury shares at P60 per share - Sold 2,000 treasury shares at P45 per share. Required: a. Prepare the journal entries b. Prepare the shareholders' equity at the end of the year
Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
ACCA 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.
QUESTION 1 Ava Consulting issued 1180 shares of previously unissued common stock with a par value of $1. The selling price for the stock was $5 share The credit to Additional Paid in Capital - Common Stock would be $ per
Effect of financing on earnings per share
Question Content Area Alma Corp. issues 870 shares of $6 par common stock at $19 per share. When the transaction is journalized, credits are made to a. Common Stock, $16,530. b. Common Stock, $5,220 and Paid-In Capital in Excess of Par—Common Stock, $11,310. c. Common Stock, $11,310 and Paid-In Capital in Excess of Stated Value, $5,220. d. Common Stock, $5,220 and Retained Earnings, $11,310.
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