Question 12 of 30 When preference share is sold on a subscription basis involving a 25% down payment and the balance in two equal installments. The collection of the first installment is recorded by Select the correct response: a debit to Cash and a credit to Share Capital-Preference O a debit to Subscription Receivable-Preference and a credit to Subscribed Share Capital-Preference a debit to Cash and a credit to Subscription Receivable-Preference O a debit to Subscribed Share Capital-Preference and a credit to Share Capital-Preference
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- 48 The Sunland Products Co. currently has debt with a market value of $300 million outstanding. The debt consists of 9 percent coupon bonds (semiannual coupon payments) which have a maturity of 15 years and are currently priced at $1,434.63 per bond. The firm also has an issue of 2 million preferred shares outstanding with a market price of $10 per share. The preferred shares pay an annual dividend of $1.20. Sunland also has 14 million shares of common stock outstanding with a price of $20.00 per share. The firm is expected to pay a $2.20 common dividend one year from today, and that dividend is expected to increase by 5 percent per year forever. If Sunland is subject to a 40 percent marginal tax rate, then what is the firm's weighted average cost of capital? Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen…Question Two The Whispering Cove plc has provided the following as at December 31, 2017 Cost of Sales Closing Stock 10% Debenture Debenture Interest General Reserves Retained Earnings Goodwill Ordinary Share Capital @ $2 10% Preference Share Capital @ $1 Sales Turnover Debtors Bank Administrative Costs Selling and Distribution Costs Property Plant & Equipment Motor Vehicle Provision for Depreciation on Motor Vehicle Creditors Interim Ordinary Shares Dividend Additional Details Provided DR 700.000 210,000 20,000 20,000 200,000 60,000 122,000 139,000 600,000 500,000 CR 350,000 1. Prepa the lowing for year ending December 31, 2017 : a) The Statement of Profit and Loss 40,000 b) The Statement of Change in Equity NOTE: The Statement of Financial Position is NOT required 2. State three factors that may influence a company's decision to pay dividends 400,000 400,000 1,300,000 8,000 5,000 2,576,000 2,576,000 40,000 38,000 1. The motor vehicle is to be depreciated at 10% p.a. on the reducing…OPTIONAL: D1 Numerator OPTIONAL: D1 Denominator OPTIONAL: D1 OPTIONAL: N of D1 (four decimals)
- Question no 3The market price of the ordinary shares at 31 December 2020 was Rs1.60. The dividend yield on ordinary shares was 2.5 per cent. The creditor for taxation at 31 December 2019 was Rs25 000. Taxation paid in the year ended 31 December 2020 amounted to Rs22 000. The liability for taxation on the profit of the year ended 31 December 2020 is Rs31 000 and is carried forward on the Taxation account. The retained profit for the year ended 31 December 2020 was Rs60 000. The debentures were issued in 2016. The preference shares were issued at par. The summarized Balance Sheet at 31 December 2020 of Iqra Ltd was as: Fixed assets 2550000, Net current assets 950000, 6% debentures 2019/2020 150000, Ordinary shares of Rs1, 2500000, 10% redeemable preference shares of Rs1, 300000, Share Premium account 200000 Profit and Loss Account 350000. REQUIRED Prepare Iqra Ltd’s Profit and Loss Account for the year ended 31 December 2020 in as much detail as possible. The Profit and Loss Account…60 Analyze the following: I – Cumulative preference dividends in arrears should be reported as a note disclosure. II – Depreciable assets which are part of the component held for sale shall be depreciated. III – According to PAS 10, date of authorization for FS issuance is when the board of directors approves the release of financial statements regardless of the approval of the stockholders. Given these, we can conclude that: Group of answer choices Only statement I is true. Only statement II is false. Only statements II and III are false. Only statement III is false.Question 6: Myrnam Co. has the following investments held for trading on December 31, 2021: Carrying Value 185,000 125,000 230,000 540,000 Fair Value Category FVTPL Security Co. M common shares Co. N preferred shares Co. P common shares 160,000 140,000 190,000 490,000 FVTPL FVTOCI Total Instructions: a. Prepare the adjusting entries required at December 31 to report the above investments at fair value. b. Show the financial statement presentation of the investments and holding gains and losses that result from fair value adjustments at December 31, 2021. (Ignore income tax.) c. Assuming that on April 25, 2022, Myrnam sold Co. M common shares for $160,000, Co. N preferred shares for $135,000, and Co P common shares for $200,000, prepare the journal entries required to record these transactions. Round amounts to the nearest dollar. Show ALL calculations
- Question 2 continued (last part) (2) Share capital The increase in the share capital during the year is due to the following events: (i) On 1 April 2019, there was a bonus issue (out of the revaluation reserve) of one bonus share for every 10 shares held. (ii) The convertible loans were converted at a rate of 50 shares for every £100 of the loan. (iii) The remaining increase in the ordinary share capital was due to the issue of shares for cash on 1 March 2020. (3) Retained earnings 31 March 2020 31 March 2019 £000 £000 Opening balance 4,100 4,500 Profit for the year 2,300 1,500 Dividends (5,300) (1,900) 1,100 4,100 (4) Trade receivables Trade receivables on 31 March 2020 include £10,000 relating to the sale of the plant. (5) Amortisation of government grants Government grants of £300,000 were credited to cost of sales during the year ended 31 March 2020.…19 and 20 i need answers and urgent thankssPlz solve for A and B it’s timed!!
- E NAME: SECTION: SCORE: PROFESSOR: Problem #23 SECTIO Dividends on Preference and Ordinary Shares Problen Dividen Lord Aguilar Corp. plans to declare and distribute a dividend in December 2018. There Alt ordinary shares, P1 par value. No dividend was paid in the previous year. The pre Required: Determine the amount of the dividends that should be paid to the preference and ordinary shareholders if the preference shares 2018 fo 1. cumulative and nonparticipating and the total amount that the board of directors has specified for dividends is (a) P100,000, (b) P168,000, (c) P200,000. 2. cumulative and participating and the total amount that the board of directors has specified for dividends is (a) P100,000, (b) P168,000, (c) P200,000. Calcula respec 1. Pr- de 3. PmYear 2 Year 1 Preference share, par value P50, 10%. Ordinary share, par value P20. Share premium - ordinary share.. Retained earnings... P100,000 400,000 P100,000 400,000 100,000 100,000 140,000 120,000 Net income 60,000 10,000 80,000 Dividends on preference share Dividends on ordinary share Market price per share, Dec 31. 10,000 50,000 40,000 28.00 21.00 Instruction: Determine the following A. Price-earnings ratio B. Dividend yield ratio C. Payout ratio D. Return of Equity E. Book value per shareProblem 6 (Adapted)Anna company presented the following account balances in the shareholders’ equity section for the year ended December 31, 2018: Preference share capital, 12% P50 par, P3,000,000, Ordinary share capital, P100 par, P6,000,000 and deficit, (P1,350,000). No dividends have been paid on the preference share since 2016. Determine the book value per share under the following conditions:a. Preference share is preferred as to assetsb. Preference share is preferred as to dividend