Question 9 Common stock dividends: are guaranteed to be paid quarterly. O are guaranteed to be paid annually. O must be approved by the corporation's board of directors.
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- Basic Income Statement The following are selected account balances of Rule Corporation at the end of the current year: Rule is subject to a 30% income tax rate, and shareholders own 800 shares of its capital stock. Required: Prepare the income statement for Rule.26. The following form part of shareholder’s equity, except Group of answer choices a. Treasury shares b. Conversion option c. Retained earnings d. Subscription receivable collectible within twelve months after the end of reporting periodPart BDuring 2021, the Nicklaus Corporation participated in three treasury stock transactions: On June 30, 2021, the corporation reacquires 150,000 shares for the treasury at a price of $14 per share. On July 31, 2021, 25,000 treasury shares are reissued at $17 per share. On September 30, 2021, 25,000 treasury shares are reissued at $12 per share. Required:1. Prepare journal entries to record these transactions.2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2021. (Assume net income for the second and third quarter was $2,750,000.)
- Question 7 : Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued 40,000 shares of $50 par value preferred stock and 200,000 shares of $5 par value common stock. At December 31, the company declared the following cash dividends: December2017 $80,000 December2018 195,000 December2019 300,000 Required: 1. Show the allocation of dividends to each class of stock, assuming that the preferred stock is 9% and not cumulative. 2. Show the allocation of dividends to each class of stock, assuming that the preferred stock is 10% and cumulativeD. The stockholders' equity section of SKSU Corporation's balance sheet on December 31, 2019: Common stock, P10 par value; authorized 1,500,000 shares; issued and outstanding 900,000 shares Additional paid-in capital Retained earnings Total stockholders' equity P9,000,000 750,000 2,700,000 P12,450,000 Transactions during 2020 and other information relating to the stockholders' equity accounts were as follows: On January 26, SKSU reacquired 75,000 shares of its common stock for P11 per share. On April 4, SKSU sold 45,000 shares of its treasury stock for P14 per share. On June 1, SKSU declared a cash dividend of P0.95 per share, payable on July 15, 2020 to stockholders of record on July 1, 2020. On August 15, each stockholder was issued one stock right for each share held to purchase two additional shares of stock for P12 per share. The rights expire on October 31, 2020. On September 30, 150,000 stock rights were exercised when the market value of the stock was P12.50 per share. On…Question 17 of 19 The Board of Directors declared a 5% cash dividend on January 1, 2021, to shareholders of record as of January 15, 2021, payable on February 15, 2021. The pro-forma entry on January 15 would be Select the correct response: Dr. Dividends Payable; Cr. Cash O Dr. Dividends Payable; Cr. Retained Earnings O No entry O Dr. Retained Earnings; Cr. Dividends Payable ( Previous
- Question 10 The par value per share of common stock represents: a. an arbitrary amount established in the articles of incorporation b. the amount of dividends per share to be received each year c. the minimum selling price of the stock established by the articles of incorporation. d. the minimum amount the stockholder will receive when the corporation is liquidated. A Click Submit to complete this assessment.Preblem 18-2 (ACP) Endless Company provided the following shareholders' equity on December 31, 2021: Preference share capital, 12% P100 par Ordinary share capital, P100 Share premiumm Retained earnings 1,000,000 4,000,000 2,000,000 1,000,000 Dividends have been paid on the preference share up to December 31, 2019. Required: Compute the book value per ordinary share and per preference share under each of the following conditions with respect to preference share: a. Cumulative and fully participating b. Cumulative and fully participating after ordinary share receives 15% c. Cumulative and participating up to 16% d. Cumulative and nonparticipating e. Noncumulative and nonparticipatingPreferred stockholders 75 K A. are guaranteed to receive an annual dividend payment OB. are guaranteed that they will not have a loss on their investment OC. receive a dividend preference over common stockholders OD. receive a set percentage of corporation net income M
- Required - In accordance with IAS 33 Earnings per share a. Compute basic earnings per share for 2019, b. Compute diluted earnings per share for 2019 , c. State the Presentation and Disclosure requirements The information below pertains to Rainfall plc for 2019. Net Income for the year 8% convertible bonds issued at par ($1,000 per bond); $2,000,000 each bond is convertible into 30 shares of ordinary shares; the liability component of the bonds is $1,800,000 based on a market rate of 9% 6% convertible, cumulative preference shares, $100 par value; each share is convertible into 3 shares of ordinary shares. Ordinary shares, $10 par value $1,200,000 $4,000,000 $6,000,000 Tax rate for 2019 40% Average market price of ordinary shares $25 per share12. The following data are extracted from the shareholders' equity section of the statement of financial position of Dela Cruz Corporation: 12/31/2018 12/31/2019 Ordinary Shares, P2 par value P1,000,000 P1,020,000 Share Premium 500,000 1,000,000 580,000 Retained Earnings 1,046,000 During 2019, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2019. Profit for 2019 was P 46,000. b. P196,000. а. c. P216,000. d. P296,000.12. The following data are extracted from the shareholders' equity section of the statement of financial position of Dela Cruz Corporation: 12/31/2018 12/31/2019 Ordinary Shares, P2 par value P1,000,000 P1,020,000 Share Premium 500,000 1,000,000 580,000 Retained Earnings 1,046,000 During 2019, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2019. Profit for 2019 was P 46,000. b. P196,000. а. P216,000. d. P296,000. С. a 10% ordinary share dividend.