QC 46. RETAINED EARNINGSProblem 26-1 (AICPA Adapted)East Company had sufficient retained earnings in 2017 as a basis fordividends but was temporarily short of cash.The entity declared a dividend of P1,000,000 on April 1, 2017, andissued promissory notes to the shareholders in lieu of cash.The notes, which were dated April 1, 2017, had a maturity date of March31, 2018 and a 10% interest rate.How should the scrip dividend and related interest be accounted for?a. Debit retained earnings P1,100,000 on April 1, 2017.b. Debit retained earnings P1,100,000 on March 31, 2018.c. Debit retained earnings P1,000,000 on April 1, 2017 and debitinterest expense P100,000 on March 31, 2018.d.Debit retained earnings P1,000,000 on April 1, 2017 and debitinterest expense P75,000 on December 31, 2017.

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Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

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ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

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Chapter4: Analysis Of Financial Statements

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The following information related National United : 2017 2018 2019 Net income Total assets Total Owners Equity Retained Earnings Dividends decaled during the year $1200 $1420 40000 42000 45000 21000 22000 990 870 1090 0.0 *on Jan.15/ 2017 Company declared and paid the whole balance of retained earnings as cash dividends. But did not declared dividends during 2018. Find the following amounts: 13- Net Income for 2017 14- Dividends declared during 2019 (
An entity provided the following information on December 31, 2025: 200,000 Retained earnings unappropriated, January 1 Overdepreciation of 2014 due to prior period error Net income for 2015 100,000 1,300,000 300,000 Retained earnings appropriated for treasury shares (original balance is P500,000 but reduced by P200,000 by reason of reissuance of the treasury shares) Retained earnings appropriated for contingencies 800,000 (beginning balance P700,000 but increased by current appropriation of P100,000) Cash dividends paid to shareholders 500,000 Change in accounting policy from FIFO to average - credit 150,000 adjustment What is the balance of unappropriated retained earnings on December 31, 2025?
Prepare a classified balance sheet (Statement of Financial Position) for Yu Company from the following account balances as of Dec. 31, 2017. Use report form with supporting notes.
Weed Company prepared a draft of its 2020 Statement of Financial Position. The draft statement reported current liabilities totaling P2,000,00O. However, none of the following items were included in this preliminary total at December 31, 2020. At which amount should Weed Company's current liabilities be correctly reported in the December 31, 2020 Statement of Financial Position? * Bank overdraft 45,000.00 Advances from customers 185,000.00 Share dividends payable Accrued interest on bonds payable 300,000.00 170,000.00 Unearned rent income 450,000.00 Mortgage Payable 800,000.00 Bonds payable due 2021 500,000.00 Discount on bonds payable due 2021 50,000.00 Bond issue costs 10,000.00
What is the weighted number of outstanding ordinary shares for 2017? 310.5M 291.87M 270M 285.78M
Paulson Company had the following on the dates indicated:12/31/18 12/31/17Total assetsTotal liabilities$ 530,00036,000$ 350,00023,000Paulson had no stock transactions in 2018, so the change in stockholders’ equity for 2018 wasdue to net income and dividends. If dividends were $75,000, how much was Paulson’s netincome for 2018? Use the accounting equation and the statement of retained earnings.a. $92,000b. $242,000c. $167,000d. $317,000
NotExist Inc. reports the following dollar balances in its retained earnings account. 2020 $4,600 million 2021 $4,200 million NonExist Inc. also reports the following dollar amount of net income (loss). 2020 $400 million 2021 ($200) million What amount of dividends, if any, did NotExist pay to its shareholders in 2021? (Assume there is no other transactions affect retained earnings.)
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QUESTION 4 (20 Marks) REQUIRED Use the information provided below to answer the following questions. Note: Use the formulas provided in the formula sheet only (that appear after QUESTION 5). The answers to the ratios must be expressed to two decimal places. 4.1 Calculate the ratio that determines the company's profitability after the cost of sales have been deducted from the sales. (2 marks) 4.2 Compare the earnings per share with the dividend per share for 2023. What conclusions can you draw from this comparison? (4 marks) 4.3 Will the shareholders be satisfied with the return earned by the company on the own capital? Motivate your answer by using an appropriate ratio. (3 marks) 4.4 Comment on the ability of the company to settle its short-term obligations with just its most liquid current assets. Use a ratio to support your answer. (3 marks) 4.5 Comment on the effectiveness with which the company has managed the inventory, debtors and creditors. Support your answer by calculating the…
Please answer in good accounting form. Thankyou What is the retained earnings balance ending December 31, 2021?
Analysis of BEIJING Company accounts disclosed changes in the following balances for 2021: Cash, P598,000 increase Accounts receivable, P1,125,000 decrease Inventory, P1,000,000 increase Equipment (net), P710,000 increase Accounts payable, P395.000 decrease BEIJING sold 115,000 shares of its P5 par ordinary shares at P8 each and received cash in full. Dividends of P195,000 were paid in cash during the year, Lastly, equipment of P319,000 was donated by a shareholder during the year. How much is the profit/(loss) of BEIJING Company for the year? (Note: If your answer is a profit, indicate a positive amount. If your answer is a loss, indicate a negative amount)
Sunland Corporation reported the following information (in thousands) at December 31, 2018: 2018 2017 Dividends payable $ 20 $ 5 Bank loan payable—current portion 300 300 Bank loan payable—non-current portion 420 300 Common shares 640 415 Retained earnings 760 515 Additional information: 1. The bank loan was increased by additional borrowings of $300 to partially finance the purchase of new equipment that cost $520. The bank loan was decreased by repayments. 2. Common shares were issued during the year. None were reacquired. 3. Dividends were paid during the year. 4. Net income for the year was $420. Prepare the financing activities section of Sunland ’s statement of cash flows for the year. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SUNLAND CORPORATIONStatement of Cash Flows (Partial)($ in thousands)…

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