Retained Earnings Subscribed Ordinary Shares, 2 000 shares Long-term Notes Payable 5% Preference Shares, P100 par Share Premium-Ordinary Subscriptions Receivable Share Premium-Treasury
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- Long-term debt Notes payable, 11% 8% convertible bonds payable 11% bonds payable Total long-term debt Shareholders' equity Preferred stock, 6% cumulative, $50 par value, 108,000 shares authorized, 27,000 shares issued and outstanding Common stock, $1 par, 10,200,000 shares authorized, 1,020,000 shares issued and outstanding Additional paid-in capital Retained earnings Total shareholders' equity The following transactions have also occurred at Cheyenne. $980,000 4,910,000 5,910,000 $11,800,000 $1,350,000 1,020,000 3,970,000 6,050,000 $12,390,000 1. Options were granted on July 1, 2019, to purchase 180,000 shares at $15 per share. Although no options were exercised during fiscal year 2020, the average price per common share during fiscal year 2020 was $20 per share. 2. Each bond was issued at face value. The 8% convertible bonds will convert into common stock at 50 shares per $1,000 bond. The bonds are exercisable after 5 years and were issued in fiscal year 2019. 3. The preferred stock…The equity of Duffy Ltd at 1.12.2022 was as follows: Share capital Share premium Revaluation reserve Retained profits 100,000 shares of 10p each £ 10,000 30,000 40,000 90.000 170.000 On 10.12.2022, the company made a bonus issue. 10 shares were issued for in such a way as to maximise the retained profits. The double entry reflecting this share issue is which of the following:Prepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair…
- Journalizing issuance of stock—at par and at a premium Colorado Corporation has two classes of stock: common, $3 par value; and preferred $30 par value. Requirements Journalize Colorado’s issuance of 4,500 shares of common stock for $6 per share. Journalize Colorado’s issuance of 4,500 shares of preferred stock for a total of $135,000.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 yearTotal assets Notes payable (6% interest) Common stock Preferred 2.5% stock, $100 par (no change during year) Retained earnings 20Y7 $5,200,000 2,500,000 250,000 Return on total assets December 31 20Y6 $5,000,000 2,500,000 250,000 500,000 1,222,000 500,000 1,574,000 < The 20Y7 net income was $411,000, and the 20Y6 net income was $462,500. No dividends on common stock were declared between 201 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. 20Y7 a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 19.13 % X % 20Y5 $4,800,000 2,500,000 250,000 Return on stockholders' equity Return on common stockholders' equity h The profitability ratios indicate that the company's profitability has deteriorated % 500,000 750,000 20Y6 94.0 X % % % ✓. Because the return on common
- Problem 1. Dividends on Preference and Ordinary Shares The preference and ordinary shares outstanding of ABC Company on December 31, 2020 follows: 8% Preference shares, P10 par, cumulative, participating, 40,000 shares authorized, 10,000 shares issued and outstanding P100,000 Ordinary Shares, P2 par, 10,000,000 shares authorized, 250,000 shares issued and outstanding 500,000 Total Preference and Ordinary Shares P 600,000 Required: Calculate the amount of dividends received by preference and ordinary shareholders, respectively, under each of the following assumptions: 1. Preference dividends for 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P56,000. 2. No dividends are in arrears. On December 31, 2020, ABC declared a total dividend of P66,000. 3. Preference dividends for 2018 and 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P88,000.Earnings Per Share Calculati ons Informatlon Provlded: Common Shares Balance at the beginning of the ye ar On July 1, the company sold an additional 5,000,000 shares 8,000,000 shares Each share sold for $3.00 and had a par value of $ 0.10 Preferrred Shares Beginning of the Year End of the Year 50,000 150,000 Dividends pald to Preferred Shareholders Dividends pald to Common Sharehol ders 650, 000 1,000, 000 Ex ce pt from Income Statement Income from Continuing Operations 22,000, 000 Income from Discontinued Ope rations (aftertaxImpact) 2,100, 000 Net Income 24,100, 000 Requlred: Based on the Information provided above: 1 Prepare the Joumal entry to record the July 1 sale of shares 2 Calculate the welghted average common shares outstandi ng 3 Calculate e arnings pershare (as required). Note: Show your detal led calaulatlons.QUESTION 2Naruto Bakery has a capital structure consisting of:42,000 issued and paid-up ordinary shares RM105,0005,000 issued and paid-up 10% Preference shares RM15,0008% Bonds (10-year maturity) RM30,000The balance of retained earning as at 1 January 2021 was RM75,000. The market priceper unit of the company’s financial instruments are as follows:Ordinary shares : RM2.50 (last dividend paid was RM0.50; growth rate is 5%Preference shares : RM3.008% Bonds : RM890.00 (par value RM1,000)The company is considering to invest in new project worth RM80,000. The floatationcost to sell more shares and bonds are 5%. The corporate tax rate 25%.You are required to calculate (show all workings):b. The company’s cost of debt, preference share, retained earnings and newissuance of ordinary shares.
- Ordinary share, P1 par P4,800,000 Share premium in Excess of Par— Ordinary share 550,000 Preferred 8 1/2% share, P50 par 2,000,000 Share premium in Excess of Par—Preferred share 400,000 Retained Earnings 1,500,000 Treasury ordinary share (at cost) 150,000 The total shareholders' equity of Uub Corporation is a. P9,100,000 b. P9,250,000 c. P7,750,000 d. P7,600,000Question 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.Year 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 share