Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below:Ordinary Share capital, USD20 par value,authorized 50,000 shares; issued and outstanding30,000 sharesUSD600,000Ordinary Share premiumRetained earningsUSD150,000USD230,000In addition, during the year, these transactions happened:share.2,500 shares were repurchased as treasury shares at a price of USD28500 treasury shares were sold at a price of USD32 per share.700 shares of treasury shares were sold at a price of USD24 per share.а.perb.с.d.Sizzle Company reported a net income of USD120,000 for the current year.Please calculate how many shares of ordinary share capital are outstanding of Sizzle Company afterrecoding all these transactions. Show complete solution and explanation.

The shares in treasury stock are not outstanding as these are not with the shareholders and company…

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 par value, authorized 50,000 shares; issued and outstanding USD600,000 30,000 shares Ordinary Share premium Retained earnings USD150,000 USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. per share. с. d. Please calculate how many shares of ordinary share capital are outstanding of Sizzle Company after recoding all these transactions. Show complete solution and explanation.

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 par value, authorized 50,000 shares; issued and outstanding USD600,000 30,000 shares Ordinary Share premium Retained earnings USD150,000 USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. per share. с. d. Please calculate how many shares of ordinary share capital are outstanding of Sizzle Company after recoding all these transactions. Show complete solution and explanation.

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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Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares par value, USD600,000 Ordinary Share premium USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: а. 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. b. per share. с. d. Sizzle Company reported a net income of USD120,000 for the current year. Please calculate the balance of the Retained Earnings - Unappropriated account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.
Herman Inc. has 180,000 shares of $5 par common stock outstanding at the beginning of the year 2022. The following transactions affecting stockholders’ equity occured suring the year. Assume Paid-in Capital—Treasury Stock has a zero beginning balance. · January 15: Purchased common stock as treasury shares, 6,000 shares at $20. · April 15: Sold common treasury stock, 2,400 shares at $14. The journal entry on April 15, 2022 will include: A) A credit to Treasury Stock for $120,000 B) A debit to Retained Earnings for $14,400 C) A debit to Treasury Stock for $48,000 D) A debit to Paid-in-Capital, Treasury Stock for $14,400
CarFind Inc. showed the following equity information at December 31, 2022 Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings On April 1, 2023, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15, the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 21 share split to shareholders of record on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000. $1,010,000 1,380,000 Required: Prepare the company's equity section on the December 31, 2023, balance sheet. Contributed capital: Total equity CARFIND INC. Equity Section of Balance Sheet December 31, 2023
The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925.000 Additional Paid in Capital 125,000 Retained Earnings 4,500,000 Shareholder's Equity 5,550,000 The following transactions took place: Aug 10-Reacquired 6,000 ordinary shares for treasury at P60 per share Aug 12- 2,500 treasury shares were sold at P62 per share Aug 20- Another 1,000 treasury shares were sold at P55 per share Aug 31- 1,000 treasury shares were retired Required: Journalize each transaction and compute for the new balance of Shareholder's Equity.
For the current year ended, ABC had the following transactions: - Issued 10,000 shares of $2.00 par value common stock for $12.00 per share. - Issued 3,000 shares of $50 par value 6% preferred stock for $70 per share. - Purchased 1,000 shares of previously issued common stock for $15.00 per share. - Reported net income of $200,000. - Declared and paid a total dividend of $40,000. Assume that retained earnings had a beginning balance of $75,000. The company does not have any stock outstanding as of the beginning of the current year. $15,000 Drag answer here $235,000 Drag answer here $150,000 Drag answer here $60,000 Drag answer here $20,000 Drag answer here $330,000 Drag answer here $100,000 Drag answer here $550,000 Drag answer here Treasury stock Retained earnings Preferred stock Total paid-in capital Excess of issue price over par (common) Total stockholders' equity Common…
blue Bay Logistics Ltd.'s shareholders' equity accounts were as follows at the beginning of the current fiscal year, April 1, 2009:$6-cumulative preferred shares (20,000 shares issued) $1,800,000Common shares (500,000 shares issued) 3,750,000Contributed capital-reacquisition of common shares 50,000Retained earnings 1,500,000Total shareholders' equity $7,100,000During the year, the following selected transactions occurred:June 1 Reacquired 22,800 common shares for $9 per share.July 1 Issued 52,000 common shares for $10 per share.Feb. 28 Declared the annual preferred dividend to shareholders of record on March 12, payable on April 1.Mar. 31 Net earnings for the year ended March 31, 2009, were $1,021,350.Calculate the weighted average number of common shares for the year.
Tezos Co. reported the following capital structure at the beginning of the current year: Ordinary share capital, 200,000 shares issued and outstanding; Preference share capital, 50,000 shares issued and outstanding On January 3, the company declared at 10% share dividend on ordinary shares and a P200,000 cash dividend on preference shares. The preference shares are non-cumulative, non-participating. At the end of the current year, net income amounted to P1.92 million. What is the appropriate amount to report as basic earnings per share?
CNZ Co. had 1,270,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred: 1 August 20X8—5,700 share options with an exercise price of $42 per share, were exercised. 1 October 20X8—A 5:1 stock split was completed. 1 February 20X9—The company repurchased 507,000 shares for $27 each. For the year ended 31 May 20X9, the company reported net earnings of $1,726,500. Required:Compute the basic EPS for the company for the year ended 31 May 20X9. (Do not round intermediate calculations and round your answer to 2 decimal places.) Basic EPS =
On January 1, 2010, the accounts of Mac Corporation showed the following: Common stock, par SI, authorized 100.000 shares Capital in excess of par value ($2 per share) Retained carnings 60,000 140,000 During 2010, the following transactions occurred affecting stockholders' equity (in the order given) A B. C. D. Issued a 100° stock dividend when the market price was at $5 per share. Purchased treasury stock, 1.000 shares at a total cost of $8.000. Declared and paid cash dividends. SI5.000. Net income for 2010. S25.000
On January 1, 2017, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 90,000 shares of common stock for $675,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 5,000 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Net income for 2017 amounted to $951,000.Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit
The annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $140.000 in the current year. It also declared and paid dividends on common stock in the amount of $2.40 per share. During the current year, Sneer had 1 milion common shares authorized; 340,000 shares had been issued; and 136,000 shares were in treasury stock. The opening balance in Retained Earnings was $840,000 and Net Income for the current year was $340,000 Required: 1. Prepare journal entries to record the declaration, and payment, of dividends on (a) preferred and (b) common stock. 2. Using the information given above, prepare a statement of retained earnings for the year ended December 31 3. Prepare a journal entry to close the dividends account.
At December 31, the stockholders' equity section shows: Ordinary share capital, P5 par value; 1,320,000 shares issued and 1,200,000 shares outstanding P6,600,000 Share Premium P1,400,000 Retained earnings P500,000 Treasury shares, (120,000 shares) P700,000 Total shareholders' equity P7,800,000. How much is the book value per share?