Tania Company's stockholders' equity section of its December 31, 2019 balance sheet was as follows: • Common stock authorized 100,000 shares; issued 60,000 shares, P100 par, P6,000,000 • Additional paid-in capital, P3,000,000 • Retained earnings, P4,000,000 • Treasury stock, 10,000 shares at cost, P900,000 During 2020 Tania reissued 3,000 shares of the treasury stock at P120 per share and the remaining were retired. The net income for the year is P455,700. The retirement of treasury shares has resulted in a share premium of how much?

Q: The December 31, 2021, balance sheet of MBI Company included the following:           Common stock,…

A: Journal entries in the books of accounts are recorded to prepare a proper report of the transactions…

Q: The shareholders’ equity of Core Technologies Company on June 30, 2020, included the following:…

A: The stock dividend can be defined as the distribution of common shares to shareholders instead of…

Q: Required: 1. During 2024, TNL Systems reacquired shares of its common stock and later sold shares in…

A: Shareholder’s equity helps investors and other companies in analyzing the growth or financial…

Q: The entry to record the sale on the books of Image should include:

A: A. Total par value of share = P 360000 B. Total number of treasury share = 2000 C. Par value of each…

Q: On December 31, 2020, Vitners Company had outstanding 400,000 shares of common stock. There were…

A: Introduction:- There were 400,000 shares of common stock and 40,000 shares of 8% cumulative…

Q: The NiceWay Corporation's statement of financial position shows the total stockholders' equity of…

A: The book value per share is calculated as total shareholders equity divided by number of shares…

Q: STW Company reflects the following balances in the shareholders' equity section as of July 1, 2019.…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Paid-in capital:             Preferred stock, $120 par value, 5%, cumulative, 100,000 shares…

A: Solution: Amount of common stock on Balance sheet at May 31, 2019 = issued shares * Par value per…

Q: Tania Company's stockholders' equity section of its December 31, 2019 balance sheet was as follows:…

A: These are the accumulated profits of a company. The company’s annual net income would be used to pay…

Q: 6. Tania Company's stockholders' equity section of its December 31, 2019 balance sheet was as…

A: The reserve is the amount that is set apart for meeting the requirements of the entity for various…

Q: Air Travel showed the following in its equity section of the balance sheet, Aug.31, 2020, record the…

A: The treasury stock includes the own shares purchased by the company from the shareholders.

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A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Bacon Inc. has the following stockholders’ equity section in its May 31, 2019, comparative balance…

A: The horizontal model is the one which is used to show the effect of each transaction on the…

Q: The stockholders’ equity account balances of Image Corporation as of December 31, 2020 are as…

A: the par value of shares     25000000/25000              100 share premium…

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A: Transactions are recorded chronologically following the rules of accounting.

Q: At the end of 2019, Haley Corporation had the following equity accounts and balances: Common stock,…

A:

Q: The stockholders' equity of Bonita Industries at July 31, 2021 is presented below: Common stock,…

A: Formula: Dividend per share = Current market price on August 01, 2021 x Stock dividend rate

Q: 19. The stockholders’ equity account balances of Image Corporation as of December 31, 2020 are as…

A: The treasury stock includes the repurchased own shares from the market.

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A: Solution: Preferred dividend paid = Annual preferred dividend * 1/2  = (74000*$120*5%) * 1/2  =…

Q: Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020. -…

A: Note : treasury shares do not entitle to stock dividend. On 30 September 30℅ stock dividend declared…

Q: Bacon Inc. has the following stockholders’ equity section in its May 31, 2019, comparative balance…

A: SPLITTING OFF SHARE   A stock split is a decision by a company's board of directors to increase…

Q: Party Company reported total assets of P1,050,000 and total liabilities of P680,000 in its December…

A: Shareholders' equity is the capital for the company that is held in hands of the shareholders of the…

Q: ccount as of December 31, 2

A: The retained earnings are the earnings of the business that are retained for the future purpose of…

Q: Gary Company reported the following amounts in the equity section of its Dec. 31, 2020, statement of…

A: Retained earnings are defined as the profits saved by an entity since its inception. These…

Q: The equity section of JUJI Corporation as of December 31, 2018, was as follows: Share…

A: Calculation of retain earnings as on March 1, 2019 :   Particulars  Amount (P) Retained…

Q: Pharoah Inc. began operations in January 2018 and reported the following results for each of its 3…

A: The term book value refers to the worth of a company as shown in its financial statements books, or…

Q: Bacon Inc. has the following stockholders’ equity section in its May 31, 2019, comparative balance…

A: calculation of par value , market price and number of share in treasury and other necessary…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.