The following is the account balances at 1 Jan 2019 Share Capital -Preference (6%, $100 par, non cumulative, 5,000 shares authorized) 300,000 Share Capital -Ordinary (5 stated value, 500,000 shares authorized) 1,000,000 Share Premium - Preference 30,000 Share Premium - Ordinary 450,000 Share Premium - Treasury 2,100 Retained Earnings 638.000 Treasury Shares-Ordinary (8,000 shares) 64,000 ** your answers should include numerals only, no dollar sign ("S "), no comma ".". eg five thousand dollars should be input as 5000, otherwise, no marks will be awarded if 6000 treasury shares was sold for $48.000 on 31 March 2019. the Share Premium-Treasury account balance at the end of 31 March 2019 was $ If 1000 treasury shares was sold for $9,000 on 30 April 2019, Share Premium -Treasury account balance at the end of 30 April was $ The retained earnings at the end of 30 April 2019 was $ If 900 treasury shares was sold for $ 4.050 on 31 May 2019, Share Premium -Treasury account balance at the end of 31 May 2019 was S The retained earnings at the end of 31 May 2019 was S

The following is the account balances at 1 Jan 2019 Share Capital -Preference (6%, $100 par, non cumulative, 5,000 shares authorized) 300,000 Share Capital -Ordinary (5 stated value, 500,000 shares authorized) 1,000,000 Share Premium - Preference 30,000 Share Premium - Ordinary 450,000 Share Premium - Treasury 2,100 Retained Earnings 638.000 Treasury Shares-Ordinary (8,000 shares) 64,000 ** your answers should include numerals only, no dollar sign ("S "), no comma ".". eg five thousand dollars should be input as 5000, otherwise, no marks will be awarded if 6000 treasury shares was sold for $48.000 on 31 March 2019. the Share Premium-Treasury account balance at the end of 31 March 2019 was $ If 1000 treasury shares was sold for $9,000 on 30 April 2019, Share Premium -Treasury account balance at the end of 30 April was $ The retained earnings at the end of 30 April 2019 was $ If 900 treasury shares was sold for $ 4.050 on 31 May 2019, Share Premium -Treasury account balance at the end of 31 May 2019 was S The retained earnings at the end of 31 May 2019 was S

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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winter provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10% P50 par (noncumulative and nonparticipating) 1,000,000 Preference share capital, 8% P50 par (cumulative and nonparticipating) 1,500,000 Ordinary share capital, P100 2,500,000 Share premium 500,000 Retained earnings 600,000 Dividends have been paid on the preference share up to December 31, 2018. Book value per 8% preference share
How many are the ordinary shares outstanding after reflecting the foregoing transactions for the year 2019? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
The following is the Stockholders' Equity section of the balance for Spencer Corporation as of December 31, 2019. Stockholders' Equity Common stock, $1 par value; authorized, 10,000,000 shares. Issued and outstanding, 500,000 shares Additional paid-in capital, common stock Retained earnings Total Stockholders' Equity $500,000 3,500,000 6,750,000 $10.750.000 Spencer Corporation declared a 10% stock dividend on January 1, 2020, at which date the fair value of Spencer Corporation common stock was trading at $35 per share. Prepare the January 1, 2020, journal entry to record the declaration of the stock dividend. Date Account Debit Credit
7. How much is the Retained earnings, BEGINNING, unrestricted?
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
G. The stock holders' equity section of the statement of financial position of Calubcub Company at December 31, 2019, is given below: Stock holders' equity: Commons stock, P10 par value. 200,000 shares authorized, 80,000 shares issued and outstanding Premium on Ordinary share capital 800,000 400,000 P 1,200,000 2,500,000 P 3,700,000 P Total paid in capital Retained earnings Total stockholders' equity
1. How much is the total contributed capital as of December 31,2019? 2. How much is the balance of the treasury shares as of December 31,2019? 3. What is the total amount of dividends charged to the retained earnings for the year 2019?
On January 01, 2021, ABC Corporation provided you the following information: Ordinary share capital, 300,000 shares issued, P10 par 3,000,000 Preference share capital, 400,000 shares issued, P20 par 8,000,000 Share premium – ordinary shares 1,200,000 Share premium – preference 2,000,000 Retained earnings 6,000,000 Share transactions for the year 2021: March 10 – Reacquired 80,000 preference shares at P35 per share April 20 – Reissued 30,000 preference treasury shares at P43 per share April 25 - Reissued 10,000 preference treasury shares at P30 per share May 13 – Retired 20,000 preference treasury shares. Journal entry on May 13 should include a.Debit share premium – treasury shares – 200,000 b.Debit retained earnings – 200,000…
Dividends on Preference and Ordinary Shares Required: Calculate the amount of dividends received by preference and ordinary shareholders, respectively, under each of the following assumptions.
ABC Company provided the following information relating to shareholders' equity on December 31, 2020: Preference share capital, P100 par, 80,000 shares issued, 12% cumulative and fully participating, P8,000,000 Ordinary share capital, P50 par, 200,000 shares issued, P10,000,000 Share premium, P5,000,000 Retained earnings, P7,000,000 Dividends on preference shares are in arrears for two years including the current year. On December 31, 2020, ABC Company intends to pay cash dividend of P10 per share to its ordinary shareholders. What is the total amount of dividends to be declared for the preference and ordinary shareholders? (round answer to a whole number)