Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances: Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding Share premium - ordinary shares ? 280,000 75,000 75,000 80,000 Treasury shares at cost Retained earnings, appropriated for treasury shares Retained earnings, appropriated for contingencies Retained earnings, appropriated for bond redemption Retained earnings, unappropriated What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign). 180,000 150,000

Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances: Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding Share premium - ordinary shares ? 280,000 75,000 75,000 80,000 Treasury shares at cost Retained earnings, appropriated for treasury shares Retained earnings, appropriated for contingencies Retained earnings, appropriated for bond redemption Retained earnings, unappropriated What is the amount available for distribution as dividend? Give your answer in this format XXX,XXX (disregard the pesos sign). 180,000 150,000

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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Tipp Corporation's adjusted trial balance on December 31, 2XX1 includes the following account balances: Ordinary share capital, P10 par, 60,000 shares issued, 55,000 shares outstanding Share premium - ordinary shares Treasury shares at cost Retained earnings, appropriated for treasury shares Retained earnings, appropriated for contingencies Retained earnings, appropriated for bond redemption Retained earnings, unappropriated What is the total shareholders' equity? Give your answer in this format X,XXX,XXX (disregard the pesos sign). ? 280,000 75,000 75,000 80,000 180,000 150,000
Way Company's adjusted trial balance at December 31, 2021 includes the following: Ordinary Share Capital, P5 par P360,000 Share Premium - Ordinary 480,000 Treasury Shares, at cost 30,000 Share Premium - Preference 12,000 Retained Earnings 90,000 Preference Share Capital, P10 par 120,000 What amount should Way report as total shareholders' equity in its December 31, 2021 statement of financial position?
A company reported the following information on December 31, 2021: Preference share, P100 par P230,000 Share premium - Preference 80,000 Ordinary share, P15 par 525,000 Share premium - Ordinary 275,000 Subscribed ordinary share 5,000 Retained earnings 190,000 Share dividends distributable 40,000 Subscription receivable - Ordinary 40,000 Determine the total shareholders' equity.
Robinson Industries reported the following statement of shareholders' equity for the year ended 31 December 20X7: Other Contributed Reserve re: Preferred Capital (All Sources) 2,988 Common Unrealized Gains, Earnings Investments $ 98 Share Share Retained Capital $ 9,012 $ 5,047 11,504 (2,565) Capital Balance, January 1, 20X7 6,247 Issuance of common shares for cash Retirement of common shares (1,716) (1,614) (3,207) Costs associated with equity issue Stock dividend 634 Comprehensive income Retirement of preferred shares 3,545 (200) $ 4,771 43 (3,680) $ 18,585 $ 1,367 (556) Balance, 31 December 20X7 $ 716 $141
The following information was taken from the accounting records of ATLANTA Company for the year ended December 31, 2021: Net income during the year, P2,250,000Proceeds from the issuance of preference shares, P4,000,000Dividends paid on preference shares, P400,000Bonds payable converted to ordinary shares, P2,000,000Payment for purchase of machinery, P500,000Proceeds from sale of plant building, P1,200,000Retirement of bonds payable at face value, P2,500,0002% bonus issue on ordinary shares, P300,000Purchase of ordinary treasury shares, P120,000Payment for the purchase of debt securities at amortized cost, P450,000Gain on sale of plant building, P200,000Depreciation expense, P188,000Doubtful accounts expense, P87,000Increase in accounts receivable, P325,000Decrease in merchandise inventory, P129,000Increase in investments in equity securities at FVTPL, P440,000Increase in accounts payable, P90,000Decrease in accrued expenses, P225,000Increase in income tax payable, P117,000 How much is…
The accounts below appear in the December 31 trial balance of Cassy Company: Compute the amount of total shareholder’s equity that Cassy should report in itsDecember 31 statement of financial position
IamLearning Corporation showed the following balances in its financial records as of December 31: Current Assets- P1,880,000 Current Liabilities- P550,000 Non-current Assets- P2,000,000 Non-current Liabilities- P1,450,000 Outstanding ordinary shares, beginning- 1,200,000Outstanding ordinary shares, ending- 1,650,000 IamLearning Corporation issued additional 300,000 ordinary shares on June 1 and another 150,000 ordinary shares on Nov 1 as part of its financing plan. What is the book value per share of IamLearning Corporation as of December 31? a. Php1.37 b. Php1.18 c. Php1.34 d. Php0.94
The accounts below appear in the December 31, 2020 trial balance of Moon Company: Authorized share capital P5,000.000 Unissued share capital 2,000,000 Subscribed share capital 1,000,000 Subscription receivable 400,000 Share premium 500,000 Retained Earnings unappropriated 600,000 Retained Earnings appropriated 300,000 Revaluation surplus 200,000 Treasury shares at cost 100.000 In its December 31, 2020 statement of financial position, Moon should report total shareholders' equity at?
At the end of the accounting year, December 31, 2007, Emme’s records reflected the following: (Compute for the total stockholders' equity) A. 120,000 B. 121,000 C. 125,000
Prior to subscription of Color, the accounting equation of Rado’s corporation is:Asset=Liabilities+Equity P1,000,000 P 250,000 P 750,000 Color subscribed 2,500 shares at P100 par that will be due and collectible 18 months from December 31, 200B, the balance sheet date of Rado. After subscription of Color, the accounting equation of Rado would be Total AssetsTotal LiabilitiesStockholders equity a.P1,250,000P250,000P1,000,000 b.P1,250,000P500,000P 750,000 c.P1,000,000P250,000P 750,000 d.P1,000,000P500,000P 750000
An entity provided the following shareholders' equity at year-end:Ordinary share capital, P100 par, 72,000 shares 7,200,000Subscribed ordinary share capital, 12,000 shares 1,200,000Subscription receivable 400,000Treasury shares, 4,000 at cost 600,000Retained earnings 2,000,000What is the book value per ordinary share?
MCG Company's adjusted trial balance at December 31, 2021, includes the following: Ordinary share capital, P5 par P360,000 Share premium 480,000 Treasury shares, at cost 30,000 Cumulative net unrealized loss on equity securities at fair value through other comprehensive income 12,000 Retained appropriated for contingencies 90,000 Unappropriated retained earnings 120,000 What amount should MCG report as total shareholders' equity in its Deember 31, 2021 statement of financial position? (A) P1,068,000 B P1,008,000 (c) P1,032,000 D) P1,092,000