CFAS Company shows the following information on its December 31, 2022 equity items:Authorized share capitalP10,000,000Unissued share capital6,500,000Subscribed share capital1,000,000Subscription receivable450,000Share premium900,000Retained earnings820,000Profit for the year350,000Treasury shares, at cost200,000The balance in the retained earnings represent the final balance at year-end after the closing entries were made.What total amount should be reported by CFAS Company as shareholders' equity (Ignore any tax considerations)?

Calculation of amount to be reported in Shareholders' Equity Amount Shareholders' Equity:…

CFAS Company shows the following information on Its December 31, 2022 equity items: Authorized share capital P10,000,000 Unissued share capital 6,500,000 Subscribed share capital 1,000,000 Subscription receivable 450,000 Share premium 900,000 Retained eanings 820,000 Profit for the year 350,000 Treasury shares, at cost 200,000 The balance in the retained earnings represent the final balance at year-end after the closing entries were What total amount should be reported by CFAS Company as shareholders' equity (Ignore any tax considera

CFAS Company shows the following information on Its December 31, 2022 equity items: Authorized share capital P10,000,000 Unissued share capital 6,500,000 Subscribed share capital 1,000,000 Subscription receivable 450,000 Share premium 900,000 Retained eanings 820,000 Profit for the year 350,000 Treasury shares, at cost 200,000 The balance in the retained earnings represent the final balance at year-end after the closing entries were What total amount should be reported by CFAS Company as shareholders' equity (Ignore any tax considera

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73
Ared Company showed the following shareholders’ equity on January 1, 2020: Share capital 1,000,000 Share premium 2,000,000 Retained earnings 4,000,000 The entity had 400,000 authorized shares of P5 par value, of which 200,000 shares were issued and outstanding. On July 1, 2020, the entity declared a property dividend of inventory payable on March 1, 2021. The inventory had a P1,200,000 carrying amount and a fair value less cost to distribute of P1,000,000 on July 1, 2020. The fair value less cost to distribute is P1,500,000 on December 31, 2020, and P900,000 on March 1, 2021. The net income for 2020 was P3,000,000. - What is the carrying amount of the inventory on December 31, 2020? - What is the amount to be recognized in profit or loss for the distribution of the non- cash dividend?
The equity section of CFAS Company revealed the following information on December 31, 2022: Preference share capital, P100 par P5,000,000 Share premium-preference shares 2,000,000 Ordinary share capital, P50 3,200,000 Share premium-ordinary shares 421,076 Subscribed ordinary share capital 800,000 Retained earnings-appropriated Subscription receivable-ordinary shares 250,000 400,000 Retained earnings- unappropriated 3,500,000 Treasury shares-ordinary 1,000,000 How much is the contributed capital of CFAS Company as of December 31, 2022?
Ared Company showed the following shareholders’ equity on January 1, 2020: Share capital 1,000,000 Share premium 2,000,000 Retained earnings 4,000,000 The entity had 400,000 authorized shares of P5 par value, of which 200,000 shares were issued and outstanding. On July 1, 2020, the entity declared a property dividend of inventory payable on March 1, 2021. The inventory had a P1,200,000 carrying amount and a fair value less cost to distribute of P1,000,000 on July 1, 2020. The fair value less cost to distribute is P1,500,000 on December 31, 2020, and P900,000 on March 1, 2021. The net income for 2020 was P3,000,000. - What amount should be reported as retained earnings on December 31, 2020? - What is the dividend payable on December 31, 2020?
The Following information was lifted from the shareholders equity section of ABC Corp: Share Capital - 10P par value, 280K shares Subscribed Capital Subscription Receivable Share Premium Retained Earnings Treasury Share (at cost, P6/sh) 2,800,000 940,000 530,000 1,025,000 1,700,000 240,000 On June 9, 2020, the BOD declared a 3P per share cash div of record on June 25, 2020 and payable on July 6, 2020. Compute for the Cash dividend payable and RE.
The equity section of BEBEGIRL Company revealed the following information on December 31, 2021: Preference share capital, P100 par P5,000,000 Share premium-preference shares Ordinary share capital, P50 Share premium-ordinary shares Subscribed ordinary share capital Retained earnings-appropriated Unrealized loss on financial assets at FVTOCI 2,000,000 3,200,000 500,000 800,000 250,000 600,000 400,000 3,500,000 1,000,000 Subscription receivable-ordinary shares Retained earnings- unappropriated Treasury shares-ordinary How much is the contributed capital of BEBEGIRL Company as of December 31, 2021?
HHH Company provided for the following shareholders’ equity on December 31, 2020: Share capital, P100 5,000,000 Share premium 1,000,000 Retained earnings unappropriated 1,500,000 Retained earnings appropriated for contingencies 500,000 Revaluation surplus 800,000 8,800,000 Compute for the book value per share on December 31, 2020
Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?
Es Tri Company provided the following information from a comparative statement of financial position: Es Tri Company provided the following information from a compara December 31, 2024 December 31, 2023 Share capital, P5 par 7,500,000 4,500,000 Share premium 52,000,000 40,000,000 Retained earnings 19,500,000 15,500,000 Treasury shares, at cost, 600,000 shares on December 31, 2024 and 400,000 shares on December 31, 2023. 7,000,000 5,000,000 What is the number of outstanding shares on December 31, 2024?
Alpha company reported the following equity accounts on January 1, 2020. Share capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings, P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31, the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?
ABC Company provided the following information for the year ended December 31, 2020: Share Capital P1,000,000 Loss from inventory write-down 150,000 Share premium 1,500,000 Retained earnings, January 1 550,000 Dividends paid 450,000 Loss on sale of trading securities 50,000 Additional information: During the current year ABCCompany issued additional 20,000 shares, 25 par value, for P1,000,000. On October 1, ABCCompany approved a formal plan to discontinue and sell a business segment. The segment had income of P2,000,000 from January 1 to September 30. On December 31, the carrying amount of the assets of the segment was P4,000,000 and the fair value less cost of disposal was P3,000,000. The income tax rate is 30% Required: Prepare statement of changes in shareholders equity