Problem 19-1 (ACP) current year: 5,000,000 1,600,000 600,000 Income before tax Income tax Loss from discontinued operations
Q: 2) ABC Company pays John $12 an hour and he worked 30 hours in week one and 60 hours in week two.…
A: Payroll: It implies to the compensation that is paid by the entity to it's employees for the work…
Q: Cante purchased 80% of Loupe for $600 000 two years ago when Loupe's retained earnings showed a…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Branch purchased 160,000 worth of merchandise for 50% cash and balance on account. Delivery charge…
A: Branch accounting is the one where one entity has further branches in different countries and a home…
Q: Cash P 84,000 Accounts Receivable 48,000 Accrued Service Income 13,000 Prepaid Expenses 18,000…
A: Introduction: Current Assets: The Assets which can be easily converted in to cash with in 12 months…
Q: Walrus Co. becomes a member of a partnership in 2021. Walrus Co. has a June year-end while the…
A: Financial year: It implies to a twelve month period that is used by corporates, government, and…
Q: On October 31, 2021, Aaron, Nono and Enok who share earnings 5:3:2, respectively, decided to…
A: Liquidation means where the business of firm is closed down , assets are sold out and liabilities…
Q: Assume that the expected common stock dividend per share at time 1 is expected to be $6 per share.…
A: Given to us is the capital structure of the organization based on which we need to calculate the…
Q: A firm is considering purchasing equipment that will reduce costs by P40,000. The equipment costs…
A: GIVEN . A firm is considering purchasing equipment that will reduce costs by P40,000. The…
Q: bank statement $ 9,915 cash general ledger account (bo0 eposit of $ 2,600 is not on the ban
A: The answer has been mentioned below.
Q: he. 34.30 anuary Crystal Charm made 1520 charms. The company used S07 ounces t of $2.022 90) and…
A: The answer has been mentioned below.
Q: Compute the book value of an asset with FC of ₱4 500 000 after 7th year if it has useful life of 13…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: In preparation for developing its statement of cash flows for the year ended December 31, 2021,…
A: Cash flow from investing activities: Cash flow from investing activities shows the cash generated or…
Q: On December 31, 2020, Cleeneth Company leased equipment under a finance lease. Annual lease payments…
A: Calculation of Lease liability for the year 31st Dec , 2020.
Q: Accounts Payable S600 Accounts Receivable $5,200 Cash $27,000 Loan Payable in 6 months $4,400…
A: Introduction: Net Assets: Deduction of Total liabilities from Total Assets value derives the Net…
Q: PV$1 PVA 10 6% 0.558395 7.360087 10 7% 0.508349 7.023582 20 3% 0.553676 14.87747 20 3.5% 0.502566…
A: Bonds- A bond is a fixed-income tool that represents a loan made by a shareholder to a borrower…
Q: On March 1, 2021, Rey Fernan Refozar, a medical board topnotcher, started his medical practice.…
A: Journal Entries are prepared to record transaction in the books of account. Generally Accepted…
Q: A worker in a certain company has a daily rate of Php 547, he needs to finish the tasks for 18 days,…
A: Direct labor cost is a part of wages that could be directly assigned or identified to the product…
Q: A firm earns $60 billion in profits and pays $45 billion in dividends for the year. The firm has 3…
A: Dividend Payment to common stockholders = Total dividend paid - Dividend Payment to Preferred…
Q: It is desired to determine the present economic value of an old machine by considering of how it…
A: PV stands for Present value which could be determined through discounting the future cash flow of…
Q: On September 3, 2016, Ivory Company acquired an apartment building for $1,500,000 (with $300,000…
A: Straight line method is also called fixed installment method, original value method, It is one of…
Q: On January 1, 2016, Indians Corporation bought a factory equipment for P924,000 salvage value was…
A: Lets understand the basics. In double declining balance method, depreciation is calculated at the…
Q: a. $40,000
A: Internal rate of return refers to the method of financial analysis for computing the profitability…
Q: Provide the missing data in the following table for a distributor of martial arts products: (Round…
A: Formula: Margin = Net operating income / Sales Turnover = Sales / Average operating assets ROI = Net…
Q: Audio-2-Go, Inc., manufactures MP3 players. Models A-1, A-2, and A-3 are small and light. They are…
A: Sales forecast refers to the procedure of estimating the future revenue through predicting the…
Q: Lieu Company is a specialty print shop. Usually, printing jobs are priced at standard cost plus 50…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: JKZ company purchased a lathe machine worth 120,000 which has a salvage value of 20,000 after 5…
A: Depreciation per annum is calculated as = (Cost - Salvage Value) / Number of years The depreciation…
Q: Tiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of…
A: Solution:- 1)Preparation of a merchandise purchases budget in bottles of vitamins for as many…
Q: Condensed statements of financial position of Leni and Kiko as of December 2021 are as follows: Leni…
A: Whenever one company takes over all the assets and liabilities of another company, the combined…
Q: Cash P 84,000 Accounts Receivable 48,000 Accrued Service Income 13,000 Prepaid Expenses 18,000…
A: Current assets: Assets that are expected to be sold or used within one year are classified as…
Q: Beta Limited has an operating gearing of 3. If activity increases by 10% the profit of the business…
A: Change in profit = Change in sales x Operating gearing ratio
Q: If Pluto Company sold 3000 units at sales price of SR45. The variable cost per unit is SR25.…
A: Introduction: Contribution margin per unit: Deduction of all variable costs from the sales price…
Q: STI Co. acquired 55% of the outstanding shares of UE Inc on August 1, 2021 at a total cost of…
A: Non Controlling Interest For the calculation of non controlling interest the minority interest which…
Q: A company resident in Jamaica purchased the following assets in 2021: Asset Cost $ Honda Motor car…
A: The capital deduction rate for Trinidad and Tobago for buildings and improvements, motor vehicles,…
Q: Home Office ordered office table and chairs worth 20,000 to be carried in branch books. The branch…
A: Head office and branch accounting is done when one office is called as head office where all…
Q: E12-1B (L01,2) (Classification Issues–Intangibles) Presented below is a list of items that could be…
A: As per International Financial Reporting Standards (IFRS), Intangible assets are: Identifiable…
Q: On January 1, 2021, the start of the current financial year, Tubble Ltd had in issue 36 million…
A: Calculation of bonus shares issued: Existing no of shares = 36 million Bonus shares proportionate =…
Q: Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in…
A:
Q: Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add…
A: Percent of total for assets = Asset amount/Total assets Percent of total for liabilities =…
Q: ent pa
A: Brief Leas Accounting
Q: Low Falls Corporation (lessor) entered into a lease agreement on January 1, 2017, to provide Amazon…
A: Present value denotes the present worth of money by discounting the future cash flows whereas future…
Q: Consider the following information for three stocks, Stock A, Stock B, and Stock C. The returns on…
A: GIVEN Consider the following information for three stocks, Stock A, Stock B, and Stock C. The…
Q: Present Value Computation You will receive $2,500 in 3 years. What is the present value if you can…
A: The present is today's value of a money to in future. It is calculated by discounting the amount to…
Q: Directions: Prepare a schedule of cost of goods sold for the three-month period and a statement of…
A: Data from the accounts of Ken Merchandising for the one month period ended 31st March, 2020 is given…
Q: he Wendt Corporation reported $45 million of taxable income. Its federal tax rate was 21% (ignore…
A: The amount of income needed to determine the taxes owing by an individual or a business is referred…
Q: Janos Company, which has only one product, has provided the following data concerning its most…
A: The absorption costing assumes fixed and variable manufacturing costs to be included in the cost of…
Q: Indicate whether the breakeven point will increase or decrease based on the following change (each…
A: Break even point = Fixed costs /Contribution margin per unit where, Contribution margin per unit =…
Q: A company has purchased a capital asset for $21.2 million. The asset belongs to the 5-year MACRS GDS…
A:
Q: 8. An entity, Dominic Limited has profit after tax of $15 million for the year ended December 31,…
A:
Q: ABC Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363.…
A: At the end of the period, petty cash fund should stand at P40,000.
Q: Question 3 Ghaz Company produces two types of sound units: Deluxe and Regular. Activity data is as…
A: ABC costing is a method where cost is allocated based on activity. It does not uses single overhead…
Show the solution in good accounting form.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Problem 5-7 (IAA) Bronze Company provided the following information at year-end: Share capital Share premium Cumulative translation adjustment - debit Treasury shares, at cost Retained earnings Cumulative unrealized gain on option contract designated as cash flow hedge 6,000,000 3,500,000 2,000,000 700,000 1,500,000 600,000 What is the shareholders' equity at year-end? a. 9,500,000 b. 8,900,000 c. 7,400,000 d. 7,500,000You are given the following information: ordinary shares, P80,000 (P80par); Share Premium-Ordinary, 200,000; and Retained Earnings, P400,000.Assuming only one class of share, the book value per share is? a.P280 b. P680 c. P80 d. P400An 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?
- 4. An entity showed the following data:Share capital, par value P50 5,000,000Share premium 200,000Retained Earnings 2,000,000Market value of share on declaration date 75Market value of share on distribution date 85Treat each item independently: a. If the entity would declare a 1 for 5 share dividend, what amount would be charged to retained earnings? b. What amount will be credited to share premium if the entity would declare 15% share dividend?An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What ending balance of Retained Earnings should be reported at year-end?COMPUTE FOR YOUR BASIC EARNING PER SHARE * BASIC EARNINGS PER SHARE Entity A had 50, 000, P15 PAR, 10% cumulative preference shares outstanding all throughout 2021. Entity a reortea a profit after tax P 1, 250, 000for the year ended December 31, 2021. The movements in the number of shares are as follows: 1/1/2021 Ordinary shrres outstanding 3/1/2021 Share issued for cash 6/30/2021 Subscribed shares 9/30/2021 Reacquisition of treasury shares . 180, 000 50, 000 20, 000 (12 000) 238, 000
- The shareholders' equity section of the Rivera Corporation at December 31, 2018 shows the following: 9. P 800,000 10% Preference Share Capital, P100 par Ordinary Share Capital, P100 par Retained Earnings 3,600,000 9,500,000 Required: Compute the book value per share of both the preference share and ordinary share, under each of the following independent assumptions: (a) Preference share is non-cumulative and non-participating. Preference share is cumulative and non-participating. Dividends have not been paid for the last three years including 2018. (b) Preference share is cumulative and participating up to 15%. No dividends were In arrears at the end of 2017. (c) Preference share is cumulative and fully participating. Dividends have not been paid for the last three years including 2018. (d)An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What total shareholders’ equity should be reported at year-end?Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.
- 4. An entity showed the following data:Share capital, par value P50 5,000,000Share premium 200,000Retained Earnings 2,000,000Market value of share on declaration date 75Market value of share on distribution date 85Treat each item independently: c. How much would be the total shareholders’ equity after a 10% share dividend declaration? d. If the entity would declare a 1 for 5 share split, What would be the balance of retained earnings?The Shareholders' Equity section of BFAR Corp. statement of financial position shows the following: Preference Share Capital, P100 par Ordinary Share Capital, P10 par Treasury Shares - ordinary, P12 cost/share Share Premium - Ordinary Share Premium - Preference Subscribed Ordinary Share Capital Subscription Receivable (2 years collectability) Share Premium on Subscribed Ordinary shares Share Premium on Treasury shares Accumulated Profits - Unappropriated (unadjusted) - beg 2,800,000 6,000,000 960,000 1,640,000 1,020,000 750,000 600,000 625,000 610,000 7,040,000 Dividends declared during the year is P500,000. Profit for the year is P800,000. Compute the Total Shareholders' Equity.Particulars No. of equity shares Profit after tax Market Price Per Share Compute the following: i) EPS of both the companies ii) Exchange Ratio Infinity Limited 6,00,000 $20,00,000 $20 Global Limited 2,00,000 $10,00,000 $15
