Tan 2022: The 0 Rec 1. Contributed capital Preferred shares, $2.00, cumulative (1 year in arrears), liquidation price of $20, 100,000 shares authorized, 17,000 shares issued and outstanding $ 272,000 Common shares, unlimited number of shares 221,000 authorized, 26,000 shares issued and outstanding 2. Total contributed capital 493,000 570,000 Retained earnings Total shareholders' equity $ 1,063,000 redit Ma Print Done 53,760 July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) Date July 4 Accounts Common Shares Cash Contributed Surplus-Share Repurchase Debit Credit 28,350

Tan 2022: The 0 Rec 1. Contributed capital Preferred shares, $2.00, cumulative (1 year in arrears), liquidation price of $20, 100,000 shares authorized, 17,000 shares issued and outstanding $ 272,000 Common shares, unlimited number of shares 221,000 authorized, 26,000 shares issued and outstanding 2. Total contributed capital 493,000 570,000 Retained earnings Total shareholders' equity $ 1,063,000 redit Ma Print Done 53,760 July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) Date July 4 Accounts Common Shares Cash Contributed Surplus-Share Repurchase Debit Credit 28,350

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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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?
The accounts below appear in the December 31, 2022 trial balance of BFAR Corporation: Ordinary Share Capital Subscribed Ordinary Share Capital Subscription Receivable Share Premium Accumulated Profits - Unappropriated Accumulated Profits - Appropriated Treasury Shares, at cost Compute the Total Shareholders' Equity. 3,000,000 1,000,000 400,000 500,000 600,000 300,000 400,000
The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10 par, 900,000 shares issued P9,000,000; Ordinary Share Premium P2,700,000; Retained Earnings P1,300,000. On January 2, 2019, the corporation purchased and retired 100,000 shares of its share capital for P 1,800,000. a. In preparing the journal entry for this transaction, is there an indicated gain or indicated loss? b. how much is the indicated gain (loss)? If your answer is an indicated loss, put a parenthesis. c. how much will be credited to Cash? d. how much will be debited to Ordinary Share Premium??
39.The accounts below appear in the December 31, 2020 trial balance of Spartans Corporation: Authorized Share Capital P 5,000,000Unissued Share Capital 2,000,000Subscribed Share Capital 1,000,000Subscription Receivable-due 2018 400,000Property Dividends Payable 800,000Share Premium 500,000Retained Earnings-unappropriated 600,000Retained Earnings-appropriated 300,000Treasury Shares-at cost 100,000 In its December 31, 2020 Statement of Financial Position, what is the amount of Spartans Contributed Capital?
Pat Company reported the following information on December 31, 2020. Determine the legal capital: * P230 000 80 500 525.000 275,000 5.000 Preference Share, P100 par Share Premium - Preference Ordinary Share, P15 par Share Premium- Ordinary Subscribed Ordinary Share Retained Earnings Notes Payable Subscription receivable- Ordinary 190,000 400,000 40,000 Your answer This is a required question
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?
The equity section of Windsor SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 94,600 shares, outstanding 84,600 shares) Share capital-ordinary (R$1 par, authorized and issued 10,000,000 shares) Share premium-ordinary Retained earnings Net income Earnings Per Share: Income from continuing operations Discontinued operations, net of tax R$125,960,000 Net income 31,020,000 R$ R$4,230,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$11,280,000 (before tax) as a result of discontinued operations. Preference dividends of R$253,800 were declared and paid in 2022. Dividends of R$ 940,000 were declared and paid to ordinary shareholders in 2022. 10,000,000 Compute earnings per share data as it should appear on the income statement of Windsor SA. (Round answers to 2 decimal places, e.g. 1.48.) 19,270,000 156,980,000 R$190,480,000
The Shareholders’ Equity of Purple Corporation showed the following: Ordinary Share capital, P 10 par, 900,000 shares issued P9,000,000; Ordinary Share Premium P2,700,000; Retained Earnings P1,300,000. On January 2, 2019, the corporation purchased and retired 100,000 shares of its share capital for P 1,800,000. In preparing the journal entry for this transaction, is there an indicated gain or indicated loss?Using the data, how much is the indicated gain (loss)? If your answer is an indicated loss, put a parenthesis. Using the data, how much will be credited to Cash? Using the data, how much will be debited to Ordinary Share Premium??
40.The accounts below appear in the December 31, 2020 trial balance of Spartans Corporation: Authorized Share Capital P 5,000,000Unissued Share Capital 2,000,000Subscribed Share Capital 1,000,000Subscription Receivable-due 2018 400,000Property Dividends Payable 800,000Share Premium 500,000Retained Earnings-unappropriated 600,000Retained Earnings-appropriated 300,000Treasury Shares-at cost 100,000 In its December 31, 2020 Statement of Financial Position, what is the amount of Spartans total Shareholders’ Equity.
A Company issued $5,00,000/- new capital divided into $.10/- shares at a premium of $4/- per share payable as On Application $1/- per share On Allotment $4/- per share & $.2/- premium On Final Payment $.5/- per share & $.2/- premium Overpayments on application were to be applied towards sum due on allotment. Where no allotment was made money was to be returned in full. The issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 were sent letters of regret. All money due on allotment and final call was duly received. Make the necessary entries in the company‟s book.
CanaCo showed the following cquity on its December 31, 2020, balance sheet: Contributed capital Preferred shares, $2 non-cumulative Authorized: 50,000 Issued and outstanding: 0. Common shares Authorized: Unlimited Issued and outstanding: 50.000. Total contributed capital. 6,300,000 $ 6,800,000 3,800,000 Retained earnings. SI0.600.000 Total equity. The shareholders of CanaCo expressed concerns to the board of directors at the recent annual mecting that the market price of their shares has not changed significantly over the past 18 months, yet the company is very profitable. Profit for each of the past three years has been S1.800,000, S2,300,000, and $3,500.000, respectively. Cash dividends were paid in each of these years equal to 50% of profit. Required Using the elements of critical thinking deseribed on the inside front cover, comment. Consider the following subheadings to organize your response, and try to really think about the complexity of share prices. What really will affect…
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?