Homework Answers
1. Book value of common stakeholders = Equity available to common stakeholders = $3,70,000
2. Panara corporation paid $5,00,000 for 70% interest in sally's common stock i.e $3,50,000
Goodwill = $500000 - $350000 = $150000
3. If the company purchased 70% of the preferred stock i.e $7000 for $5000
Preferred stock a/c Dr $7000
To Cash a/c $5000
To P&L a/c $2000
4. Elimination entry
Investment a/c Dr
To Preferred stock a/c
Add Answer to:
Problem 5 Sally Corporation's stockholders' equity on December 31, 2014 was as follows: 10% cumulative preferred...
The equity section of Cyril Corporation's balance sheet shows the following: Preferred stock-5% cumulative, $25 par...
The equity section of Cyril Corporation's balance sheet shows the following: Preferred stock-5% cumulative, $25 par value, 10,000 shares issued and outstanding Common stock-$10 par value, 30,000 shares issued and outstanding Retained earnings $ 250,000 300,000 267,500 $ 817,500 Total stockholders' equity This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears. 2. Three years of preferred dividends are in arrears....
The equity section of Cyril Corporation's balance sheet shows the following: Preferred stock-5% cumulative, $15 par...
The equity section of Cyril Corporation's balance sheet shows
the following:
Preferred stock-5% cumulative, $15 par value, 10,000 shares issued and outstanding Common stock-$10 par value, 45,000 shares issued and outstanding Retained earnings Total stockholders' equity $ 150,000 450,000 267,500 $ 867,500 Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears at the current date. 2. Three years of preferred dividends are in arrears at the current date. Complete...
The equity section of Cyril Corporation’s balance sheet shows the following. Preferred stock—5% cumulative, $25 par...
The equity section of Cyril Corporation’s balance sheet shows the following. Preferred stock—5% cumulative, $25 par value, 10,000 shares issued and outstanding $ 250,000 Common stock—$10 par value, 45,000 shares issued and outstanding 450,000 Retained earnings 267,500 Total stockholders’ equity $ 967,500 Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears at the current date. 2. Three years of preferred dividends are in arrears at the current date. Determine...
The equity section of Cyril Corporation's balance sheet shows the following: $ 250,000 Preferred stock—6% cumulative,...
The equity section of Cyril Corporation's balance sheet shows the following: $ 250,000 Preferred stock—6% cumulative, $25 par value, 10,000 shares issued and outstanding ......... Common stock-$8 par value, 100,000 shares issued and outstanding...... Retained earnings .............. Total stockholders' equity ............ 800,000 535,000 $1,585,000 Chapter 13 Accounting for Corporations This year's dividen e dividends on preferred stock have been paid. Determine the book value per share of common cook under two separate situations. No preferred dividends are in arrears. Three...
The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBERG MARIGNY...
The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBERG MARIGNY CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding $300,000 Common stock, no par, 750,000 shares authorized, 300,000 shares issued 1,500,000 Total paid-in capital 1,800,000 Retained earnings 2,050,000 Total paid-in capital and retained earnings 3,850,000 Less: Treasury stock (5,000 common shares) (64,000 ) Total stockholders' equity $3,786,000 From a review of the stockholders’ equity...
The stockholders' equity section of Montel Company's balance sheet follows. $ 150,000 Preferred stock-5% cumulative, $10...
The stockholders' equity section of Montel Company's balance sheet follows. $ 150,000 Preferred stock-5% cumulative, $10 par value, 15,000 shares authorized, issued and outstanding Common stock-$5 par value, 230,000 shares authorized, 180,000 shares issued and outstanding Retained earnings Total stockholders' equity 900,000 864,000 $1,914,000 Determine the book value per share of the common stock. Answer is complete but not entirely correct. Choose Numerator: Stockholders' equity applicable to common shares 1,756,500 Book Value Per Common Share Choose Denominator: Number of common...
The stockholders' equity section of Montel Company's balance sheet follows. This year's dividends on preferred stock...
The stockholders' equity section of Montel Company's balance sheet follows. This year's dividends on preferred stock have been paid and no preferred dividends are in arrears. Preferred stock-5% cumulative, $1e par value, 10,00e shares authorized, issued and outstanding Common stock-$5 par value, 228,eee shares authorized, 17e,eee shares issued and outstanding Retained earnings Total stockholders equity 1ee,eee 850, eee 1,e74,see $2,824,see Determine the book value per share of the common stock Book Value Per Common Share Book Value Per Common Share...
At December 31, Gorden Corporation has total stockholders' equity of $3,200,000. Included in this total are...
At December 31, Gorden Corporation has total stockholders' equity of $3,200,000. Included in this total are preferred stock $500,000 and paid-in capital in excess of par—preferred stock $50,000. There are 10,000 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 200,000 shares of common stock are outstanding. Instructions Compute the book value per share of common stock under each of the following assumptions. (a) There are no preferred dividends in arrears, and the preferred stock does not...
P11-3A The stockholders' equity accounts of Castle Corporation on January 1, 2019, were as follows. Preferred...
P11-3A The stockholders' equity accounts of Castle Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 400,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,816,000 Treasury Stock (10,000 common shares) 50,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000...
Eugene Inc.’s statement of stockholders’ equity on December 31, 2016 is as follows: 5% cumulative preferred...
Eugene Inc.’s statement of stockholders’ equity on December 31, 2016 is as follows: 5% cumulative preferred stock, $75 par,10,000 shares authorized; 6,000 shares issued and outstanding $450,000 Common stock, $1 par, 500,000 share authorized; 385,000 shares issued and outstanding 385,000 Paid-in capital in excess of par - Preferred stock 25,000 Paid-in capital in excess of par - Common stock 2,045,000 Retained earnings 220,000 Total stockholders’ equity $3,125,000 The following transactions occurred during 2017: Instruction: Prepare Journal entries for each of...
The equity section of Cyril Corporation's balance sheet shows the following: Preferred stock-5% cumulative, $25 par value, 10,000 shares issued and outstanding Common stock-$10 par value, 30,000 shares issued and outstanding Retained earnings $ 250,000 300,000 267,500 $ 817,500 Total stockholders' equity This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears. 2. Three years of preferred dividends are in arrears....
The equity section of Cyril Corporation's balance sheet shows
the following:
Preferred stock-5% cumulative, $15 par value, 10,000 shares issued and outstanding Common stock-$10 par value, 45,000 shares issued and outstanding Retained earnings Total stockholders' equity $ 150,000 450,000 267,500 $ 867,500 Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears at the current date. 2. Three years of preferred dividends are in arrears at the current date. Complete...
The equity section of Cyril Corporation's balance sheet shows the following: $ 250,000 Preferred stock—6% cumulative, $25 par value, 10,000 shares issued and outstanding ......... Common stock-$8 par value, 100,000 shares issued and outstanding...... Retained earnings .............. Total stockholders' equity ............ 800,000 535,000 $1,585,000 Chapter 13 Accounting for Corporations This year's dividen e dividends on preferred stock have been paid. Determine the book value per share of common cook under two separate situations. No preferred dividends are in arrears. Three...
The stockholders' equity section of Montel Company's balance sheet follows. $ 150,000 Preferred stock-5% cumulative, $10 par value, 15,000 shares authorized, issued and outstanding Common stock-$5 par value, 230,000 shares authorized, 180,000 shares issued and outstanding Retained earnings Total stockholders' equity 900,000 864,000 $1,914,000 Determine the book value per share of the common stock. Answer is complete but not entirely correct. Choose Numerator: Stockholders' equity applicable to common shares 1,756,500 Book Value Per Common Share Choose Denominator: Number of common...
The stockholders' equity section of Montel Company's balance sheet follows. This year's dividends on preferred stock have been paid and no preferred dividends are in arrears. Preferred stock-5% cumulative, $1e par value, 10,00e shares authorized, issued and outstanding Common stock-$5 par value, 228,eee shares authorized, 17e,eee shares issued and outstanding Retained earnings Total stockholders equity 1ee,eee 850, eee 1,e74,see $2,824,see Determine the book value per share of the common stock Book Value Per Common Share Book Value Per Common Share...
P11-3A The stockholders' equity accounts of Castle Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 400,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,816,000 Treasury Stock (10,000 common shares) 50,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000...
Most questions answered within 3 hours.
-
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 10 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 7 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 32 minutes ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 22 minutes ago -
What were the main rulings in the Supreme Court cases which are
Morgan v. Virginia (1946)...
asked 22 minutes ago -
write a five paragraph essay on how setting,
specifically culture, influences the actions of
the characters...
asked 13 minutes ago -
JAVA
Provide a simple code sample of Merge sort
asked 24 minutes ago -
Discounting cash flows involves:
A. taking the cash discount offered on a trade merchandise
B. estimating...
asked 31 minutes ago -
A solid wood door 1.00 m wide and 2.00 m high is hinged along
one side...
asked 31 minutes ago -
Raleigh Company manufactures two joint products. At the
split-off point, they have sales values of:
Product...
asked 31 minutes ago -
1. Your grandmother has invested $4000 in a mutual fund each
year on your birthday (she...
asked 33 minutes ago -
HELP WITH SAS
Run the following DATA step to create a SAS data set called
ABC_CORP....
asked 46 minutes ago