Bonita Industries owned 22300 shares of Carla Vista Co. purchased in 2014 for $613250. On December...
Bonita Industries owned 22300 shares of Carla Vista Co.
purchased in 2014 for $613250. On December 15, 2017, Bonita
declared a property dividend of all of its Carla Vista Co. shares
on the basis of one share of Carla Vista for every 10 shares of
Bonita common stock held by its stockholders. The property dividend
was distributed on January 15, 2018. On the declaration date, the
aggregate market price of the Carla Vista shares held by Bonita was
$891000. The entry to record the declaration of the dividend would
include a debit to Retained Earnings of
$613250.
$891000.
$0.
$277750.
Homework Answers
| On the declaration date, the aggregate market value of property distributed is considered for property dividends. |
| The entry to record the declaration of the dividend would include a debit to Retained Earnings of $891000 |
| Option B $891000 is correct |
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Bonita Industries owned 22300 shares of Carla Vista Co.
purchased in 2014 for $613250. On December...
Question 12 Bonita Industries purchased the assets of Carla Vista Co. at an auction for $5740000....
Question 12 Bonita Industries purchased the assets of Carla Vista Co. at an auction for $5740000. An independent appraisal of the fair value of the assets is listed below: Land $1840000 Building 2930000 Equipment 2270000 Trucks 3270000 Assuming that specific identification costs are impracticable and that Bonita allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Building? $ 2235366 $ 5200000 $ 2930000 $ 1631251
Bonita Industries is indebted to Carla Vista under a $1040000, 13%, three-year note dated December 31,...
Bonita Industries is indebted to Carla Vista under a $1040000,
13%, three-year note dated December 31, 2016. Because of Bonita's
financial difficulties developing in 2018, Bonita owed accrued
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Exercise 14-17 a-b At December 31, 2020, Carla Vista Corporation has 2,400 shares of $109 par...
Exercise 14-17 a-b At December 31, 2020, Carla Vista Corporation has 2,400 shares of $109 par value, 8%, preferred stock outstanding and 100,000 shares of $15 par value common stock issued. Carla Vista's net Income for the year is $242,000. Compute the earnings per share of common stock under the following independent situations. (Hound answers to 2 decimal places,.. 10.50.) (a) The dividend to preferred stockholders was declared. There has been na change in the number of shares of common...
On December 31, 2017, the stockholders' equity section of Bonita Industries, was as follows: Common stock,...
On December 31, 2017, the stockholders' equity section of Bonita Industries, was as follows: Common stock, par value $10; authorized 35000 shares; issued and outstanding 10500 shares $ 105000 Additional paid-in capital 115000 Retained earnings 184000 Total stockholders' equity $404000 On March 31, 2018, Bonita declared a 10% stock dividend, and accordingly 1050 additional shares were issued, when the fair value of the stock was $19 per share. For the three months ended March 31, 2018, Bonita sustained a net...
On December 31, 2021, Carla Vista Co. had 1,300,000 shares of $6 par common stock issued...
On December 31, 2021, Carla Vista Co. had 1,300,000 shares of $6
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Common Stock $7,800,000
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1. On January 10, issued at $105 per share 127,000 shares of
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2. On February 8, reacquired 15,100 shares of...
please show calculations thank you. Ivanhoe Company owned 47000 shares of Sheffield Corp.. These shares were...
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Carla Vista Wok Co. is expected to pay a dividend of $1.20 one year from today...
Carla Vista Wok Co. is expected to pay a dividend of $1.20 one year from today on its common shares. That dividend is expected to increase by 5.00 percent every year thereafter. If the price of Carla Vista common stock is $8.00, what is the cost of its common equity capital?
Please fix the answers bolded in red Carla Vista Co. has had 4 years of record...
Please fix the answers bolded in red
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On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its...
On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its Common Shares account was $628,500. The company declared a 5% stock dividend to shareholders of record on March 14, to be distributed on March 31. The fair value per share was $4 on March 1, $3.85 on March 14, and $4.35 on March 31. Prepare the entries on the appropriate dates to record the stock dividend. (Credit account titles are automatically indented when the...
On January 1, 2020, Carla Vista Corporation nad the following stockholders' equity accounts.
Problem 14-03 A a-dOn January 1, 2020, Carla Vista Corporation nad the following stockholders' equity accounts.Common Stock (no par value, 85,000 shares issued and outstanding) $ 1,375,000Retained Earnings 541,000During the year, the following transactions occurred.Feb. 1 Declared a $ 1 cash dividend per share to stockholders of record on February 15, payable March 1.Mar. 1 Paid the dividend declared in February.Apr. 1 Annouriced a 3 -for-1 stock split, Prior to the split, the market price per share was 540.July 1 Declared a...
Question 12 Bonita Industries purchased the assets of Carla Vista Co. at an auction for $5740000. An independent appraisal of the fair value of the assets is listed below: Land $1840000 Building 2930000 Equipment 2270000 Trucks 3270000 Assuming that specific identification costs are impracticable and that Bonita allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Building? $ 2235366 $ 5200000 $ 2930000 $ 1631251
Bonita Industries is indebted to Carla Vista under a $1040000,
13%, three-year note dated December 31, 2016. Because of Bonita's
financial difficulties developing in 2018, Bonita owed accrued
interest of $135200 on the note at December 31, 2018. Under a
troubled debt restructuring, on December 31, 2018, Carla Vista
agreed to settle the note and accrued interest for a tract of land
having a fair value of $920000. Bonita's acquisition cost of the
land is $718000. Ignoring income taxes, on...
Exercise 14-17 a-b At December 31, 2020, Carla Vista Corporation has 2,400 shares of $109 par value, 8%, preferred stock outstanding and 100,000 shares of $15 par value common stock issued. Carla Vista's net Income for the year is $242,000. Compute the earnings per share of common stock under the following independent situations. (Hound answers to 2 decimal places,.. 10.50.) (a) The dividend to preferred stockholders was declared. There has been na change in the number of shares of common...
On December 31, 2021, Carla Vista Co. had 1,300,000 shares of $6
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here.
Common Stock $7,800,000
Additional Paid-in Capital 1,840,000
Retained Earnings 1,215,000
Transactions during 2022 and other information related to
stockholders’ equity accounts were as follows.
1. On January 10, issued at $105 per share 127,000 shares of
$104 par value, 8% cumulative preferred stock.
2. On February 8, reacquired 15,100 shares of...
Please fix the answers bolded in red
Carla Vista Co. has had 4 years of record earnings. Due to this success, the market price of its 500,000 shares of $4 par value common stock has increased from $14 per share to $55. During this period, paid-in capital remained the same at $6,000,000. Retained earnings increased from $4,500,000 to $30,000,000. CEO Don Ames is considering either (1) a 15% stock dividend or (2) a 2-for-1 stock split. He asks you to...
On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its Common Shares account was $628,500. The company declared a 5% stock dividend to shareholders of record on March 14, to be distributed on March 31. The fair value per share was $4 on March 1, $3.85 on March 14, and $4.35 on March 31. Prepare the entries on the appropriate dates to record the stock dividend. (Credit account titles are automatically indented when the...
Problem 14-03 A a-dOn January 1, 2020, Carla Vista Corporation nad the following stockholders' equity accounts.Common Stock (no par value, 85,000 shares issued and outstanding) $ 1,375,000Retained Earnings 541,000During the year, the following transactions occurred.Feb. 1 Declared a $ 1 cash dividend per share to stockholders of record on February 15, payable March 1.Mar. 1 Paid the dividend declared in February.Apr. 1 Annouriced a 3 -for-1 stock split, Prior to the split, the market price per share was 540.July 1 Declared a...
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