Answer in detail please QUESTION 3 Glasgow Plc issued £20m of 9% redeemable preference shares on...
SHARE VALUATION QUESTION 8 Tobias Limited has issued an unlimited number of non-redeemable preference shares with a par value of R100 each at a 4 percent (4%) discount. The preference dividend is 15 percent (15%) per year. Management expects that the earnings per ordinary share will show no growth over the next two years where-after it will grow at 6 percent (6%) infinitely. The most recent dividend per share is R2,00. The required rate of return of Tobias Limited is...
SHARE VALUATION QUESTION 8 Tobias Limited has issued an unlimited number of non-redeemable preference shares with a par value of R100 each at a 4 percent (4%) discount. The preference dividend is 15 percent (15%) per year. Management expects that the earnings per ordinary share will show no growth over the next two years where-after it will grow at 6 percent (6%) infinitely. The most recent dividend per share is R2,00. The required rate of return of Tobias Limited is...
Jenny Ltd’s equity at 30 June 2019 was as follows: 200 000 ordinary shares, issued at $3.20, fully paid 250 000 ordinary shares, issued at $4, called to $2.40 180 000 redeemable preference shares, issued at $1, fully paid Calls in advance (5 000 ordinary shares) Share issue costs General reserve Retained earnings $640 000 600 000 180 000 8 000 (7 000) 60 000 310 000 The following events occurred during the year ended 30 June 2019: 2018 July...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
please answer the following multiple choice questions 20. The following information is from the balance sheet of Tudor Corporation as of December 31, 2014 Preferred stock, S100 par Paid-in capital in excess of par preferred Common stock, SI par Paid-in capital in excess of par common Retained earnings Total stockholders' equity What was the average issue price of the common stock shares? A) S1.90 B) $1.00 C) $3.00 D) S13.15 $ 500,000 35,000 190,000 380,000 131.500 SL236.500 21. Dallkin Corporation...
On December 31, 2017, Berclair Inc. had 220 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $110 million. The income tax rate...
3. HSCC started the business and issued 10,000 ordinary shares (par value $2) at $20 per shares in 2015. The fiscal year is from January 1 to December 31 each year. On July 1, 2018, HSCC reacquires 1,000 shares of its ordinary shares at $30 per share (par value @$2). On October 1, 2018, HSCC issued a two-year callable financial instrument for $100,000. The rates of return for the first year and the second year are 1% and 2% respectively,...
• Prepare the general journal entries to record the above independent scenarios. • Narrations to general journal entries must be provided. • Complete and detailed workings/calculations must be shown. • Absence of workings/calculations may lead to zero marks allocated to the particular general journal entry, despite the fact that the entry might be correct! PLEASE answer scenario5 to 7 thank you very much The directors issued a prospectus offering 40,000 ordinary shares at an issue price of $2.80, payable $2...
On December 31, 2017, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $850 million. The income tax rate...
Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2018 annual report: Note 5. Convertible Preferred Stock (in part): The Company has the following Convertible Preferred Stock outstanding as of September 2018: Date of issuance: Optionally redeemable beginning: Par value (gross proceeds) : Number of shares: Liquidation preference per share: Conversion price per share: Number of common shares in which to be converted:...