1.In a corporation, the two basic sources of shareholders' equity are: A.donated capital and share capital...
1.In a corporation, the two basic sources of shareholders' equity are:
A.donated capital and share capital
B.share capital and retained earnings
C.donated capital and retained earnings
D.share capital and operating capital
2.Suppose 100 common shares are issued for $12.50 per share. The entry to record this issuance includes a:
A.debit to Preferred Shares for $1,000
B.credit to Retained Earnings for $1,250
C.credit to Contributed Surplus for $250
D.credit to Common shares for $1,250
3.Following is the shareholders' equity section of the balance sheet of the Everslim Corporation:
Share capital:
Common shares, 100,000 shares authorized,
65,000 shares issued $650,000
Total share capital $650,000
Retained earnings 349,000
Total shareholders' equity $999,000
The common shares are currently selling for $15.50 per share.
The balance in the Common Shares account after the distribution of a 15% common stock dividend is
A.$801,125
B.$1,150,125
C.$650,000
D.$747,500
4.On January 1, 2017, Automatic Train Corporation had 30,000 common shares outstanding issued at $10 each. On June 1, 2017, Automatic Train Corporation issued 12,000 shares of its common shares at $15 per share. On November 30, 2017, Automatic Train Corporation repurchased 3,000 shares of its common shares for $17 per share. The balance in Common shares on December 31, 2017, as shown on the statement of shareholders' equity, is:
A.$480,000
B.$445,200
C.$445,714
D.$429,000
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1.In a corporation, the two basic sources of shareholders'
equity are:
A.donated capital and share capital...
Following is the shareholders' equity section of the balance sheet of the Sammy Ltd.: Share capital:...
Following is the shareholders' equity section of the balance sheet of the Sammy Ltd.: Share capital: Common shares, 100,000 share authorized 65,000 shares issued Total share capital Retained earnings Total shareholders' equity $650,000 $650,000 349,000 $999,000 The common shares are currently selling for $15.50 per share. The balance in the Common Shares account after the distribution of a 15% common stock dividend is: 1) $882,500 2) $801,125 3) $1,150,125 4) $999,000
Ulrich Corporation has the following shareholders' equity on December 31, 2021: $570,000 Shareholders' equity Share capital...
Ulrich Corporation has the following shareholders' equity on December 31, 2021: $570,000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued Common shares, 200,000 shares authorized, 90,000 shares issued Total share capital Retained earnings Total shareholders' equity The average per common share amount is O $5.70 $9. $20. $11.40. 1.800.000 2,370,000 450.000 $2.820.000
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how can calculate 74) Bruce Corporation has the following shareholders’ equity on December 31, 2021: Shareholders' equity Share capital $ 10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued $ 570,000 Common shares, 200,000 shares authorized, 90,000 shares issued 1,800,000 Total share capital 2,370,000 Retained earnings 450,000 Total shareholders’ equity $ 2,820,000 If 10,000 common shares were reacquired for $ 17 per share, the journal entry to record the transaction would a) credit...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected...
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Whispering Company had the following Shareholders’ Equity
accounts as of May 1, 2020:
Share capital:
Preferred shares, 60,000
issued and outstanding
$738,000
Class A common shares,
150,000 issued and outstanding
750,000
Class B common shares,
440,000 issued and outstanding
2,530,000
Retained earnings
3,285,000
Total shareholders’
equity
$7,303,000
On June 10, Whispering reacquired and cancelled 1,800 Class A
common shares at a cost of $4.15 per share. On August 26, 2020,
Whispering issued 3,600 Class A common shares for $8.55 each....
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value: authorized 60,000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $250,000 12,000 75,000 On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders' equity section...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $ 250,000 12,000 75,000 On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders' equity...
d On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation...
d On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60.000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $250,000 12.000 75,000 Skipped On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders'...
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On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 Shares, outstanding 22,000 shares) Contributed uxplus Retained earnings $ 220,000 11,700 72,000 On February 1, 2017, the board of directors declared a 10 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $16.50 per share. Required: 1. For comparative purposes, prepare the shareholders' equity...
Following is the shareholders' equity section of the balance sheet of the Sammy Ltd.: Share capital: Common shares, 100,000 share authorized 65,000 shares issued Total share capital Retained earnings Total shareholders' equity $650,000 $650,000 349,000 $999,000 The common shares are currently selling for $15.50 per share. The balance in the Common Shares account after the distribution of a 15% common stock dividend is: 1) $882,500 2) $801,125 3) $1,150,125 4) $999,000
Ulrich Corporation has the following shareholders' equity on December 31, 2021: $570,000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued Common shares, 200,000 shares authorized, 90,000 shares issued Total share capital Retained earnings Total shareholders' equity The average per common share amount is O $5.70 $9. $20. $11.40. 1.800.000 2,370,000 450.000 $2.820.000
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 Shares, outstanding 22,000 shares) Contributed uxplus Retained earnings $220,000 11,700 72,000 On February 1, 2017, the board of directors declared a 10 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $16.50 per share. Required: 1. For comparative purposes, prepare the shareholders' equity section...
Whispering Company had the following Shareholders’ Equity
accounts as of May 1, 2020:
Share capital:
Preferred shares, 60,000
issued and outstanding
$738,000
Class A common shares,
150,000 issued and outstanding
750,000
Class B common shares,
440,000 issued and outstanding
2,530,000
Retained earnings
3,285,000
Total shareholders’
equity
$7,303,000
On June 10, Whispering reacquired and cancelled 1,800 Class A
common shares at a cost of $4.15 per share. On August 26, 2020,
Whispering issued 3,600 Class A common shares for $8.55 each....
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value: authorized 60,000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $250,000 12,000 75,000 On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders' equity section...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $ 250,000 12,000 75,000 On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders' equity...
d On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60.000 shares, outstanding 25,000 shares) Contributed surplus Retained earnings $250,000 12.000 75,000 Skipped On February 1, 2017, the board of directors declared a 12 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $18 per share. Required: 1. For comparative purposes, prepare the shareholders'...
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected the following: Common shares (no-par value; authorized 60,000 Shares, outstanding 22,000 shares) Contributed uxplus Retained earnings $ 220,000 11,700 72,000 On February 1, 2017, the board of directors declared a 10 percent stock dividend to be issued on April 30, 2017. The market value of the shares on February 1, 2017, was $16.50 per share. Required: 1. For comparative purposes, prepare the shareholders' equity...
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