Question 2. What is the total contributed capital related to ordinary shares?
Question 3 and 4
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1. B
3. B
4. B
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Question 2. What is the total contributed capital related to
ordinary shares?
Question 3 and 4...
1- Suppose a firm earns Net Income of $1,200,000. The company pays an Ordinary Dividend of...
1- Suppose a firm earns Net Income of $1,200,000. The company pays an Ordinary Dividend of $400,000 and a Preference Dividend of $200,000. Throughout the financial year, the firm has 100,000 Ordinary Shares and 200,000 Preference Shares. The firm’s Earnings Per Share (EPS) is: 2- Suppose a firm earns Net Income of $1,000,000. The company does not pay dividends. At the start of the financial year the firm had 980,000 Ordinary Shares. On 31 March, the firm issued 20,000 Ordinary...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1,...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1, 2010. On this date, the Board of directors declared a share capital dividend distributable on November 20, 2010 to shareholders of record of October 30. The Market price of each ordinary share is P25 on October 1; P23 on October 30 and P30 on November 20. Instructions: Prepare the entries to record the declaration and distribution of stock dividends under each of the following...
Equity section of Sol Corporation shows the following on January 1, 2018. Shares Ordinary – Ordinary,...
Equity section of Sol Corporation shows the following on January 1, 2018. Shares Ordinary – Ordinary, $1 par value 1,000,000 shares authorized, 500,000 shares issued and outstanding $500,000 Shares premium – Ordinary 500,000 Retained earnings 1,750,000 Total Equity $ 2,750,000 During the year, the company had following transactions occurred: Mar. 1 Issued 50,000 ordinary shares for $150,000. Jun. 1 Acquired 5,000 shares of its shares for the treasury at $4 per share Sep. 1 Sold 3,000 shares at...
Problem No. 2 Wise Company has the following capital structure as of December 31, 2020: Ordinary...
Problem No. 2 Wise Company has the following capital structure as of December 31, 2020: Ordinary share capital, P100 par value, 100,000 shares authorized, 10,000 shares issued and outstanding Share premium Retained earnings P1,000,000 250,000 520,000 On the same date, when the shares market price is at P115 per share, the company declared a share dividend to its ordinary shareholders to be distributed on January 31, 2021. Requirements: 1. Journal entry on the date of declaration if the share dividends...
10% preference shares, cumulative and participating, P250 par, authorized shares, 20,000 shares i...
10% preference shares, cumulative and participating, P250 par, authorized shares, 20,000 shares issued and outstanding. B.) Paolo Corp. has the following selected accounts in its stockholders' equity section: 40,000 Ordinary shares, P150 par, authorized 100,000 shares, 60,000 shares issued and outstanding Share premium - ordinary shares Share premium - preference shares Treasury shares-ordinary shares (2,000 shares) Treasury shares-preference (1,000 shares Retained earnings 600,000 400,000 300,000 200,000 1.5 million The board failed to declare/paid dividends for the past three years. The...
Banner Publications was organized early in 2008 with authorization to issue 10,000 preference shares of $100...
Banner Publications was organized early in 2008 with authorization to issue 10,000 preference shares of $100 par value and 1 million ordinary shares of $1 par value. All the preference shares were issued at par, and 400,000 ordinary shares were sold for $15 per share. The preference shares pay a 10 percent noncumulative dividend. During the first five years of operations (2008 through 2012) the corporation earned a total of $4,100,000 and paid dividends of $.80 per share each...
EPPD1033 QUESTION 2 (20 MARKS) Intan Sahara is undergoing industrial training in an accounting firm. She...
EPPD1033 QUESTION 2 (20 MARKS) Intan Sahara is undergoing industrial training in an accounting firm. She was prepare the financial statements for Nasuha Corporation. In the process of her found the following transactions related to ownership interest for the year 201 work, she Apr 4 | Issued 10,000 units of cumulative Preference Share, 5% for the purp ha e of acquiring a parcel of land According to an independent valuer, he market value of RM60,000. Market value of Nasuha Corporation...
The equity accounts of Sam Group have the following balances on December 31, 2011. Share Capital-Ordinary,...
The equity accounts of Sam Group have the following balances on December 31, 2011. Share Capital-Ordinary, $10 par, 500,000 shares issued and outstanding $5,000,000 Share Premium-Ordinary 3,500,000 Retained Earnings 8,600,000 Shares of Sam Group are currently selling at $50. Instructions Prepare the appropriate journal entries for each of the following cases. No. 1 Transaction A declaration of cash dividends for $0.2 per share Journal Entry 2 The payment of cash dividends declared above Journal Entry 3 A share dividend of...
Problem 5 (20 points) The shareholder equity accounts for Hexagon International are shown below: Ordinary shares ($...
Problem 5 (20 points) The shareholder equity accounts for Hexagon International are shown below: Ordinary shares ($1 par value) $20,000 Capital surplus 200,000 Retained earnings 426,500 Total owners' equity 646,500 a. If Hexagon shares currently sell for $20 per share, and a 10 per cent stock dividend is declared, how many new shares will be distributed? Show how the equity accounts would change. b. What if instead of stock dividend, Hexagon declares a two-for-one stock split. How many shares are...
Problem No. 2 Wise Company has the following capital structure as of December 31, 2020: Ordinary share capital, P100 par value, 100,000 shares authorized, 10,000 shares issued and outstanding Share premium Retained earnings P1,000,000 250,000 520,000 On the same date, when the shares market price is at P115 per share, the company declared a share dividend to its ordinary shareholders to be distributed on January 31, 2021. Requirements: 1. Journal entry on the date of declaration if the share dividends...
EPPD1033 QUESTION 2 (20 MARKS) Intan Sahara is undergoing industrial training in an accounting firm. She was prepare the financial statements for Nasuha Corporation. In the process of her found the following transactions related to ownership interest for the year 201 work, she Apr 4 | Issued 10,000 units of cumulative Preference Share, 5% for the purp ha e of acquiring a parcel of land According to an independent valuer, he market value of RM60,000. Market value of Nasuha Corporation...
The equity accounts of Sam Group have the following balances on December 31, 2011. Share Capital-Ordinary, $10 par, 500,000 shares issued and outstanding $5,000,000 Share Premium-Ordinary 3,500,000 Retained Earnings 8,600,000 Shares of Sam Group are currently selling at $50. Instructions Prepare the appropriate journal entries for each of the following cases. No. 1 Transaction A declaration of cash dividends for $0.2 per share Journal Entry 2 The payment of cash dividends declared above Journal Entry 3 A share dividend of...
Problem 5 (20 points) The shareholder equity accounts for Hexagon International are shown below: Ordinary shares ($1 par value) $20,000 Capital surplus 200,000 Retained earnings 426,500 Total owners' equity 646,500 a. If Hexagon shares currently sell for $20 per share, and a 10 per cent stock dividend is declared, how many new shares will be distributed? Show how the equity accounts would change. b. What if instead of stock dividend, Hexagon declares a two-for-one stock split. How many shares are...
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