Boe Corporation's stockholders' equity at December 31, 2008 was as follows: 6% noncumulative preference shares, P100 par (liquidation value P105 per share) 1,000,000 Ordínary shares, P100 par 3,000,000 Retained earnings 950,000 Preferred dividends have been paid up to December 31, 2008. At December 31, 2008, Boe's book value per ordinary share was
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- Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.Sabo Company reported the following shareholders’ equity at year end:6% noncumulative preference share share capital, P100 par,Liquidation value of P105 per share 1,000,000Ordinary share capital, P100 par 3,000,000Retained earnings 950,000Preference dividends have been paid up to December 31, 2020. What is the book value per ordinary share?
- Sabo Company reported the following shareholders’ equity at year end: 6% noncumulative preference share share capital, P100 par, Liquidation value of P105 per share 1,000,000 Ordinary share capital, P100 par 3,000,000 Retained earnings 950,000 Preference dividends have been paid up to December 31, 2020. What is the book value per ordinary share? a. 131.70 b. 130.00 c. 129.70 d. 128.00The shareholders' equity section of H Co. on December 31, 2018 showed the following: Ordinary share P50 par, 105,000 shares issued P5,250,000 Share Premium on Ordinary shares 1,010,000 Treasury shares [5,000 shares) 300,000 Accumulated Profits 10,000,000 The company declared 10% share dividends on the ordinary share when the market value per share is P120. How much is the amount credited to Share Premium on Ordinary shares on this transaction?Data pertaining to Classic Corp.’s common stock are presented for the fiscalbyear ending May 31, 2012: Ordinary sharesoutstanding P 750,000 Stated value per share 15.00 Market price per share 45.00 2008 dividends paidper share 4.50 2009 dividends paidper share 7.50 Basic earnings pershare 11.25 Diluted earnings pershare 9.0 The price-earnings ratio of ordinary share of Classics Corp is:a. 3.0 times. b. 7.0 times c. 6.0 times d. 5.0 times
- Kremlin Company reported the following shareholders' equity at year-end: Share capital, P30 par value, P3,000,000; Share premium, P600,000; Retained earnings, P4,200,000. A 20% share dividend was declared and distributed at year-end when entity's share was selling at P65. What amount should be reported as share capital outstanding?The shareholders' equity of Ningning Company shows the following balances on 31 December 2014: Ordinary share, P100 par - P3,000,000 Treasury share, 5,000 ordinary shares at cost - P400,000 Share Premium - P660,000 Retained Earnings - P1,580,000 What is the book value per share of ordinary shares? (Round answer to the nearest two decimal places)The shareholders' equity section of Hale Co. on December 31, 2018 showed the following: Ordinary share P50 par, 105,000 shares issued P5,250,000 Share Premium on Ordinary shares 1,010,000 Treasury shares [5,000 shares) 300,000 Accumulated Profits 10,000,000 The company declared 20% share dividends on the ordinary share when the market value per share is P130. How much is the amount credited to Share Premium on Ordinary shares on this transaction?
- Alpha company reported the following equity accounts on January 1, 2020. Share capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings, P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31, the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?Fire company has the following data at year end:· 10% noncumulative preference shares capital, P1,000 par, P1,400 liquidation value, 500 issued and outstanding shares · Ordinary share capital, P500 par, 5,000 issued and outstanding shares · Total shareholders’ equity of 3,600,000No dividends in arrears. What is the book value per share – ordinary? a. P520.00 b. P580.00 c. P510.00 d. P818.00Alpha company reported the following equity accounts on January 1, 2020. Tpoint hare capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings. P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31. the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?