Contributed capital: Preferred shares, $4 cumulative, 15,000 shares authorized, issued and outstanding $ Common shares, 100,000 shares authorized; 60,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity a. b. Book Value of Common Shares 144,000 300,000 $444,000 584,000 $1,028,000 Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 de a. There are no dividends in arrears. b. There are three years of dividends in arrears. A

Contributed capital: Preferred shares, $4 cumulative, 15,000 shares authorized, issued and outstanding $ Common shares, 100,000 shares authorized; 60,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity a. b. Book Value of Common Shares 144,000 300,000 $444,000 584,000 $1,028,000 Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 de a. There are no dividends in arrears. b. There are three years of dividends in arrears. A

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
Walking Bear Resources Inc. Equity Section of the Balance Sheet March 31, 2023 Contributed capital: Preferred shares, $17 cumulative, 3,500 shares authorized, issued, and outstanding Common shares, unlimited shares authorized, se,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 1,190,000 1,200,000 2,390,000 472,000 2,062,000 Required: a. Refer to the equity section above. Assume that the preferred are convertible into common at a rate of eight common shares for each share of preferred. if 1000 shares of the preferred are converted into common on April 1, 2023, prepare the journal entry
Contributed capital: Western Grass, Inc. Equity Section of Balance Sheet December 31, 2823 Preferred shares, $3 cumulative, 10,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 65,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 75,000 552,500 627 500 581 000 $1,208,500 Required: Using the Information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares
Contributed capital: Preferred shares, $3 cumulative, 20,000 shares authorized, issued and outstanding $ Common shares, 100,000 shares authorized; 70,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. a. b. Book Value of Common Shares 174,000 560,000 $ 734,000 535,000 $1,269,000
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: LO 15.8 Account Title Amount Additional Paid-in Capital on Preferred Stock Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Retained Earnings Additional Paid-in Capital on Common Stock Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance…
Capital stock, $1 par value, 500,000 shares authorized, 382,000 issued and outstanding .... Additional paid-in capital: capital stock
The equity section of CFAS Company revealed the following information on December 31, 2022: Preference share capital, P100 par P5,000,000 Share premium-preference shares 2,000,000 Ordinary share capital, P50 3,200,000 Share premium-ordinary shares 421,076 Subscribed ordinary share capital 800,000 Retained earnings-appropriated Subscription receivable-ordinary shares 250,000 400,000 Retained earnings- unappropriated 3,500,000 Treasury shares-ordinary 1,000,000 How much is the contributed capital of CFAS Company as of December 31, 2022?
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: in, assuming it uses the cost method. 10 15.8 Account Title Additional Paid-in Capital on Preferred Stock Amount Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed Retained Earnings Additional Paid-in Capital on Common Stock $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital…
Compute for stockholders' equity using the following information: 5 points Bonds payable Additional paid in capital on common stock Donated capital Treasury stock at cost Common stock, par P1 Common stock option warrants Investments in marketable securities P120,000 20,000 16,000 8,000 200,000 40,000 28,000 6,000 54,000 Additional paid in capital from treasury stock Retained earnings
The December 31, 2023, equity section of ZoomZoom inc's balance sheet appears below ZooZoon Inc. Equity Section of the Balance Sheet December 31, 2023 Contributed capital: Preferred shares, $3.75 cumulative, 33,000 shares authorized and issued Preferred shares, $10 non-cumulative, 8,700 shares authorized and issued Common shares, 330,000 shares authorized and issued Total contributed capital Retained earnings Total equity Required: All the shares were issued on January 1, 2021 (when the corporation began operations) No dividends had been declared during the first two years of operations (2021 and 2022) During 2023, the cash dividends declared and paid totalled $578,300. 1. Calculate the amount of cash dividends paid during 2023 to each of the three classes of shares Show Transcribed Text Cumulative preferred shares Noncumulative preferred shares Common shares Required: All the shares were issued on January 1, 2021 (when the corporation began operations). No dividends had been de first…
The equity section of the December 31", 2025, balance sheet for BOOYA Inc. showed the following: BOOYA Inc. Equity Section of the Balance Sheet December 31, 2025 Contributed Capital: Preferred shares, $0.25 non-cumulative, 80,000 shares authorized, 60,000 shares issued and outstanding Common shares, 250,000 shares authorized, 120,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $150,000 120.000 $270,000 92.500 $362,500 During the year 2026, BOOYA Inc had the following transactions affecting equity accounts: Sold 20,000 common shares for a total of $21,500 cash Sold 5,000 preferred shares for $3.00 each, cash. Issued and exchanged 7,000 common shares for equipment with a list price of $10,000 (fair value unknown). Common shares were trading at $1.42 on June 15th. Jan. 3 Mar. 1 June 15. Closed the Income Summary account, which showed a credit balance of $175,000. Dec. 31 The board of directors had not declared a dividend for the past two years…
Answer with computation and explanation If the total authorized share capital is P1,000,000 at P10 par, the unissued share capital is 25,000 shares, and all the issued shares were sold at P15, then the total shareholders' equity before any operation activities is a 2 750,000. b P1,125,000 c. P375,000. d. P250,000.