Before Action $1,269,000 $ equity $232,000 657,000 380,000 1,037,000 $1269,000 300,000 $ $ After Cash Dividend $ $ After Stock Dividend $ $ After Stock Split 21°C Partly cloudy
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- Choose the correct classification for the following accounts: A forfeited shares account; A forfeited shares reserve: 1. Liability Asset2. Income Equity3. Expense Liability5. Asset Income5. Liability Equity a. 1 b. 2 c. 3 d. 4 e. 5Transaction Analysis Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common stock for $100,000 cash. b. Borrowed $60,000 from a bank. c. Purchased equipment for $42,000 cash. d. Prepaid rent on office space for 6 months in the amount of $9,000. e. Performed consulting services in exchange for $7,100 cash, f. Performed consulting services on credit in the amount of $19,250. 9. Incurred and paid wage expense of $10,200. h. Collected $13,500 of the receivable arising from Transaction f 1. Purchased supplies for $1,680 on credit. 3. Used $1,100 of the supplies purchased in Transaction i k. Paid for all of the supplies purchased in Transaction 1. Required: For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below. If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND…ting Standards Sec-1 with B Shivakumar for Sem II 2021 C021-3/ Topic 3/ Quiz 2 Redemption of preference shares by a company is classified under investing activities of its cash flow statement Select one: of O True O False stion Next page page
- M,Band/Aweretthree partnerssharing profits i int the ratio 2::2::11Their|Balance Sheetas at 31.3.2012 was as under: BALANCE SHEET as at 31.3.2012 Liabilities $ Assets $ General ReservE M's Capital B's Capital FAs Capital Creditors 28,000 30,000 20,000 10,000 25,000 17,500 4,C00 TZ1500 28,500 45,500 15,000 30,000 Casih Debtors Stock Land & Building Motor Vehicle Bilis Payable Goodwill 1,30,500 1,30,500 Bdied on 12th June, 2012. According to the deed, his legal representatives entitied ito: (fa) Batanceiin Capital A/c ((b) Shareof goodwill valued on the basis of thrice the averoge profits far ithe pastifourcompieted years. ((0) Shareinprofits upto the dote of death on the basis of average profits forthe pastifour completet yeurs. ((d) ifntereston capital@ 18% p.a. Profits forithe yearsending on/March 31“ of 2009, 2010, 2011 and2012 respectively.were $50,000, $E8,00, $40,000, $52,0ODirespectively. Theifirmihaitaken amatonvéhičteibutítwas mot recordetdi inthelhooksitillttate. The market…d. mutual agency for stockholders 20. Stockholders' equity a. is usually equal to cash on hand b. is shown on the income statement c. includes paid-in capital and liabilities d. includes retained earnings and paid-in capita blec biseFinancial statement analysis 2. Given below are the summarized accounts of Belper Ltd for the past five years. These the basis for the questions which follow. Summarized profit and loss accounts of Belper Ltd Sales Cost of sales Trading profit Depreciation Interest Net profit before tax Taxation Net profit after tax Extraordinary items Dividends Retained profits Retained at start of year Retained at end of year Fixed assets Freehold land and buildings Leasehold land and buildings Plant and machinery Total gross fixed assets Depreciation freehold Depreciation leasehold Depreciation plant, etc. Total depreciation Net fixed assets Intangible fixed assets Goodwill Investments Patents and trade marks Current assets Stock Debtors Bank and cash Current liabilities Creditors Taxation Dividends Bank loans and overdraft 19X4 Net current assets £000 Financed by Ordinary share capital Share premium account Retained profits Revaluation reserves 93,930 81,750 12,180 1,023 2,727 8,430 2,517 5,913…
- Kimmel, Financial Accounting, Se LUS elo I System Announcements SLYHO O A Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Ayayai Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock 000'00€$ 000'000'I 000'ST Retained Earnings 000'08t 00sʻ169 000'ot (sƏJeys uowwao 000's) pas kunsea During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1. Issued 5,000 shares of common stock for $35,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $8 per share. Declared a 7% cash dividend on preferred stock, payable November 1. 1. Paid the dividend declared on October 1. 1. Declared a $0.55 per share cash dividend to common stockholders of record on December 15,…A. Find the net proceeds of the stocks on the table below. Expenses Name of Stock Shares Held Selling Price per Share (Commission, taxes and Fees) Net Proceeds 1. Food Corporation 2. Property Holdings 3. Power Corporation 4.Transportation Corporation 100 P1,040.00 P2,640.00 250 P500.00 P1,720.00 80 P1,480.00 P1,880.00 300 P320.00 P2,240.00Using the following balance sheet, calculate net working capital: Cash Marketable Securities Accounts receivable Inventory Current assets Net fixed assets Total assets Select one: O A. $60.00 O B. $40.00 O C. $10.00 O D. $90.00 $10 Accounts payable 30 Accruals 50 Notes payable 40 Current liabilities $130 Long-term debt 100 Common equity Retained earnings $230 Total liab. & equity $20 20 50 $90 0 30 50 $230
- The term capital structure refers to_______ O a. Long-term debt, preferred stock, and common stock equity O b. Current assets and current liabilities O c. Shareholders' equity O d. Total assets minus liabilitiesASSETS LIABILITIES AND CAPITALa. Current assets b. Investments c. Plant and equipment d. Intangiblese. Other assets f. Current liabilities g. Long-term liabilitiesh. Preferred stock i. Common stock j. Additional paid-in capitalk. Retained earningsl. Items excluded from balance sheetUsing the letters above, classify the following accounts according to the preferred and ordinary balance sheet presentation. _____ 1. Bond sinking fund_____ 2. Common stock distributable_____ 3. Appropriation for plant expansion_____ 4. Bank overdraft_____ 5. Bonds payable (due 2010)_____ 6. Premium on common stock_____ 7. Securities owned by another company which are collateral for that company's note_____ 8. Trading securities_____ 9. Inventory_____ 10. Unamortized discount on bonds payable_____ 11. Patents_____ 12. Unearned revenueIfyouareaninvestorhaving4,000sharesandtheboarddeclaresthedistributionof0.03additional shares per share already owned, how many stock dividends would you receive? a. 100 b. 120 c. 110 d. 140