Below is information related to ABC Corporation: Co
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Below is information related to ABC Corporation:
Common Stock, $1 par value $4,500,000
Capital Contributed in Excess of Par Value—Common
Preferred Stock, 8.5%, $50 par value 2,000,000
Capital Contributed in Excess of Par Value— Preferred Shares 400,000
Deficit 1,500,000
Shares in Portfolio (at cost) 150,000
Determine Total Equity:
a. $8,800,000.
b. $5,800,000.
c. $6,100,000.
Step by step
Solved in 2 steps
- 2. Chillox has 5,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $19 per share. The balance sheet shows $61,000 $22,500 $66,500 Cash Debt $52,500 Other Current Assets Common stock $5,000 Net Fixed Assets Capital in excess of par $60,000 Retained earnings $32,500 Total Assets $150,000 Total Liabilities and Equity $150.000 The firm just announced a 10% stock dividend. Required: a) Show the changes in Balance Sheet after the stock dividend. b) Show the changes in Balance Sheet if the firm announces a $3 regular cash dividend instead of the stock dividend. c) Will you prefer paying cash dividends or will you use the cash instead for stock repurchase? Justify your decision.Presented below is information related to Sheridan Corporation: Common Stock, $1 par Paid-in Capital in Excess of Par-Common Stock 8 1/2% preferred Stock, $50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) $3480000 $6464000. $6315000. $7805000. $7954000. 555000 2040000 389000 1490000 149000 The total stockholders' equity of Sheridan Corporation isESPAÑOL INGLÉS FRANCÉS Below is information related to ABC Corporation: Common Stock, $1 par value $4,500,000 Capital Contributed in Excess of Par Value-Common Shares 550,000 Preferred Stock, 8.5%, $50 par value 2,000,000 Capital Contributed in Excess of Par Value- Preferred Shares 400,000 Deficit 1,500,000 Shares in Portfolio (at cost) 150,000 to. $6,100,000. b. $8,800,000. C. $5,800,000. MacBook Air DII PP V.
- Thunder Yard's total stockholders' Equity is P5,600.000, comprised of the following: • P1,000,000 in 8% cumulative preferred stock consisting of shares of P100 par value • P1,800,000 in Ordinary Shares of P5 par value per share issued at P8 • P1,600,000 in additional Paid in capital P1,200,000 in retained earnings There is a Dividend in Arrears for 2 years 1. Compute for Number of shares of Preferred Stock 2. Compute for Additional Paid In Capital: Preferred Stock 3. Book Value Per Share Ordinary Shares (Round-off Answer to two decimal places)The records of Alamo Corporation showed the following data Ordinary share capital, par P50 authorized 100,000 shares, issued 30,000 shares Compute the liability for dividends for each of the following independent case a The Board of Directors declared 15% cash dividend b The Board of Directors declared P5 cash dividend c The Board of Directors declared a merchandise dividends of P10 per share d The Board of Directors declared 25% stock dividends Stock are selling at P60 per share e The Board of Directors declared 10% stock dividends Stock are selling at P60 per shareEffect of financing on earnings per share
- Foley Corporation has the following capital structure at the beginning of the year. 5% Preferred stock, $50 par value, 20,000 shares authorized, 6,000 shares issued and outstanding Common stock, $10 par value, 60,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par Total paid in capital Retained earnings Total stockholders' equity $ 300,000 400,000 110.000 810,000 440,000 $1,250,000 Instructions (a) Record the following transactions which occurred consecutively (show all calculations). 1. A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts. 2. A 15% common stock dividend was declared. The average fair value of the common stock is $25 a share. 3. Assume that net income for the year was $160,000 (record the closing entry) and the board of directors appropriated $70,000 of retained earnings for plant expansion. (b) Construct the stockholders'…Use good accounting form in solutionhe records of Alamko Corporation showed the following data: Ordinary share capital, par P10, authorised 1,000 000 shares, issued 300,000 3,000,000 Share Premium 300,000 Treasury shares, 10,000 at (150,000) cost Retained Earnings 5,000,000 The Board of Directors declared a 15% stock dividend. Stocks are selling at P15. The entry to record on the date of declarationis Select the correct response: Retained Earnings 652,500 Stock dividends for distribution 435.000 Share Premium 217,500 Retained Earnings 450,000 Stock dividends for distribution 450,000 Retained Earnings 435,000 Stock dividends for distribution 435,000 Retained Earnings 675,000 Stock dividends for O distribution 450,000 Share Premium 225,000
- The following is the abstract of the shareholders' equity of Shake Corporation before declaration of cash dividends 12% Preference Share Capital, par P80, 30,000 shares all issued and outstanding P3,000,000 Ordinary Share Capital, par P40, 20,000 shares all issued and outstanding P1,000,000 Retained Earnings 5,500,000 The Board declared dividends of P1,200,000. No dividends were distributed last year. Required: Determine how much dividends the preference and ordinary shares will receive given the following independent situations: d. The Preference share is cumulative and fully participatingThe stockholders' equity section of BVA Corporation: USD 300,000 Preference share capital, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Ordinary share capital, no par, 750,000 shares authorized, 400,000 shares issued USD 1,350,000 Retained earnings (before the declaration of USD 1,400,000 dividends) Treasury shares, 10,000 ordinary shares at cost USD 80, 000 What is the dividend per preference share if the annual dividend on preference shares is USD45,000?
