FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- 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 Sharesarrow_forwardPrepare the shar (b) financial position at Decen to shareholders' equity 1. The following information relates Preference Share Capital, 12%, P50 par cumulative, 10,000 shares authorized Ordinary Share Capital, P1 stated value, 2,000,000 shares authorized Share Premium - Preference Paid in Capital in Excess of Stated Value Retained Earnings P 400,000 1,000,000 80,000 1,400,000 1,816,000 40,000 Treasury Shares - Ordinary (10,000 shares) During 2018, the corporation had the following transactions and events pertaining to its shareholders' equity: Issued 20,000 ordinary shares for P100,000 Sold 6,000 treasury shares for P28,000. Issued 5,000 shares of ordinary share capital for a piece of equipment with cash price of P25,000. Purchased 1,000 shares of ordinary for the treasury at a cost of P6,000. Declared the annual dividend on preference share and PO.20 cash dividend on ordinary share. Determined that profit for the year was P377,000 Feb. 1 Apr. 30 Sept. 1 Nov. 2 Dec. 31 31 31 The fair…arrow_forwardThe equity section of Windsor SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 94,600 shares, outstanding 84,600 shares) Share capital-ordinary (R$1 par, authorized and issued 10,000,000 shares) Share premium-ordinary Retained earnings Net income Earnings Per Share: Income from continuing operations Discontinued operations, net of tax R$125,960,000 Net income 31,020,000 R$ R$4,230,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$11,280,000 (before tax) as a result of discontinued operations. Preference dividends of R$253,800 were declared and paid in 2022. Dividends of R$ 940,000 were declared and paid to ordinary shareholders in 2022. 10,000,000 Compute earnings per share data as it should appear on the income statement of Windsor SA. (Round answers to 2 decimal places, e.g. 1.48.) 19,270,000 156,980,000 R$190,480,000arrow_forward
- If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for S66,000arrow_forwardPlease Complete all requirement And do not Give image formatarrow_forwardA Company issued $5,00,000/- new capital divided into $.10/- shares at a premium of $4/- per share payable as On Application $1/- per share On Allotment $4/- per share & $.2/- premium On Final Payment $.5/- per share & $.2/- premium Overpayments on application were to be applied towards sum due on allotment. Where no allotment was made money was to be returned in full. The issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 were sent letters of regret. All money due on allotment and final call was duly received. Make the necessary entries in the company‟s book.arrow_forward
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