he accounts below appear in the December 31,2020 trial balance of Luna Company: Authorized share capital                                               30,000,000 Unissued share capital                                                   5,000,000 Subscribed share capital                                                3,000,000 Subscription receivable                                                 1,000,000 Share premium                                                                 10,000,000 Retained earnings unappropriated                           6,000,000 Retained earnings appropriated                                 2,000,000 Revaluation surplus                                                         4,500,000 Treasury shares, at cost,                                                1,500,000   In its December 31, 2020 statement of financial position, Luna should report total equity at:

1. The balance sheet of Quetico Inc. reported the following at December 31, 2020: A Shareholders' Equity B C Preferred shares, $0.40, 10,000 shares authorized 2 and issued $ 100,000 3 Common shares, 100,000 shares authorized* 400,000 45 Accumulated other comprehensive income Retained earnings 224,000 476,500 6 Total shareholders' equity 7 $ 1,200,500 *The common shares were issued at a stated value of $8.00 per share. Requirements a. Are the preferred shares cumulative or non-cumulative? How can you tell? b. What is the total amount of the annual preferred dividend? c. How many common shares are outstanding? d. Compute the book value per share of the common shares. No preferred dividends are in arrears, and Quetico Inc. has not yet declared the 2020 dividend..

Below are the accounts shown in the December 31, 2020 trial balance of ABC Corporation: Preference shares, P50 par, 100,000 authorized, 40,000 shares issued Ordinary shares, P100 par, 200,000 authorized, 50,000 shares issued Subscribed preference share, 20,000 shares Subscribed ordinary shares, 20,000 shares Subscription receivable, preference due March 31, 2021, P180,000 Subscription receivable, ordinary due June 1, 2021, P260,000 Treasury stock, preference, 10,000 shares reacquired at P86 Share premium – Ordinary shares, P1,500,000 Share premium – Preference shares, P2,100,000 Share premium from Treasury, P400,000 Donated Capital, P600,000 Ordinary share warrants outstanding, P300,000 Ordinary share options outstanding, P200,000 Accumulated Profits, P3,100,000 Revaluation Surplus, P1,500,000 Reserve for plant expansion, P1,200,000 Unrealized Gain on financial asset at FMV through OCI/L, P200,000   How much is the total contributed capital of ABC Corporation? Group of answer choices…

The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity ($ in millions) Common stock, 200 million shares at $1 par $ 200 Paid-in capital—excess of par 1,600 Paid-in capital—share repurchase 2 Retained earnings 1,000 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are (a) retired and (b) viewed as treasury stock. On February 5, 2021, TNL Systems purchased 8 million shares at $12 per share. On July 9, 2021, the corporation sold 3 million shares at $14 per share. On November 14, 2023, the corporation sold 3 million shares at $9 per share. 2. Prepare the shareholders’ equity section of TNL Systems’ balance sheet at December 31, 2023, comparing the two approaches. Assume all net income earned in 2021–2023 was distributed to…