Problem 18-5 (Algo) Shareholders' equity transactions; statement of shareholders' equity; financialstatement effects [LO18-6, 18-7, 18-8]Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2024-2026. AtDecember 31, 2023, the corporation's accounts included:Common stock, 112 million shares at $1 parPaid-in capital-excess of parRetained earnings($ in thousands)$ 112,000672,000910,000a. November 1, 2024, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable toshareholders of record November 15, to be paid December 1.b. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation thatBranch-Rickie was holding as an investment. The bonds had a fair value of $2.8 million, but were purchased two years previouslyfor $2.4 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The propertydividend was payable to shareholders of record March 13, to be distributed April 5.c. On July 12, 2025, the corporation declared and distributed a 4% common stock dividend (when the market value of the commonstock was $19 per share). Cash was paid in lieu of fractional shares representing 480,000 equivalent whole shares.d. On November 1, 2025, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable toshareholders of record November 15, to be paid December 1.e. On January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stockdividend when the market value of the common stock was $20 per share.f. On November 1, 2026, the board of directors declared a cash dividend of $0.55 per share on its common shares, payable toshareholders of record November 15, to be paid December 1.Required:1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions.2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period ($ in 000s). Net income was$390 million, $455 million, and $515 million for 2024, 2025, and 2026, respectively.

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Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…
Problem 1 Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2023 to 2025. At December 31, 2022, the corporation's accounts included (in thousands): Ordinary share capital, P1 par Share premium 105,000 630,000 Retained earnings 970,000 a. On November 1, 2023, the board of directors declared a cash dividend of PO 80 per share on its ordinary shares, payable to shareholders of record on November 15, to be paid on December 1. b. On March 1, 2024, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Ricki was holding as an investment. The bonds had a fair value of P1.6 million, but were purchased two years previously for P1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record on March 13, to be distributed on April 5. The fair value of the…
12. The following data are extracted from the shareholders' equity section of the statement of financial position of Dela Cruz Corporation: 12/31/2018 12/31/2019 Ordinary Shares, P2 par value P1,000,000 500,000 1,000,000 P1,020,000 580,000 1,046,000 Share Premium Retained Earnings During 2019, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2019. Profit for 2019 was a. P 46,000. b. P196,000. C. P216,000. d. P296,000.
6) Exercise 18-23 (Static) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capital—excess of par, preferred 1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required:1. Prepare the appropriate entries for these events: On March 3, the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). The investment…
12. The following data are extracted from the shareholders' equity section of the statement of financial position of Dela Cruz Corporation: 12/31/2018 12/31/2019 Ordinary Shares, P2 par value P1,000,000 P1,020,000 Share Premium 500,000 1,000,000 580,000 Retained Earnings 1,046,000 During 2019, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2019. Profit for 2019 was P 46,000. b. P196,000. а. c. P216,000. d. P296,000.
12. The following data are extracted from the shareholders' equity section of the statement of financial position of Dela Cruz Corporation: 12/31/2018 12/31/2019 Ordinary Shares, P2 par value P1,000,000 P1,020,000 Share Premium 500,000 1,000,000 580,000 Retained Earnings 1,046,000 During 2019, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2019. Profit for 2019 was P 46,000. b. P196,000. а. P216,000. d. P296,000. С. a 10% ordinary share dividend.
27. The shareholders' equity section of Ball Company's comparative balance sheets for the years ended December 31, 2021 and 2020, reported the following data: Common stock, $1 par per share Paid-in capital-excess of par Retained earnings ($ in millions) 2021 A. $28 million B. $718 million C. $130 million D. $118 million $ 61 छत लॅक बैंक 2 34 8 62 2020 $ 60 30 60 0 During 2021, Ball declared and paid cash dividends of $90 million. The company also declared and issued a small stock dividend. No other changes occurred in shares outstanding during 2021. What was Ball's net income for 2021?
3. the equity section of the of as at Problem #28 equity of the Rodriguez Corporation on June 30, 2017, is shown below: Share Capital 1,000,000 shares authorized, 250,000 shares issued and outstanding Share Premium-Ordinary Total Share Capital Retained Earnings Total Shareholders' Equity P1,500,000 P2,320,000 000'0 970,000 P3,290,000 Transactions for the next fiscal year were as follows: a. The board of directors declared a 2-for-1 share split. b. The board of directors obtained authorization to issue 50,000 shares of P100 par value, 6 % non-cumulative preference shares. Issued 12,000 ordinary shares for a building appraised at P96,000. C. d. Purchased 8,000 shares of the corporation's ordinary shares for P64,000. Issued 20,000 preference shares for P100 per share. e. f. Sold 5,000 shares of treasury stock for P35,000. g. Declared cash dividends of P6 per share on preference shares and P.20 per share on ordinary shares. h. Date of record. i. Paid the preference and ordinary shares cash…
Problem 18-12 (Algo) Various shareholders' equity topics; comprehensive; financial statement effects [LO18-1, 18-4, 18-5, 18-6, 18-7, 18-8] Part A In late 2023, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2024, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $15 per share. Also on January 2, all 2,000,000 shares of preferred stock are issued at $20 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2024. (Assume net income for the first quarter 2024 was $2,000,000.) Part B During 2024, the Nicklaus Corporation participated in three treasury stock transactions: a. On June 30, 2024, the corporation reacquires 300,000 shares for the…
Day 7 (6) Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period 2021–2023. At December 31, 2020, the corporation’s accounts included: ($ in thousands) Common stock, 117 million shares at $1 par $ 117,000 Paid-in capital—excess of par 702,000 Retained earnings 960,000 November 1, 2021, the board of directors declared a cash dividend of $0.90 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $3.3 million, but were purchased two years previously for $2.9 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed…
D. The stockholders' equity section of SKSU Corporation's balance sheet on December 31, 2019: Common stock, P10 par value; authorized 1,500,000 shares; issued and outstanding 900,000 shares Additional paid-in capital Retained earnings Total stockholders' equity P9,000,000 750,000 2,700,000 P12,450,000 Transactions during 2020 and other information relating to the stockholders' equity accounts were as follows: On January 26, SKSU reacquired 75,000 shares of its common stock for P11 per share. On April 4, SKSU sold 45,000 shares of its treasury stock for P14 per share. On June 1, SKSU declared a cash dividend of P0.95 per share, payable on July 15, 2020 to stockholders of record on July 1, 2020. On August 15, each stockholder was issued one stock right for each share held to purchase two additional shares of stock for P12 per share. The rights expire on October 31, 2020. On September 30, 150,000 stock rights were exercised when the market value of the stock was P12.50 per share. On…
Print by: Tanvi Varma374275:374275: Intermediate Accounting Theory and Practice MGMT X 120B (Summer 2020) / Ch. 15 HW *Exercise 15-18 Nash Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Nash took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Nash uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4.…

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