NAME: SCORE: SECTION: PROFESSOR: Problem #23 The shareholders' equity section of Buenaflor Technologies as at Dec. 31, 2018 appeared as follows: 5% Cumulative Preference Shares, P100 par, 50,000 shares authorized, shares issued P2,000,000 Ordinary Shares, P5 par; 25,000 shares issued Share Premium-Ordinary Retained Earnings 0,000 shares authorized; 750,000 650,000 Required: Provide the answers to each of the following questions: 1. How many preference shares were issued? 2. What was the total issue price of the preference shares? 3. What amount should be recorded in the ordinary shares account? 4. What was the total issue price' per share of the ordinary shares? 5. What is the amount of required preference dividends? 6. What is the amount of total shareholders' equity?

NAME: SCORE: SECTION: PROFESSOR: Problem #23 The shareholders' equity section of Buenaflor Technologies as at Dec. 31, 2018 appeared as follows: 5% Cumulative Preference Shares, P100 par, 50,000 shares authorized, shares issued P2,000,000 Ordinary Shares, P5 par; 25,000 shares issued Share Premium-Ordinary Retained Earnings 0,000 shares authorized; 750,000 650,000 Required: Provide the answers to each of the following questions: 1. How many preference shares were issued? 2. What was the total issue price of the preference shares? 3. What amount should be recorded in the ordinary shares account? 4. What was the total issue price' per share of the ordinary shares? 5. What is the amount of required preference dividends? 6. What is the amount of total shareholders' equity?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Walking Bear Resources Inc. Equity Section of the Balance Sheet March 31, 2023 Contributed capital: Preferred shares, $17 cumulative, 3,500 shares authorized, issued, and outstanding Common shares, unlimited shares authorized, se,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 1,190,000 1,200,000 2,390,000 472,000 2,062,000 Required: a. Refer to the equity section above. Assume that the preferred are convertible into common at a rate of eight common shares for each share of preferred. if 1000 shares of the preferred are converted into common on April 1, 2023, prepare the journal entry
1- The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2024 12/31/2023 Common stock, $5 par; 38 million shares authorized; 33 million shares issued and 29 million shares outstanding at 12/31/2024; and _____________blank million shares issued and _____________blank shares outstanding at 12/31/2023. $ 165 million $ 145 million Additional paid-in capital on common stock 525 million 402 million Retained earnings 190 million 162 million Treasury common stock, at cost, 4 million shares at 12/31/2024 and 2 million shares at 12/31/2023 (65 million) (43 million) Total shareholders’ equity $ 815 million $ 666 million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2024? 2- Yellow Enterprises reported the following ($ in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,300…
a. P25.00 b. P26.40 c. P27.20 d. P29.00 e. answer not given
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Problem 4 (Adapted)The shareholders equity of Joyce corporation on Dec. 31, 2018 shows the following account balances:10% preference share, 10,000 shares, 100 par 1,000,00012% preference share, 12,000 shares, 100 par 1,200,000Ordinary share, 20,000 shares, 40 par 800,000 Share premium 640,000Accumulated profits 960,000The 10% preference share is cumulative and fully participating, while the 12% preference share is non-cumulative and fully participating. The last payment of dividends was on Dec. 31, 2016. What is the book value per share of ordinary shares?
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courses/_16956_1/cl/outline Final Project XYZ, Inc. had the following Stockholder's Equity Balances as of 1/1/21: Preferred Stock-500 shares @ $100 par value Common Stock-10,000 shares @ $10 par value Additional Paid-in Capital Retained Earnings During the year the following events occurred: 5000 share of common stock was issued on 3/1/21 at $12 per share. 1000 shares of its on stock was purchased on 6/1/21 at $15 per share Net Income for the year was $45,000 XYZ, Inc. declared a 2 for 1 stock split on 11/1/21 Dividends declared 12/15/21 at $1.50 per share to be paid 1/15/22 Calculate the following items as of 12/31/21 1. Total Contributed Capital 2. Retained Earnings Balance 3. Total stockholder's Equity $500,000 $100,000 $250,000 $700,000
Problem 1. Dividends on Preference and Ordinary Shares The preference and ordinary shares outstanding of ABC Company on December 31, 2020 follows: 8% Preference shares, P10 par, cumulative, participating, 40,000 shares authorized, 10,000 shares issued and outstanding P100,000 Ordinary Shares, P2 par, 10,000,000 shares authorized, 250,000 shares issued and outstanding 500,000 Total Preference and Ordinary Shares P 600,000 Required: Calculate the amount of dividends received by preference and ordinary shareholders, respectively, under each of the following assumptions: 1. Preference dividends for 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P56,000. 2. No dividends are in arrears. On December 31, 2020, ABC declared a total dividend of P66,000. 3. Preference dividends for 2018 and 2019 are in arrears. On December 31, 2020, ABC declared a total dividend of P88,000.
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