Required information [The following information applies to the questions displayed below.) a. On March 22, purchased 700 shares of RPI Company stock at $22 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 350 shares of RPI stock for $32 per share. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including+ or -) for each transaction. Assets Liabilities 0 B 8. . + - ences b. G. ن 0. + Equity

Required information [The following information applies to the questions displayed below.) a. On March 22, purchased 700 shares of RPI Company stock at $22 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 350 shares of RPI stock for $32 per share. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including+ or -) for each transaction. Assets Liabilities 0 B 8. . + - ences b. G. ن 0. + 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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3. Earnings and Profits. A distribution is made when D, Inc. has assets valued at $500,000 (basis of $300,000), E&P of $80,000, and 10,000 shares of stock out-standing. T receives assets valued at $100,000 (basis of $60,000) for all his D stock (2,000 shares with a basis of $25,000). Compute the corporation’s E&P balance after the exchange if it is treated as (a) a dividend, or as (b) a sale.
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. Purchased 1,000 shares of Xerox stock at $16 per share. July 20 August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. $2.50 per share cash dividend on the PepsiCo shares. October 1 Received a December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. dividend on the PepsiCo shares. December 31 Received a $1.50 per share cash The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13.
The Tornado Truck Body Company decides to repurchase 10,000 shares of its common stock on January 20. The stock has $1 par value, and the market value per share of common stock on January 20 is $8.75. The company decides to sell 5,000 of the treasury stock shares on April 30 for $9.00 per share. What is the amount of the gain recognized as a result of the transaction? Group of answer choices A)$40,000 b)$0 c)$45,000 d)$1,250 e)None of the above
Required information [The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $55 cash per share. b. Reacquired 25,000 shares at $50 cash per share. c. Reissued 10,000 shares from treasury for $51 per share. d. Reissued 10,000 shares from treasury for $49 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Contributed Capital: Total Contributed Capital Total GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Total Stockholders' Equity
Can you show me step by step how you got the number of outstanding shares and the total paid in capital
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. Purchased 1,000 shares of Xerox stock at $16 per share. July 20 August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. share cash dividend on the PepsiCo shares. October 1 Received a $2.50 per December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. 2. Prepare a table to compare the year-end cost and fair values of Rose's short-term stock investments. Comparison of Cost and Fair Values for Stock…
Tom Yuppy, a wealthy investor, paid $49,920 for 1,280 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,560 shares of stock to Yuppy for $39 per share. Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. LEUIG CORP. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Assets Stockholders' Equity Revenue Expense = Net Income Flow Event Common PIC in Cash Land Stock Excess 1- Common stock 2- Issue of additional shares
a. a. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. b. C. Required information [The following information applies to the questions displayed below.] C. a. On March 22, purchased 880 shares of RPI Company stock at $24 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 440 shares of RPI stock for $34 per share. Assets = = = = = = Liabilities + + + + + + Equity
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Rose Company had no-short investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the PepsiCo shares. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. October 1 Received a $2.50 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the pepsi shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. Prepare the current asset section of the balance sheet for the fair value adjustment for Rose's short-term investments. Note: Amounts to be deducted should be…