Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below:Ordinary Share capital, USD20authorized 50,000 shares; issued andoutstanding 30,000 sharespar value,USD600,000Ordinary Share premiumRetained earningsUSD150,000USD230,000In addition, during theyear,these transactions happened:2,500 shares were repurchased as treasury shares at a price of USD28500 treasury shares were sold at a price of USD32а.pershare.b.pershare.700 shares of treasury shares were sold at a price of USD24 per share.Sizzle Company reported a net income of USD120,000 for the current year.с.d.Please calculate the a) balance of the treasury shares account and the b) balance of Share Premium –Treasury Shares account of Sizzle Company after recording all these transactions. Show completesolution and explanation.

The treasury stock includes the shares that are repurchased from the shareholders.

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: value, authorized 50,000 shares; issued and Ordinary Share capital, USD20 par USD600,000 outstanding 30,000 shares Ordinary Share premium Retained earnings USD150,000 USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 per share. 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. с. d. Please calculate the a) balance of the treasury shares account and the b) balance of Share Premium – Treasury Shares account of Sizzle Company after recording all these transactions. Show complete solution and explanation.

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: value, authorized 50,000 shares; issued and Ordinary Share capital, USD20 par USD600,000 outstanding 30,000 shares Ordinary Share premium Retained earnings USD150,000 USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 per share. 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. с. d. Please calculate the a) balance of the treasury shares account and the b) balance of Share Premium – Treasury Shares account of Sizzle Company after recording all these transactions. Show complete solution and explanation.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...

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Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.
Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.
Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.
Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements.
Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares par value, USD600,000 Ordinary Share premium USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: а. 2,500 shares were repurchased as treasury shares at a price of USD28 per share. b. share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. per с. d. Sizzle Company reported a net income of USD120,000 for the current year. Please calculate the balance of the Share Premium – Treasury Shares account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.
Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares par value, USD600,000 Ordinary Share premium USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: а. 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. b. per share. с. d. Sizzle Company reported a net income of USD120,000 for the current year. Please calculate the balance of the Retained Earnings - Unappropriated account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.
On January 1, 2020, Volume Company had the following account balance carried over from the previous year. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired. Share Capital 450,000 Share Premium- Ordinary 90,000 Share Premium- Treasury 3,000 Retained Earnings 128,000 Total Shareholders' Equity 626,000 Questions: 1. What is the ending balance of the Share Capital? 2. What is the ending balance of the Share Premium - Ordinary? 3. What is the ending balance of the Share Premium - Treasury?
Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 par value, authorized 50,000 shares; issued and outstanding 30,000 shares USD600,000 Ordinary Share premium Retained earnings USD150,000 USD230,000 In addition, during the year, these transactions happened: share. 2,500 shares were repurchased as treasury shares at a price of USD28 500 treasury shares were sold at a price of USD32 per share. 700 shares of treasury shares were sold at a price of USD24 per share. а. per b. с. d. Sizzle Company reported a net income of USD120,000 for the current year. Please calculate how many shares of ordinary share capital are outstanding of Sizzle Company after recoding all these transactions. Show complete solution and explanation.
On January 1, 2020, Volume Company had the following account balance carried over from the previous year [Refer to the figure]. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired. 1. What is the ending balance of the Share Capital? 2. What is the ending balance of the Share Premium - Ordinary? 3. What is the ending balance of the Share Premium - Treasury?
nts CFAS Company showed the following information from its shareholders' equity at year-end before the effect of the transaction below: Ordinary share capital P6,250,000 Share premium 3,125,000 Retained earnings 3,724,000 Treasury shares (at cost) 1,530,000 The ordinary shares were originally issued for P187.50 per share. At the end of the year, CFAS Company retired 5,100 shares held in treasury. The treasury shares had a P125 par value per share and an average cost per share of P300. (Input your answers as figures, do NOT put any comma, peso sign or extra spaces. E.g. if your answer is one thousand, please input 1000): 1. How much is the adjusted ordinary share capital at year end? 2. How much is the adjusted share premium at year end? 3. How much is the adjusted balance of retained earnings at year end?
On January 1, 2020, Volume Company had the following account balance carried over from the previous year [Refer to the figure]. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired. Questions: What is the ending balance of the Share Capital? What is the ending balance of the Share Premium - Ordinary? What is the ending balance of the Share Premium - Treasury?
At the start of the year, Brake Company had 300,000 issued P100-par ordinary shares and 120,000 issued P20-par preference shares. The following occurred during the year: How much is the ending balance of the Share Premium - Ordinary? How much is the amount of Legal Capital as of yearend? How much is the total equity-related receivables as of yearend