The capital structure of ABC Company at December 31, 2019 are as follows: 12% Preference share capital, P 200 par, 15,000 shares issued and outstanding Ordinary share capital, P 30 par, 250,000 shares issued and Outstanding Share premium-Preference Share premium-Ordinary Retained Earnings P 3,000,000 7,500,000 900,000 750,000 2,100,000 The following selected transactions relating to shareholder's equity were note in 2019: a.) Purchased and retired 2,000 preference shares at P 280 each. b.) Purchased 30,000 of its own ordinary shares at P 35 per share. c.) Reissued 5,000 treasury shares at P 38 each. d.) Shareholders donated to the company 20,000 ordinary shares when the market price is P 36 per share. e.) One half of the donated shares were issued for P 39 each. f.) Profit for 2019 was P 1,850,000. g.) The board of directors declared and paid the regular annual dividend on the preference share and P 1.50 per ordinary share dividend.

The capital structure of ABC Company at December 31, 2019 are as follows: 12% Preference share capital, P 200 par, 15,000 shares issued and outstanding Ordinary share capital, P 30 par, 250,000 shares issued and Outstanding Share premium-Preference Share premium-Ordinary Retained Earnings P 3,000,000 7,500,000 900,000 750,000 2,100,000 The following selected transactions relating to shareholder's equity were note in 2019: a.) Purchased and retired 2,000 preference shares at P 280 each. b.) Purchased 30,000 of its own ordinary shares at P 35 per share. c.) Reissued 5,000 treasury shares at P 38 each. d.) Shareholders donated to the company 20,000 ordinary shares when the market price is P 36 per share. e.) One half of the donated shares were issued for P 39 each. f.) Profit for 2019 was P 1,850,000. g.) The board of directors declared and paid the regular annual dividend on the preference share and P 1.50 per ordinary share dividend.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How much is the shareholder's equity at 12/31/2019?
7. What amount should BLACK WIDOW charge to compensation expense for the year December 31, 2023 as a result of the share appreciation right?
With the answers to questions 2 provided below please answer question 3 Answer the following questions: a) At the end of 2021 how many shares of stock would you have in FUSTA Company Limited b) What will be the total value of your shares in FUSTA Company Limited at the end of 2021? Number of Shares We Have in 2018 = 100 shares Dividend to Receive in 2018 = Number of Shares You Have x Dividend Per Share Dividend to Receive in 2018 = 100 shares x $2.75 = $275 Number of Shares That Can Be Purchased =Total Dividend Received / Market Price Of Share(aka SharePrice) Number of Shares That Can Be Purchased = $275 / $50.75 = 5.4187 shares Number of Shares You Have 2019 = 100 + 5.4187 = 105.4187 shares Dividend to Receive in 2019 = Number of Shares You Have x Dividend Per Share Dividend to Receive in 2019 = 105.4187 x $3.00 = $316.26 Number of Shares That Can Be Purchased = $316.26 / $55.15 = 5.7345 shares Number of Shares You Have 2020 = 105.4187 +…
Please answer in good accounting form. Thankyou What amount should BLACK WIDOW charge to compensation expense for the year December 31, 2023 as a result of the share appreciation right?
Walker Ltd. had the following share transactions in 2021: Event Shares Opening balance, common shares, January 1, 2021 120,000 Common shares issued, March 1, 2021 60,000 Preferred shares issued, May 1, 2021 25,000 Common shares repurchased, June 1, 2021 30,000 What was the weighted average number of common shares outstanding in 2021? Question 7 options: 112,500 169,166 152,500 150,000
Question 7 of 19 Fill in the blanks: The Maynard Corporation has outstanding 10,000 shares of 10%, P50 par-value, cumulative, nonparticipating preferred shares and 80,000, P10 par-value ordinary shares. There were no dividends in arrears. The board of directors voted to distribute P40,000 as dividends in 2020; P55,000 in 2021; and P65,000 in 2022
If Friday, October 4, 2019, is the record date for ABC Corporation, when must an investor have purchased the stock in order to be entitled to receive a declared dividend? Select one: O a. Thursday, October 3rd Ob. Wednesday, October 2nd c. Tuesday, October 1st
Question-based on, "Stockholders equity section". I have tried it but got it incorrect.
7. What amount should BLACK WIDOW charge to compensation expense for the year December 31, 2023 as a result of the share appreciation right? * On January 1, 2021, BLACK WIDOW Company offered its top management share appreciation right with the following terms: Predetermined price Number of shares P 100 per share 50,000 shares Service period 3 years Exercise date January 1, 2024 The share appreciation right is to be exercised on January 1, 2024. The quoted prices per share are P100, 124, 151 and 151 on January 1, 2021, December 31, 2021, December 31, 2022, December 31, 2023, respectively.
4. During 2020, Maldives Corporation started their company on January 1st and reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15.00 per share. Apr 15 Issued 2,000 common shares at $12.80 per share. May 30 Repurchased 1,000 common shares for a price of $13 Nov 30 Declared a 10% common stock dividend for the shareholders on record on Dec 15 and to be distributed on Dec 20. The market price of the common shares on this date was $12 per share. (a) Prepare all journal entries required for the above transactions for Maldives Corporation. No explanations are required. (b) What are the number of common shares outstanding at Dec 31, 2020?
On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical's equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the stockholders' equity if all but 60,000 share rights were exercised? 1,300,000 increase 1,800,000 increase 2,100,000 increase no change What is the effect on the stockholders' equity as a results of the issuance of stock rights? 200,000 increase no change…
On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of its common stock. A stockholder can buy one new share for every 5 rights plus P25 cash. The rights will expire on October 1, 2021. On July 31, 2021, the market price of a share with the right attached was P50, while the market price of the right alone was P5. Comical’s equity on July 31, 2021, comprised of the following: Ordinary Shares, P10 par P4,000,000 Subscribed ordinary shares 1,000,000 Share premium 600,000 Retained earnings 200,000 Treasury shares, 80,000 shares 1,750,000 What is the effect on the stockholders’ equity as a result of the issuance of stock rights? no change 2,500,000 increase 500,000 increase 200,000 increase What is the…