jj The outstanding share capital of Sheng Inc. includes 48,000 shares of $9.60 cumulative preferred and 83.000 common shares, allissued during the first year of operations. During its first four years of operations, the corporation declared and paid the followingamounts in dividends:Year2021202220232024TotalDividendsDeclaredPreferredCommonTotalS0489,0001,018,000489,000Required:Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each classover the four years..SS2021000$S2022489.000Total Dividends2023489.000 $0 $20240S$Total489,0000He

The dividend is declared to the shareholders from the retained earnings of the business. The…

Answered: The outstanding share capital of Sheng…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter12: Statement Of Stockholders’ Equity (stockeq)

Section: Chapter Questions

Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...

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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.
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
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.
Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
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.
At the beginning of current year, BFAR Company was organized and authorized to issue 100,00 shares with P50 par value. During the current year, the entity had the following transactions relating to Shareholders' Equity • Issued 10,000 shares at P70 per share • Issued 20,000 shares at P80 per share • Purchased 1,000 Treasury shares at P100 per share. Reported net income of P1,000,000. . Declared cash dividends of P200,000. Compute the total Shareholders' Equity at year-end.
At the beginning of current year, BFAR Company was organized and authorized to issue 100,00 shares with P50 par value. During the current year, the entity had the following transactions relating to Shareholders' Equity • Issued 10,000 shares at P70 per share • Issued 20,000 shares at P80 per share Purchased 1,000 Treasury shares at P100 per share. Reported net income of P1,000,000. • Declared cash dividends of P200,000. ● Compute the total Shareholders' Equity at year-end. 7,200,000 O 8,000,000 O2,200,000 O 3,000,000
At the beginning of the current year, BFAR Corp. was authorized to issue 100,000 shares with P50 par value. During the year, the company had the following chronological transactions related to shareholders' equity: • Issued 10,000 shares at P70 per share • Issued 20,000 shares at P80 per share Reported net income of P1,239,000 . Declared and paid cash dividends of P394,000 . Declared a 10% share dividend. Fair market value on this date is P105 per share. . Distributed the share dividend. Fair market value on this date is P90 per share. • Purchased 3,000 treasury shares at P100 per share How much is the total shareholders' equity at year-end? ●
The outstanding share capital of Sheng Inc. includes 43,000 shares of $9.60 non-cumulative preferred and 78,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends. Total Dividends Declared Year 2017 $ 2018 2019 2020 2017 2018 2019 2020 0 440,000 1,058,000 440,000 Required: Determine the total dividends paid in each year to each class of shareholders under the assumption that the preferred shares are non-cumulative. Also determine the total dividends paid to each class over the four years. (Leave no cells blank, enter "0" where ever required.) Common Total Dividends Preferred Total for four years
At the beginning of current year, Lauretta Company reported the following shareholders' equity: Share capital = 1,500,000; Share premium = 3,000,000; Retained earnings = 2,000,000. The entity had 400,000 authorized shares of P5 par value, of which 300,000 shares were issued and outstanding. During the year, the entity acquired 50,000 shares for P10 per share to be held as treasury. The shares were originally issued at P8 per share. The entity used the cost method to account for treasury shares. At year-end, the entity declared and distributed a property dividend of inventory. The inventory had a P750,000 carrying amount and a P1,000,000 fair value. The net income for 2019 was P2,500,000. What amount should be reported as unappropriated retained earnings at year-end?

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