Ordinary share capital, P2 par Share premium-ordinary Share premium-treasury Retained earnings Treasury shares (2.420 shares) ollowing transactions occurred in 2023: P 360.000 3,640,000 45,000 649,378 (145,200)
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- The shareholders' equity section of the statement of financial position of Riley Ltd at 30 June 2019 is as follows Share capital General reserve Foreign currency translation reserve Retained earnings 2019 $200000 50000 74000 170000 $494000 2018 $160 000 40000 60000 160000 $420 000 Additional information Riley Ltd issued 16000 shares at $2.50 each on 31 May 2019 for cash A transfer of $10000 was made from retained earnings to the general reserve. Comprehensive income for the year was $144 000, including a foreign currency translation gain of $14 000 recognised in other comprehensive income. Dividends paid during 2019 comprised: final dividend for 2018, $50 000; interim dividend, $60 000 Required: Prepare the statement of changes in equity of Riley Ltd for the year ended 30 June 2019 in accordance with AASB 101 IAS 1.Required - In accordance with IAS 33 Earnings per share a. Compute basic earnings per share for 2019, b. Compute diluted earnings per share for 2019 , c. State the Presentation and Disclosure requirements The information below pertains to Rainfall plc for 2019. Net Income for the year 8% convertible bonds issued at par ($1,000 per bond); $2,000,000 each bond is convertible into 30 shares of ordinary shares; the liability component of the bonds is $1,800,000 based on a market rate of 9% 6% convertible, cumulative preference shares, $100 par value; each share is convertible into 3 shares of ordinary shares. Ordinary shares, $10 par value $1,200,000 $4,000,000 $6,000,000 Tax rate for 2019 40% Average market price of ordinary shares $25 per shareRequired - In accordance with IAS 33 Earnings per share 3. Compute basic earnings per share for 2019 b. Compute diluted earnings per share for 201 c. State the Presentation and Disclosure requirements i The information below pertains to Rainfall ple for 2019. Net Income for the year 8% convertible bonds issued at par ($1,000 per bond); $2,000,000 each bond is convertible into 30 shares of ordinary shares; the liability component of the bonds is $1,800,000 based on a market rate of 9% 6% convertible, cumulative preference shares, $100 par value; each share is convertible into 3 shares of ordinary shares. Ordinary shares, $10 par value Tax rate for 2019 $1,200,000 $4,000,000 $6,000,000 40% Average market price of ordinary shares $25 per share
- International Accounting and reporting please answer this question showing full workings Special Plc has an issued share capital at 1 January 2019 of 1,000,000 ordinary shares of 20p each and 50,000 convertible preference shares of £1 each. The preference shares are classified as equity receiving a dividend of £2.50 per share. These shares are convertible in 2025 on the basis of one ordinary share for one preference share. There is also loan capital of 10% convertible loan of £250,000. The loan is convertible in 2028 on the basis of 500 ordinary shares for each £1,000 of loan, and the tax rate is 40%. Earnings after tax for the year ended 31 December 2019 are £5,000,000. Required: (a) Calculate the diluted EPS for 2019. (b) Calculate the diluted EPS assuming that the convertible preference shares were receiving a dividend of £6 per share instead of £2.50.Petrock Company provided the following information at year-end: 2020 2021 Ordinary share capital Convertible preference share capital 10,000 shares 90,000 shares 90,000 shares 10,000 shares During 2021, the entity paid dividends of P10 per ordinary share and P24 per preference share. · The preference share capital is convertible into 20,000 ordinary shares. The net income for 2021 was P2,850,000. Required: 1. Basic earnings per share 2. Diluted earnings per shareD. The stockholders' equity section of SKSU Corporation's balance sheet on December 31, 2019: Common stock, P10 par value; authorized 1,500,000 shares; issued and outstanding 900,000 shares Additional paid-in capital Retained earnings Total stockholders' equity P9,000,000 750,000 2,700,000 P12,450,000 Transactions during 2020 and other information relating to the stockholders' equity accounts were as follows: On January 26, SKSU reacquired 75,000 shares of its common stock for P11 per share. On April 4, SKSU sold 45,000 shares of its treasury stock for P14 per share. On June 1, SKSU declared a cash dividend of P0.95 per share, payable on July 15, 2020 to stockholders of record on July 1, 2020. On August 15, each stockholder was issued one stock right for each share held to purchase two additional shares of stock for P12 per share. The rights expire on October 31, 2020. On September 30, 150,000 stock rights were exercised when the market value of the stock was P12.50 per share. On…
- JOURNALIZING McAllister Co.'s shareholders' equity on December 31, 2020 shows the following accounts and balances: Preference share capital, P20 par P 2,000,000 Ordinary share capital, P5 par 8,000,000 Share premium - preference 5,000,000 Share premium - ordinary 12,000,000 Retained earnings 10,000,000 The following transactions occurred in 2021: January 31 Issued 100,000 preference shares at P25 per share Issued 200,000 ordinary shares, receiving 1,600,000 March 31 Issued 50,000 preference shares and 125,000 ordinary shares, receiving P3,600,000. The fair value of each preference share and each ordinary share on this date was P30 and P20, respectively. Issued 20,000 ordinary shares. These shares were issued at P27 per share. Issued P10,000,000, five-year, 12% convertible bonds at 103. Without the conversion April 30 June 30 option, the bonds would be sold at par. Each P1,000 bond is convertible into 150 ordinary shares. September 30 Received a unit of equipment and a set of furniture…Questions: Calculate the basic EPS for ABC Ltd for the year ending 30 June 2023 with the follwoing details: ABC Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 have exceeded expectations—profit before tax is $5.597 million and income tax expense is $1.847 million. As at 30 June 2022, there were 9.75 million ordinary shares on issue. On 11 May 2023, 3.25 million further ordinary shares were issued at a price of $2.30—paid to $2.00. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price.The shareholders' equity section of De Guzman Company revealed the followinginformation on Dc. 31, 2019: Preference Shares, P100 par P2,300,000Share Premium-Preference 805,000Ordinary Shares, P15 par 5,250,000Share Premium-Ordinary 2,750,000Subscribed Ordinary Shares 50,000Retained Earnings 1,900,000Notes Payable 4,000,000Subscription Receivable-Ordinary 400,000 Required: How much is the legal capital?
- An entity had the following securities outstanding as of December 31, 2021: 10% convertible bonds payable, each P1,000 bond convertible into ten ordinary shares Ordinary share capital P100 par, 250,000 shares authorized, 100,000 shares issued Net income 4,000,000 10,000,000 5,000,000 Income tax rate 30% Requirement: A. Compute for the Basic earnings per share. B. Compute for the Diluted earnings per share.Bay Holdings Limited: 30 June 2021.Required: Statement of financial position as at: 30 June 2021InformationBALANCE SHEET ACCOUNTSOrdinary share capital 2 648 000Retained income (1 Jul 2020) 490 000Shareholders for dividends 280 000Fixed deposit 60 000Mortgage bond 336 000Fixed/tangible assets (Carrying value) 4 021 000Debtors control 45 000Creditors control 85 200Creditors for salaries 12 300Provision for bad debts ?SARS (Income tax) 400 000SARS (PAYE) 6 650Expenses payable (accrued) 7 200Income receivable (accrued) 7 950Bank 28 450Trading stock/inventory 129 600Consumable stores 5 600 Additional information1.The net profit after tax for the year amounted to R875 0002.Provision for bad debts should be adjusted to 5 % of debtors.3.One third of total fixed assets matures on 31 August 2021.4.A portion of loan amounting to R48 000 will be paid on 31 December 2021.5.SARS (Income tax) owes the business R25 000 for tax overpayment.Part A The equity section of Island Ltd as at July 1, 2020 is as follows: Share capital 2,000,000 ordinary shares, issued at $2 fully paid 6% 20,000 preference shares, issued at $3, fully paid General reserve Revaluation surplus Retained earnings $4,000,000 60,000 50,000 8,000 590,000 During the year ended June 30, 2021, the following transactions occurred: (1) On July 1, 2020, Island Ltd issued 2,000 ordinary shares at $2 each by private placement. All new shares are entitled to interim and final dividends. (ii) Declared $0.06 per share of interim dividend to all ordinary shareholders on December 1, 2020. (i) Payment of interim dividend to ordinary shareholders was made on February 28, 2021. (iv) Declared and paid a dividend to preference shareholders on March 31, 2021. (v) Declared final dividend of 2 cents per share to all ordinary shareholders on June 30, 2021. Required: Prepare journal entries for the above transactions. Show all workings and narrations.