The shareholders equity of High Company included P3,000,000 of P10 par ordinary share capital and P6,000,000 of 6% P50 par cumulative preference share capital. The board of direc of P900,000 in 2019 after paying P300,000 cash dividends in 2018 and 500,000 in 2017. divideris What amount of cash dividends was received by ordinary shareholders in 2019? Select the correct response: O 450,000 O 300,000 O 480,000 O 540,000 < Previous Continue >
Q: ABC Co. 's shareholders' equity on December 31,2020 are as follows: 7% preference shares P100 par…
A: Book value per share is determined by dividing the net assets of the entity by total ordinary shares…
Q: The shareholders' equity section of De Guzman Company revealed the following information on Dc. 31,…
A: The share capital of a company may include various types of capital such as ordinary share capital,…
Q: The Board of Directors of Merck Femies Incorporated at their meeting on May 19, 2020 declared a P10…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Crystal Company provided the following shareholders' equity on December 31, 2019: Ordinary share…
A: Yearly dividend payable to preference shareholders = P100,000,000 × 5% = P5,000,000 Cumulative…
Q: At December 31, 2019 and 2018, New Corporation had outstanding 4,000 shares of P 100 par 6%…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: Part of the Financial Position of Candy Inc. as of Dec. 31, 2019 shows the following: P 56,000…
A: Liquidation of the company is the winding process of the company whether by the mutual decision in…
Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…
A: Preference shareholders receive dividends first on preference and then the remaining dividend will…
Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: The NiceWay Corporation's statement of financial position shows the total stockholders' equity of…
A: The book value per share is calculated as total shareholders equity divided by number of shares…
Q: Information for the next four (4) Questions. Spencer, Inc., has P800,000 of 8% preference shares and…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: XYZ Co. had 600,000 ordinary shares issued and outstanding at December 31, 2019. During 2020, no…
A: Earnings per share: When the net income is divided by the number of outstanding shares, we get…
Q: XYZ Corp. declared P1,800,000 cash dividends to its preference and ordinary shareholders in 2020. No…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: The capital structure of Park Do Ha Company on December 31, 2019 follows: 12% Preference share…
A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…
Q: Affleck Company has the following types of outstanding shares at December 31, 2020: ·…
A: Dividend on 12% Preference Share = P4,000,000 x 12% = P480,000 Dividend on 10% Preference Share =…
Q: Waterway Inc., has 3700 shares of 5%, $50 par value, cumulative preferred stock and 99400 shares of…
A: Introduction Preferred dividends are paid before the payment of dividends on common stock.…
Q: At December 31, 2019 and 2020, Lapham Corp. had 200,000 shares of common stock and 20,000 shares of…
A: The earnings per share is calculated as net income available to common shareholders divided by…
Q: During 2019, Crockett, Inc.'s net income was $200,000. Its common stockholders equity was $700,000…
A: given that, net income for the year = $200000 common stockholders equity at the beginning of the…
Q: 5,770,000 On September 15, 2021, Norton Corporation declared a $170,000 dividend to be paid on…
A: Solution Given Number of preference share 5000 Number of common share 10000 Amount…
Q: At December 31, 2019 and 2018, New Corporation had outstanding 4,000 shares of P 100 par 6%…
A: Cumulative preference shares are those shares that are paid dividends for the past periods first, in…
Q: The Red Violet Company paid a total of P 610,000 dividends in 2020 to its 250,000 shares of P 10 par…
A: a) Order of payment Type of shares Total amount of dividend Calculations 1st…
Q: Shilling Company reports the following information for its fiscal year end of March 31,2019:Common…
A: Given information is: Shilling Company reports the following information for its fiscal year end of…
Q: The shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital…
A: A dividend is considered as a part of the distributable profit distributed by the company to its…
Q: For the year 2019, a business reports $450,000 increase in Share capital - Ordinary, $5 par value,…
A: Given that, increase in share capital = $450000 Increase in share premium = $550000 shares issued in…
Q: the shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Siemens SAOG issued 3, 000,000 equity shares valued at OMR 0.200 Baize each in the year 2019. An…
A: Equity share capital of the company means par value of shares of the company. It means par value of…
Q: JOURNALIZING McAllister Co.'s shareholders' equity on December 31, 2020 shows the following accounts…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: On January 1, 2020, Blue Company’s board of directors declared a cash dividend of P6,000,000 to…
A: The regular dividend can be defined as the distribution of profits to the shareholders of the…
Q: On December 31, 2021, EOS Co's shareholders' equity consisted of the following: 8%, cumulative…
A: Book Value Per Share (BVPS) refers to the per-share value of equity on an accrual accounting basis…
Q: The shareholders' equity of Blue Corporation includes OMR 500,000 of OMR 1 par common stock and OMR…
A: Preference dividend is to paid fully, to pay dividend on common stock. Any arrears of dividend will…
Q: M. Bot Corporation has 10,000 shares of 8%, $100 par value, cumulative preferred stock outstanding…
A: Given, Total Dividend = $375,000 Annual Preferred Dividend = 10,000 * $100 * 8% = $80,000
Q: At December 31,2018 and 2019, ABC Company had outstanding 4,000 shares of P 100 par value, 12%…
A: Formula: Preferred dividend = Total preferred shares x PAR value x Rate of preferred shares.
Q: The capital accounts of Boom Company as of yearend 2021 are as follows: Ordinary Share Capital (P10…
A: Total market value of Ordinary Share Capital = Ordinary Share Capital + Share Premium = 500,000 +…
Q: Mack Company reported the following outstanding share capital on December 31, 2020: - 30,000…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Coronado, Inc. has 3500 shares of 4%, $50 par value, cumulative preferred stock and 70000 shares of…
A: Introduction: Dividends: Dividends are given to shareholders of the company. Its a kind of return on…
Q: As of Dec. 31, 2020, DM Corporation has 10% Preference shares (cumulative and participating) with…
A: The cumulative preference shareholders have the right to receive the dividend even if it is in…
Q: At December 31, 2019 and 2018, New Corporation had outstanding 4,000 shares of P 100 par 12%…
A: Cumulative preference shareholders are paid dividend including the arrears before the payment of…
Q: The shareholders' equity of Rockets Corporation at the end of 2020 and 2019 are as follows: 2020…
A: Average issue price can be calculated by dividing the total amount of preference share i.e par value…
Q: Outstanding stock of the Marigold Corporation included 20600 shares of $5 par common stock and 10300…
A: Calculations: 2019 Preferred Dividend payable (10,300 x $10) x 7% $7,210 Dividends paid…
Q: Marigold, Inc. has 10500 shares of 4%, $100 par value, noncumulative preferred stock and 105000…
A: A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,…
Q: winter provided the following shareholders’ equity on December 31, 2021: Preference share…
A:
Q: Quadrant Corporation paid dividends of P2,000,000 and P3,000,000 at the end of 2019 and 2020,…
A: Given that preference shares are cumulative in nature. So if the preference shares are cumulative in…
Q: ABC Co. had 600,000 ordinary shares issued and outstanding at December 31, 2019. During 2020, no…
A: Earnings per share (EPS) is the ratio of net income available for common shareholders and number of…
Q: A) M. Sunland Corporation has 20,000 shares of 8%, $100 par value, cumulative preferred stock…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: ABC Co. had 600,000 ordinary shares issued and outstanding at December 31, 2019. During 2020, no…
A: Investors will find out how much of a company's net income was allocated to each share of common…
Q: At December 31, 2019 and 2020, New Corporation had outstanding 2,000 shares of P 100 par 6%…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: At December 31, 2019 and 2020, New Corporation had outstanding 2,000 shares of P 100 par 6%…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Viel Corporation’s outstanding shares at December 15, 2020, consisted of the following: • 200,000…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: On December 31, 2021, EOS Co.'s shareholders' equity consisted of the following: 8%, cumulative…
A: Book value of preference share Where any interest or dividend is remained to be distributed for any…
Q: 3. Mack Company reported the following outstanding share capital on December 31, 2020: -…
A: The dividend per share is calculated as total dividend divided by number of shares.
Step by step
Solved in 2 steps
- Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter cash dividend was declared on December 21, 2019, to shareholders of record on December 31, 2019. Payment of the 4th-quarter cash dividend was made on January 18, 2020. In addition, Garrett declared a 5% stock dividend on its 10 par value common stock on December 3, 2019, when there were 300,000 shares issued and outstanding and the market value of the common stock was 20 per share. The shares were issued on December 24, 2019. What was the effect on Garretts shareholders equity accounts as a result of the preceding transactions?Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented below. Make a list of the numbers 1 through 12 and match the letter of the most directly related definition or example with each number Definitions and Examples Capitalizes retained earnings. Shares issued minus treasury shares. Emerson Electric will pay a dividend to all persons holding shares of its common stock on December 15, 2019, even if they just bought the shares and sell them a few days later. The accumulated earnings over the entire life of the corporation that have not been paid out in dividends. Common Stock account balance divided by the number of shares issued. The state of Louisiana set an upper limit of 1,000,000 on the number of shares that Gumps Catch Inc. can issue. Shares that never earn dividends. Any changes to stockholders equity from transactions with no owners. A right to purchase stock at a specified future time and specified price. j. A stock issue that requires no journal entry. k. Shares that may earn guaranteed dividends. 1. On October 15, 2019, General Electric announced its intention to pay a dividend on common stock.
- On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Haley engaged in the following transactions involving its equity accounts: Sold 5,000 shares of common stock for $19 per share. Sold 1.200 shares of 12%, $50 par preferred stock at $75 per share. Declared and paid cash dividends of $22,000. Repurchased 1,000 shares of treasury stock (common) for $24 per share. Sold 300 of the treasury shares for $26 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $123,700. Prepare a statement of stockholders equity at December 31, 2020.Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Stanley Utilities engaged in the following transactions involving its equity accounts: Sold 3,300 shares of common stock for $15 per share. Sold 1,000 shares of 12%, $100 par preferred stock at $105 per share. Declared and paid cash dividends of $8,000. Repurchased 1,000 shares of treasury stock (common) for $38 per share. Sold 400 of the treasury shares for $42 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $87,000. Prepare a statement of stockholders equity at December 31, 2020.
- The controller of Red Lake Corporation has requested assistance in determining income, basic earnings per share, and diluted earnings per share for presentation on the companys income statement for the year ended September 30, 2020. As currently calculated, Red Lakes net income is 540,000 for fiscal year 2019-2020. Your working papers disclose the following opening balances and transactions in the companys capital stock accounts during the year: 1. Common stock (at October 1, 2019, stated value 10, authorized 300,000 shares; effective December 1, 2019, stated value 5, authorized 600,000 shares): Balance, October 1, 2019issued and outstanding 60,000 shares December 1, 201960,000 shares issued in a 2-for-l stock split December 1, 2019280,000 shares (stated value 5) issued at 39 per share 2. Treasury stockcommon: March 3, 2020purchased 40,000 shares at 38 per share April 1, 2020sold 40,000 shares at 40 per share 3. Noncompensatory stock purchase warrants, Series A (initially, each warrant was exchangeable with 60 for 1 common share; effective December 1, 2019, each warrant became exchangeable for 2 common shares at 30 per share): October 1, 201925,000 warrants issued at 6 each 4. Noncompensatory stock purchase warrants, Series B (each warrant is exchangeable with 40 for 1 common share): April 1, 202020,000 warrants authorized and issued at 10 each 5. First mortgage bonds, 5%, due 2029 (nonconvertible; priced to yield 5% when issued): Balance October 1, 2019authorized, issued, and outstandingthe face value of 1,400,000 6. Convertible debentures, 7%, due 2036 (initially, each 1,000 bond was convertible at any time until maturity into 20 common shares; effective December 1, 2019, the conversion rate became 40 shares for each bond): October 1, 2019authorized and issued at their face value (no premium or discount) of 2,400,000 The following table shows the average market prices for the companys securities during 2019-2020: Adjusted for stock split Required: Prepare a schedule computing: 1. the basic earnings per share 2. the diluted earnings per share that should be presented on Red Lakes income statement for the year ended September 30, 2020 A supporting schedule computing the numbers of shares to be used in these computations should also be prepared. Assume an income tax rate of 30%.The shareholders' equity of Blue Corporation includes OMR 500,000 of OMR 1 par common stock and OMR 100,000 of 6% cumulative preferred stock. The board of directors of Blue declared cash dividends of OMR4,000, OMR3000, and OMR24,000 as cash dividends in each of 2017, 2018 and 2019 respectively. What is the amount of dividends that common stockholders will receive in 2019? Select one: a. OMR 11,000 b. OMR 7,000 c. OMR 6,000 d. OMR 13,000the shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital and P2,000,000 of 10% P50 par cumulative preference share capital. The board of directors declared cash dividends of P700,000 in 2020 after paying P150,000 cash dividends in 2019 and P300,000 in 2018.r Cash dividends received by ordinary shareholders in 2020
- The shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital and P2,000,000 of 10% P50 par cumulative preference share capital. The board of directors declared cash dividends of P700,000 in 2020 after paying P150,000 cash dividends in 2019 and P300,000 in 2018. Compute the Cash dividends received by preference shareholders in 2020The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The correct entry to be recorded on August 15, 2020, will include a O debit to Cash Dividends. O debit to Dividends Payable. O credit to Cash Dividends. O credit to Dividends Payable.The JHONG Corporation had the following balances in its Shareholders’ Equity accounts as of December 31, 2019: Ordinary Share Capital, P10, par, 20,000 shares issued P200,000; Additional Paid In Capital P80,000; Retained Earnings P100,000; Treasury Shares at cost (2,000 shares) P24,000. The following shareholders’ equity transactions took place in 2020 and 2021: 1. Dividends declared in 2020 were P22,000 and in 2021 were P 35,000. 2. Sold 1,000 Treasury shares at P15 per share in 2020 and 600 shares at P28 per share in 2021. 3. Issued an additional 1,500 new shares at P18 per share in 2021. 4. Net profit for 2020 was P80,000 and for 2021was P98,000. How much is the balance of the Treasury Shares account as of December 31, 2021?