ABC Company has the following balances in shareholders' equity on December 31st, 2019. Share Capital-Preference Shares...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
"ABC" Company has the following balances in shareholders' equity on December 31st, 2019. Share Capital-Preference Shares -$125 par $1,500,000 Share Capital-Ordinary Shares -$15 par $975,000 Share Premium-Preference Shares $100,000 Share Premium-Ordinary Shares $600,000 Retained earnings $250,000 Treasury stock (cost-$13 per share) $91,000 Based on the above given information answer the following questions: How many shares of preference shares were issued? How many shares of ordinary shares were issued? 975000 How many shares of treasury stock are owned? 100000 How many shares of ordinary shares are outstanding? 600000 What was the average market price per share at which ordinary share was issued? 250000 What was the average market price per share at which preference share was issued? 91000 What is the total value of shareholders' equity? 3334000 if net income for the year was $75,000 and a preferred stock dividend of $20,000 was paid, what was the beginning value of retained eamings? 195000 "ABC" Company has the following balances in shareholders' equity on December 31st, 2019. Share Capital-Preference Shares -$125 par $1,500,000 Share Capital-Ordinary Shares -$15 par $975,000 Share Premium-Preference Shares $100,000 Share Premium-Ordinary Shares $600,000 Retained earnings $250,000 Treasury stock (cost-$13 per share) $91,000 Based on the above given information answer the following questions: How many shares of preference shares were issued? How many shares of ordinary shares were issued? 975000 How many shares of treasury stock are owned? 100000 How many shares of ordinary shares are outstanding? 600000 What was the average market price per share at which ordinary share was issued? 250000 What was the average market price per share at which preference share was issued? 91000 What is the total value of shareholders' equity? 3334000 if net income for the year was $75,000 and a preferred stock dividend of $20,000 was paid, what was the beginning value of retained eamings? 195000
Expert Answer:
Related Book For
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
Posted Date:
Students also viewed these accounting questions
-
The Torre Company has the following balances in stockholders equity on December 31st. Common Stock - $5.00 par, 60,000 issued $300,000 Additional paid in capital - common 600,000 Preferred stock -...
-
ABC Company has the option to purchase additional equipment that will cost about $42,000, and this new equipment will produce the following savings in factory overhead costs over the next five years:...
-
On January 1, 2015, Newlin co. has the following balances: projected benefit obligation $2,100,000 fair value of plan assets 1,800,000 the settlement rate is 10%. other data related to the pension...
-
To save for her newborn son's college education, Lea Wilson will invest $1,000 at the beginning of each year for the next 18 years. The interest rate is 12 percent. What is the future value? 1)...
-
You randomly select 300 U.S. adults ages 33 to 51 and ask them whether they regularly participate in at least one sport. Of the 200 who say yes, 9% say they participate in hiking. How likely is this...
-
Write an article on "assets misappropriation" and the analysis assets misappropriation in Harbinger Capital Partners LLC.
-
Design a database schema for a smart classroom. Identify the features of the smart classroom and design the schema to support to support those use cases.
-
Vintage Dresses Inc. manufactures dresses in a small manufacturing facility. Manufacturing has 20 employees. Each employee presently provides 35 hours of productive labor per week. Information about...
-
The borrower has a 10% down payment and has applied for a conventional loan. What the lender will MOST likely require the borrower to purchase ?
-
Review the methods used by supply chain managers to mitigate SCIS implementation risks.
-
1. Consider the following python program where the input is 3. def fun (a,b): if a > b: c=a-b else: d d=int (input ()) s=d* 2 d=d+5 4 c=-1 return c x=d g=x+3 r="ACOT" m=d>g p= False while g>= x or p...
-
What impact does music have on our daily lives? What do artists use music/lyrics for in our world? How do different types of music affect us differently? Provide examples
-
Michael Heizer's "City" project in Nevada took the artist over five decades to complete. (It was completed in 2022.) Please first read the article by Michael Kimmelman's article on Michael Heizer...
-
Karen just got promoted to general manager of her restaurant, which is part of a chain. Her restaurant is located in Northern British Columbia. When she applied internally for the job, she was told...
-
What is the direct source of energy for the ATP produced by ATP synthase?
-
If unions are to be successful in obtaining wage rate increases for their members,they must be able to cause a shift in either the labour demand curve or the labour supply curve or both.? Explain how...
-
Which three groups of people most often commit financial statement fraud? Question 4 options: 1) Mid-level management, upper-level employees, and the company accountants. 2) Senior management, mid...
-
Give codons for the following amino acids: (a) Th (b) Asp (c) Thr
-
Distinguish between the quantitative and qualitative aspects of decisions.
-
Distribution Solutions, Inc., (DSI) is a regional distributor providing logistical support for merchandisers over a tristate area. Its distribution centers have been profitable until recently. DSI...
-
A division of Hewlett-Packard Company changed its production operations from one where a large labor force assembled electronic components to an automated production facility dominated by...
-
Scuba divers are warned that if they must make a rapid ascent, they should exhale on the way up. If a diver rapidly ascends to the surface with lungs full of air, his lungs could be damaged. Explain...
-
A higher level of hemoglobin in the blood increases the bloods density. This is the basis for a simple test that can be used to see if a prospective blood donor has a high enough hemoglobin level to...
-
Elephant seals do deep dives to forage for food. The energy used by the seals in diving depends on their body composition; for example, fatter seals use less energy to swim to the surface at the end...
Study smarter with the SolutionInn App