the equity account for kalimantan corp showed the
following balances on dec31 2016
preferred shares 2$...
the equity account for kalimantan corp showed the
following balances on dec31 2016
preferred shares 2$ non cumulative unlimited share
authorized 0$
common share unlimited shares authorized 100000 shares issued and
outstanding 640,000
retained earnings 864000
the company completed these transactions during 2017
jan 10 issued 20000 common shares at 9.60 cash per share
jan 15 the directors declared a 10% share dividend to jan 30
shareholders of record ,distributable on feb 15.
Preferred shares,a authorized 100,000 shares; issued 33,000
shares $ 1,155,000
Common shares (unlimited authorized, 51,000 issued)...
Preferred shares,a authorized 100,000 shares; issued 33,000
shares $ 1,155,000
Common shares (unlimited authorized, 51,000 issued)
1,275,000
Contributed surplus 107,000
Total paid-in capital 2,537,000
Retained earnings 2,962,600
Total shareholders’ equity $ 5,499,600
a The preferred shares have a $2 dividend rate, are cumulative,
and participate in distributions in excess of a $3 dividend on the
common shares. Q. No dividends were paid in 2018 or 2019. On
December 31, 2020, Ayayai wants to pay a cash dividend of $5 per...
Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred...
Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred stocked and 100,000 shares
of $1 par value common stock. See the following transactions that
occurred during the year:
Jan 18: Issued for cash 30,000 shares of common stock at $10 per
share.
Feb 14: Issued 4,000 shares of preferred stock for $400,000.
Sept 20: Declared dividends on preferred stock of $5 per share.
Dec 18: Paid cash dividend declared...
smith corporation had the following accounts at January
1,2021:
Common shares, unlimited number of shares authorized,...
smith corporation had the following accounts at January
1,2021:
Common shares, unlimited number of shares authorized, 7,000
shares were
issued
$197,000
Preferred shares $9.50 cumulative, unlimited number of shares
authorized; 2000 shares issued $63,500
Retained
earnings $263,000
During the year, the company paid the preferred dividend and
paid a $1.50 dividend to the common shareholders. The company had a
profit of $333,000
Instructions:
Prepare the shareholders equity section of the balance
sheet at December 31,2021.
Orange Office Supply Corporation completed the following stock
issuance transactions: January 2, 2018 Issued 5,000 shares...
Orange Office Supply Corporation completed the following stock
issuance transactions: January 2, 2018 Issued 5,000 shares of $4
stated value common stock for cash of $20 per share January 31,
2018 Received merchandise inventory with a market value of $46,000
in exchange for 2,000 shares of the $4 stated value common stock
when the market price was $22. March 1, 2018 Issued 450 shares of
5%, $20 par value, cumulative, preferred stock for $50 per share
July 1, 2019 Board...
The shareholders equity section of Yessir corporation at
December 31, 2020 included the following:
$6 preferred...
The shareholders equity section of Yessir corporation at
December 31, 2020 included the following:
$6 preferred shares cumulative, 10,000 shares authorized 8,000
shares
issued
$800,000
Common shares, 250,000 shares authorized, 200,000 shares issued
$2,000,000
Dividends were not declared on the preferred shares in
2020 and are in arrears.
On September 15, 2021, the board of directors of yessir
corporation declared on the preferred shares for 2020 and 2021, to
shareholders of record on October 1, 2021, payable on October
15,2021...
Heuristic Solutions is authorized to issue an unlimited number of
common shares and 50,000 preferred shares....
Heuristic Solutions is authorized to issue an unlimited number of
common shares and 50,000 preferred shares. During its first year
(2019), the business completed the following share issuance
transactions:
July 19: Issued 50,000 common shares for cash of $5 per
share.
Oct 3: Issued 500, $1.50 preferred shares for $50,000 cash.
Oct 11: Received inventory valued at $20,000 and equipment with
fair value of $10,000 for 5000 common shares.
Journalize the transactions.
Prepare the shareholders’ equity section of Heuristic Solution’s...
Aquamanu Developments is authorized to issue 500,000 shares. To
date, the company has 191,500 shares issued...
Aquamanu Developments is authorized to issue 500,000 shares. To
date, the company has 191,500 shares issued and 154,400
outstanding. Aquamanu is considering declaring a dividend to its
common shareholders. Management is recommending the board of
directors to consider the following options at the next meeting
scheduled for March 1:
1.
The boards of directors should approve a motion directing the
company to pay a dividend of $0.30 per share on May 1 to
shareholders of record on April 15 or...
At a company’s December 15 meeting, the board of directors
declared a total of
$80,000 dividends...
At a company’s December 15 meeting, the board of directors
declared a total of
$80,000 dividends payable to the common and preferred
shareholders. The dividend is
payable on January 15 to shareholders of record on December 31.
No journal entry has
been made to record this dividend. It is the company’s practice
to keep dividends
payable to common and preferred shareholders in separate
accounts.
There are 17,500 common shares with a balance of $349,197 at
December 31, 20x5.
There are...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at
par.
2. Issued 640 shares of $80 par value preferred stock in
exchange for land that had an appraised value of $81,600.
3. Issued 19,000 shares of $4 par value common stock for $10 per
share.
4. Purchased 4,750 shares of common stock for the treasury at
$10 per share.
5. Sold 1,900 shares of the treasury stock purchased in
transaction d for $12...