on dec 312023 monaco ltd had outstanding 2000 no par value $6 cumulative preferrrred shares and 30000 no par value common shares. At this time, dividends in arrears on the preferred were $6000. Cas dividend declared in 2024 totalled $30000 Determine the amounts paid to each class of shares
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- Kelbrooklimited provided the following information.1.The issue share capital consists of 180000 ordinary shares of $0.50 each2. On 1 jan 2019: general reserve is $ 4,000. Retained earnings is $ 5,5003. The profit for the year ended 31 December 2019 was $ 9,000. $ 2000 of this was transferred to the general reserve .4. An interim dividend of $4,500 was paid during the year. No dividends were proposed at the end of the Required Prepare Statement of changes and Equity AccountOn December 2, 2022, Andrew Corporation issued for cash 12,000 shares of no-par ordinary shares with a stated value of P13 per share at P17. On December 17, it issued for cash 800 shares of P110 par, preference shares at P112. What amount will be credited as preference share capital? OA. P88,000 OB. P89,600 O C. P1,600 OD. None of the aboveOn December 2, 2022, Andrew Corporation issued for cash 12,000 shares of no-par ordinary shares with a stated value of P13 per share at P17. On December 17, it issued for cash 800 shades of P110 par, preference shares at P112. What amount will be credited as share premium- ordinary? O A P48,000 O B. P156,000 C. P204,000 D. None of the above
- At December 31, 2025 and 2024, Oriole Corp, had 171000 shares of common stock and 12000 shares of 7%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2025 or 2024, Net income for 2025 was $441390. For 2025, earnings per common share is $1.61 O $2.09. O $1.80. O $2.57.At January 1, 2023, Carla Vista Limited's outstanding shares included the following: 294,000 900,000 $50 par value, 8%, cumulative preferred shares common shares Net income for 2023 was $2,107,700. No cash dividends were declared or paid during 2023. On February 15, 2024, however, all preferred dividends in arrears were paid, together with a 10% stock dividend on common shares. There were no dividends in arrears before 2023. On April 1, 2023, 530,000 common shares were sold for $12 per share, and on October 1, 2023, 350.000 common shares were purchased for $24 per share. The financial statements for 2023 were issued in March 2024. (a) Your answer is incorrect. Calculate the weighted average number of common shares outstanding for the year ended December 31, 2023. Weighted average number of shares outstanding I10. Denden Company was organized on January 1, 2020 at which date it issued 300,000 ordinary shares of P6 par value at P13 per share. The following ire the additional equity transaction occurred during the year: 1) Profit for the year amounts to P975,000 2) Declared and paid cash dividends amounts to P225,000 On Jaruary 10, 2020, the Company purchased 9,000 treasury shares at P12 per share. On Deceinber 31, 2020, the Company sold 4,500 treasury shares at PB per share and retired the remaining treasury shares. 3) 4) he company uses the cost method of accounting for treasury shares. What is the total shareholder's equity on December 31, 20207 A. P4,596,000 B. P4,578,000 C. P4,524,000 D. P4,632,000
- On January 3, 2025, SY Company has 200,000, P10 par value ordinary shares outstanding having a market price of P15. The shares were originally issued at P14. The total undistributed accumulated net earnings were P4,000,000. On January 4, 2025, SY company declared a 2 for 1 stock split. Compute the balance of Retained earnings after the Stock Split. Compute the balance of Total Contributed Capital after the Stock Split. Assuming that the 2 for 1 stock split was a reverse split (split down), the Total stockholders Equity after the split isOn 5 March 20X7, Marchant Ltd issued 200,000 5% irredeemable GHS 1 preference shares. In accordance with IAS 32 Financial Instruments: Presentation, how will these shares and their related dividend be shown in Marchant Ltd’s financial statements for the year ended 31 March 20X7? Shares Dividend A Non-current liabilities Income statement B Non-current liabilities Statement of changes in equity C Equity Income statement D Equity Statement of changes in equityAlpha company reported the following equity accounts on January 1, 2020. Tpoint hare capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings. P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31. the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?
- Concord Corporation had net income for the current year ending December 31, 2023 of $1,170,600. Throughout 2023 the following items were outstanding: ● ● ● 413,000 common shares 18,500 Class A $3 cumulative preferred shares that were convertible to common shares at a rate of 1:1 49,500 Class B $4 non-cumulative preferred shares that were convertible at a rate of 1 common share for every 2 preferred shares. (a) $551,000, 8% bonds that were convertible to 14,500 common shares $352,000, 10% bonds convertible to 11,000 common shares No dividends were declared or paid in 2023. Concord's tax rate is 25%. X Your answer is incorrect. Calculate the income effect of the dividends for the Class A preferred shares. Dividends on Class A preferred shares $ 0Viel Corporation’s outstanding shares at December 15, 2020, consisted of the following:• 200,000 shares of 5% Preference Shares, P10 par value.• 400,000 Ordinary Shares, P20 par value.On this date, Viel declared cash dividends of P1,200,000. Case 1 Preference Shares are noncumulative and non-participating. Preference dividends for 2018 and 2019 are in arrears. 1. How much is the total dividends to be given to the preference shares? * 2. How much is the total dividends to be given to the ordinary shares? * 3. How much is the dividend per share for preference shares? * 4. How much is the dividend per share for ordinary shares? * 5. If you own 15,000 preference shares and 100,000 ordinary shares, how much is the total cash you will receive from the corporation? * Case 2 Preference Shares are cumulative and non-participating. Preference dividends…BFAR Company has the following transactions: Acquired 8,000 shares of its own outstanding shares at P20 per share on February 5, 2022. Sold 4,000 of these shares at P27 per share on August 9, 2022. . On November 1, 2022, sold 2,000 shares from its treasury for P18. ● The cost method is used to record treasury shares transactions. The par value of the shares is P15. Compute the cost of remaining treasury shares.