Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .

Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Presented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par 4 300,000 Share premium- -Ordinary 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings 1,500,000 Treasury Shares Ordinary (at cost) 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d.8,750,000. 2.Randall pic is a company that, during the year ended 31 December 2020, paid $25,000 debenture interest and paid an ordinary dividend of 8 pence per share on 1 million £1 ordinary shares. The retained profit for the year was $160,000. What was Randall pc's profit for the year? Select one: a.$215,000 b.$80,000 c.$240,000 d.$265,000
Item Nos. 14 and 15 are based on the following information: revealed the following information: Preference Share Capital, par P 100 Preference Share Premium- Ordinary Share Capital- Ordinary Share Premium-- Subscribed Ordinary Shares Retained Earnings Ordinary Subscriptions Receivable 000.00S The shareholders' equity section of Charlie Company's balance sheet P 2,300,000 805,000 5,250,000 2,750,000 50,000 -- 1,900,000 400,000 - _____
BFAR Corp. has the following information in its shareholders' equity: . Preference Share Capital, P100 par value: P2,000,000 . Share Premium - Preference: P100,000 • Share Dividend Distributable - Preference: P350,000 Ordinary Share Capital, P10 par: P50,000 Share Premium - Ordinary: P40,000 . Subscribed Share Capital - Ordinary: P150,000 • Subscriptions Receivable - Ordinary: $23,000 . Accumulated Profits: P300,000 How much is the legal capital? . .
Listed below are information taken from the records of GBC Corporation: 8% Preference share capital, cumulative, authorized 100,000 shares with a P100 par value P 2,000,000 Ordinary share capital, authorized 200,000 shares with a P20 par value 1,000,000 Share capital subscribed – preference 500,000 Share capital subscribed – ordinary 400,000 Subscriptions receivable – preference 250,000 Subscriptions receivable – ordinary 200,000 Treasury shares – preference (cost of P 120 per share) 120,000 Treasury shares – ordinary (cost of P30 per share) 60,000 Required: Compute the number of preference shares and ordinary shares entitled to receive dividends.
The following capital accounts are shown in the statement of financial position of George Corporation: Ordinary shares, 10,000 shares, par value P100 Premium on ordinary shares Share premium – treasury shares Accumulated profits and losses Treasury shares, 2,000 shares at cost P1,000,000 20,000 30,000 750,000 250,000 The entire 2,000 treasury shares were sold for P200,000. What would be the balance of the accumulated profits and losses account after this sale?
Compute the Values of an equity share and of preference share of each of the following companies: (a) When a few shares are sold and (b) When controlling shares are to be sold. Following information is furnished: Company A Company B $ Profit after tax 10,00,000 10,00,000 12% Preference Capital (Shares of $ 100 each) 10,00,000 20,00,000 Equity Capital ( Shares of $ 10 each ) 50,00,000 40,00,000 Assume that market expectation is 15% and 80% of profits are distributed.
BFAR Corporation has the following information in its shareholders' equity: Ordinary Share Capital of P1,600,000 - P200 par value Share Premium, P400,000 Accumulated Profits of P900,000. ● A share dividend of 6% was declared when the share is selling at P500 per share. Compute the balance of Accumulated Profits after dividend declaration.
12. Charice Company revealed the following shareholder's equity at year end: Preference share capital, P100 par 2,300,000 Share premium - PS 805,000 Ordinary share capital, P15 par 5,250,000 Share premium 2,750,000 Subscribed ordinary share capital 500,000 Retained earnings 1,900,000 Note payable 4,000,000 Subscription receivable - ordinary 400,000 How much is the legal capital? a. 8,050,000 b. 7,650,000 c. 9,950,000 d. 11,605,000
BFAR Corp. has the following information in its shareholders' equity: Ordinary Share Capital, P100 par value: P1,000,000 . Subscribed Share Capital - Ordinary: P200,000 . Subscriptions Receivable - Ordinary: $67,000 • Share Premium - Ordinary: $37,000 Treasury Shares - Ordinary: P10,000 . Accumulated Profits: P150,000 How much is the contributed capital? ● ●
Following is the Balance Sheet of Redeemable Limited: 24 I. Equity and Liabilities (1) Shareholders' Funds (a) Paid-up Share Capital : 10% 1,000 Redeemable Preference Shares of $ 100 each fully called up Less : Calls in Arrears on 50 Shares @ $ 20 each 1,00,000 1,000 99,000 5,00,000 50,000 Equity Shares of $10 each (b) Reserves and Surplus : Development Rebate Reserve General Reserve 50,000 1,00,000 1,50,000 1,51,000 (2) Other Liabilities Total Equity and Liabilities 9,00,000 II. Assets Other Assets 8,10,000 90,000 Bank Total Assets 9,00,000 The Redeemaule Preference Shares were redeemed on the following basis : (1) Further 4,500 equity shares were issued at a premium of 10 per cent; (2) of the 50 Preference Shares, holders for 40 shares paid the call before the date of redemption. The balance 10 shares were forfeited for non-payment of calls before redemption. The forfeited shares were reissued as fully paid on receipt of $500 before redemption; (3) Preference shares were redeemed at…
31. The following capital accounts are shown in the statement of financial position of George Corporation: Ordinary shares, 10,000 shares, par value P100 Premium on ordinary shares Share premium - treasury shares Accumulated profits and losses Treasury shares, 2,000 shares at cost P1,000,000 20,000 30,000 750,000 250,000 The entire 2.000 treasury shares were sold for P200,000. What would be the balance of the accumulated profits and losses account after this sale?
The Shareholders' Equity section of BFAR Corp. statement of financial position shows the following: Preference Share Capital, P100 par Ordinary Share Capital, P10 par Treasury Shares - ordinary, P12 cost/share Share Premium - Ordinary Share Premium - Preference Subscribed Ordinary Share Capital Subscription Receivable (2 years collectability) Share Premium on Subscribed Ordinary shares Share Premium on Treasury shares Accumulated Profits - Unappropriated (unadjusted) - beg 2,800,000 6,000,000 960,000 1,640,000 1,020,000 750,000 600,000 625,000 610,000 7,040,000 Dividends declared during the year is P500,000. Profit for the year is P800,000. Compute the Total Shareholders' Equity.