The shareholder equity section of Ronda Corporation's statement of financial positionas of December 31, 2013 is as follows:Shareholders' EquityShare Capital, P5 par value, 2,000,000 shares authorized, 400,000shares issuedShare PremiumRetained Earnings3,000,000The following events occurred during 2014:Jan 5Jan 16Feb 10Mar 1Apr 1Jul 1Aug 1PP2,000,000850,000Dec 31 Profit for 2014 was P1,880,000.5,850,00010,000 shares were sold for P9 per share.Declared a cash dividend of P0.40 per share, payable Feb. 15 to shareholderof record on Feb 5.40,000 shares were sold for P11 per share.A 40% share dividend was declared and issued. Market value per share iscurrently P15.A two-for-one split was carried out. Market value on March 31 was p18 pershare.A 10% share dividend was declared and issued. Market value is currently P10per share.A cash dividend of P0.40 per share was declared, payable Sep 1 toshareholder of record on Aug 21.Determine the following:1. Number of shares issued andoutstanding (Dec. 31, 2022).2. Amount of ordinary shares (Dec. 31,2022).

Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Answered: The shareholder equity section of Ronda…

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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The following data are extracted from the shareholders' equity section of 5 points the statement of financial position of Del Corporation: Ordinary shares, P2 par value - Balance as of December 31, 2010; P1,000,000. Ordinary shares, P2 par value - Balance as of December 31, 2011; P1,020,000. Share premium - Balance as of December 31, 2010: P500.000. Share premium Balance as of December 31, 2011; P580,000. Retained earnings - Balance as of December 31, 2010; P1,000,000. Retained earnings - Balance as of December 31, 2011; P1,046,000. During 2011, the corporation declared and paid cash dividends of P150,000 and also declared and issued a share dividend. There were no other changes in shares issued and outstanding during 2011. What is the net income for 2011.
The capital accounts of Kay, Inc. on December 31, 2015 were as follows: Preference Share Capital, P20 par, 20,000 shares P400,000Share Premium – Preference 160,000 Ordinary Share Capital, P80 par, 50,000 shares 4,000,000Share Premium – Ordinary 600,000Retained Earnings 360,000 During the year ending December 31, 2016, the following summarizes the transactions affecting the shareholders’ equity:April 30- 1,000 preference shares were retired at P25 per share.June 15- 2,000 treasury shares were purchased at P85 per share.June 30- A 2-for-1 share split of the company’s ordinary share was declared.July 31- 800 treasury shares were reissued at P50 per share.Dec. 31- Profit for 2015 was P900,000. a. What was the total shareholders’ equity on December 31, 2016?A. P6,294,000B. P6,270,000C. P6,265,000D. P5,520,000…
: JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015, statement of financial position: Preference shares, P10 par (100,000 shares authorized, 40,000 shares issued) P400,000 Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) 100,000 Share premium – Ordinary shares 192,000Accumulated profits 1,200,000 The following transactions occurred during 2016: At the beginning of 2016, the company paid the annual 2015 P1 per share dividend…
PROBLEM 2: JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015, statement of financial position: Preference shares, P10 par (100,000 shares authorized, 40,000 shares issued) Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) Share premium - Ordinary shares Accumulated profits P400,000 100,000 192,000 1,200,000 The following transactions occurred during 2016: a. At the beginning of 2016, the company paid the annual 2015 P1 per share dividend on preference shares and PO.50 per share dividend on ordinary shares. These dividends had been declared on December 1, 2015.Further investigations revealed that no entry has been made to account for the declaration of the said dividends. b. On February 13, the company purchased 4,000 shares of its own outstanding ordinary shares for P80,000. c. On March 30, the company declared and issued ordinary shares split-up (1 is to 2). d. On June 19, the company reissued 2,800 treasury…
8. The capital accounts of Kay, Inc. on December 31, 2011 are listed below. What was the total shareholders' equity on December 31, 2012? Preference Share Capital, P20 par, 20,000 shares P400,000 4,000,000 Ordinary Share Capital, P80, 50,000 shares Share Premium - Preference 160,000 Share Premium-Ordinary 600,000 Retained Earnings 360,000 During the year ending December 31, 2012, the following summarizes the transactions affecting the shareholders' equity: April 30 1,000 preference shares were retired at P25 per share. June 15 2,000 treasury shares were purchased at P85 per share. June 30 A 2-for-1 share split of the company's ordinary share was declared. July 31 800 treasury shares were reissued at P50 per share. Dec. 31 Profit for 2012 was P900,000. a. P6,294,000 b. P6,270,000 c. P6,265,000 d. P5,520,000 O
JBL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015,statement of financial position:Preference shares, P10 par (100,000 shares authorized,40,000 shares issued) P400,000Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) 100,000Share premium – Ordinary shares 192,000Accumulated profits 1,200,000The following transactions occurred during 2016:a. At the beginning of 2016, the company paid the annual 2015 P1 per share dividendon preference shares and PO.50 per share dividend on ordinary shares. These dividends had been declared onDecember 1, 2015.Further investigations revealed that no entry has been made to account for the declaration of thesaid dividends.b. On February 13, the company purchased 4,000 shares of its own outstanding ordinary shares for P80,000.c. On March 30, the company declared and issued ordinary shares split-up (1 is to 2).d. On June 19, the company reissued 2,800 treasury shares for an equipment…
PROBLEM 2: JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015,statement of financial position:Preference shares, P10 par (100,000 shares authorized,40,000 shares issued) P400,000Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) 100,000Share premium – Ordinary shares 192,000Accumulated profits 1,200,000The following transactions occurred during 2016:a. At the beginning of 2016, the company paid the annual 2015 P1 per share dividendon preference shares and PO.50 per share dividend on ordinary shares. These dividends had been declared onDecember 1, 2015.Further investigations revealed that no entry has been made to account for the declaration of thesaid dividends.b. On February 13, the company purchased 4,000 shares of its own outstanding ordinary shares for P80,000.c. On March 30, the company declared and issued ordinary shares split-up (1 is to 2).d. On June 19, the company reissued 2,800 treasury shares for an…
Assume the following is the stockholders' equity section from the Abercrombie & Fitch balance sheet. Assume the following is the 2016 stockholders' equity section from the Cisco Systems, Inc., balance sheet. Shareholders’ Equity ($ thousands) January 30, 2016 January 31, 2015 Class A common stock-$0.01 par value: 150,000,000 shares authorized and 103,300,000 shares issued at January 30, 2016 and January 31, 2015, respectively/td> $1,033 $1,033 Paid-in capital 161,678 140,251 Retained Earnings 1,357,791 1,076,023 Accumulated other comprehensive income (796) - Deferred compensation 26,206 15,048 Treasury stock at average cost: 15,573,789 and 17,262,943 shares at January 30, 2016 and January 31, 2015, respectively (550,795) (563,029) Total shareholders’ equity $995,117 $669,326 For the $22,394 million reported as “common stock and additional paid-in capital,” what portion is common stock? How many shares are outstanding at its 2016 fiscal year-end?
ILLUSTRATION 13. Following is the Balance Sheet of Trymore Engineering Company Ltd. as at 31st March, 2016 : I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : 3,000 Equity Shares of 100 each fully paid 2,000 6% Cumulative Preference Shares of 100 each fully paid (b) Reserves and Surplus: Surplus A/c (Negative Balance) Non-current Liabilities 10% Debentures 3,00,000 2,00,000 (-) 3,00,000 (2) 2,50,000 (3) Current Liabilities Sundry Creditors (Unsecured) Interest due on Debentures 3,50,000 50,000 Total Equity and Liabilities 8,50,000 II. Assets (1) Non-current Assets (a) Fixed Assets : Plant & Machinery 2,00,000 Sundry Fixed Assets Intangible Assets : Goodwill 30,000 80,000 40,000 2,00,000 Patents (b) Investments (Market Value 1,50,000) (2) Current Assets Stock Sundry Debtors : More than 6 months 1,00,000 25,000 Others Cash & Bank Balances 1,25,000 50,000 Total Assets 8,50,000 Note : Preference Dividends are in arrears for 5 years. The Company feels that the worst is…
On January 1, 2014, Salalima Company had Common Stock of 800,000 authorizedshares with P20 par value. The Stockholders' Equity accounts on January 1, 2014 had the following balances:Common Stock - P2,000,000Additional Paid-in Capital - P600,000Retained Earnings - P1,200,000Transactions during the year and other information relating to shareholders' equityaccounts were:1. On January 5, Salalima issued at P54 per share, 100,000 preferred stock with P50 par value and 9% cumulative. Salalima had 400,000 authorized preferred shares.2. On February 1, Salalima reacquired 10,000 common shares at P32 per share.3. On April 30, Salalima sold 25,000 common stock at P34 per share.4. On June 18, Salalima declared a cash dividend of P2 per common stock, payableon July 12, to shareholders of record on July 1.5. On November 19, Salalima sold 5,000 shares of treasury for P42 per share.6. On December 15, Salalima declared declared a yearly cash dividend on preferred stock, payable on January 14, 2015 on…
18. The capital account of Gene, Inc. on December 31, 2014 were as follows: Preference share capital, 20,000 share, P20 par 400,000 Share premium – preference 160,000 Ordinary share capital, 50,000 shares, P80 par 4,000,000 Share premium – ordinary 600,000 Retained earnings 360,000 During the year ending December 31, 2015, the following summarizes the transactions affecting the shareholders’ equity. April 30 1,000 preference shares were retired at P25 per share. June 15 2,000 treasury shares, ordinary, were purchased at P85 per share. June 30 A two-for-one ordinary share split was declared. July 31 800 treasury shares were reissued P50 per share. December 31 Profit for 2015 was P300,000. What was the total share premium on December 31, 2015? Group of answer choices A. 766,000 B. 761,000 C. 760,000 D. 755,000
Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.

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