Walking Bear Resources Inc.Equity Section of the Balance SheetMarch 31, 2023Contributed capital:Preferred shares, $17 cumulative, 3,500 sharesauthorized, issued, and outstandingCommon shares, unlimited shares authorized,se,000 shares issued and outstandingTotal contributed capitalRetained earningsTotal equity1,190,0001,200,0002,390,000472,0002,062,000Required:a. Refer to the equity section above. Assume that the preferred are convertible into common at a rate of eight common shares for eachshare of preferred. if 1000 shares of the preferred are converted into common on April 1, 2023, prepare the journal entry

The conversion allows preferred shareholders to exchange their preferred shares for a predetermined…

Walking Bear Resources Inc. Equity Section of the Balance Sheet March 31, 2023 Contributed capital: Preferred shares, $17 cumulative, 3,500 shares authorized, issued, and outstanding Common shares, unlimited shares authorized, 50,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 1,200,000 2,390,000 2,062,000 Required: a. Refer to the equity section above. Assume that the preferred are convertible into common at a rate of eight common shares for each share of preferred if 1000 shares of the preferred are converted into common on April 1, 2023, prepare the journal entry

Walking Bear Resources Inc. Equity Section of the Balance Sheet March 31, 2023 Contributed capital: Preferred shares, $17 cumulative, 3,500 shares authorized, issued, and outstanding Common shares, unlimited shares authorized, 50,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 1,200,000 2,390,000 2,062,000 Required: a. Refer to the equity section above. Assume that the preferred are convertible into common at a rate of eight common shares for each share of preferred if 1000 shares of the preferred are converted into common on April 1, 2023, prepare the journal entry

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...

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The equity section of the December 31", 2025, balance sheet for BOOYA Inc. showed the following: BOOYA Inc. Equity Section of the Balance Sheet December 31, 2025 Contributed Capital: Preferred shares, $0.25 non-cumulative, 80,000 shares authorized, 60,000 shares issued and outstanding Common shares, 250,000 shares authorized, 120,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $150,000 120.000 $270,000 92.500 $362,500 During the year 2026, BOOYA Inc had the following transactions affecting equity accounts: Sold 20,000 common shares for a total of $21,500 cash Sold 5,000 preferred shares for $3.00 each, cash. Issued and exchanged 7,000 common shares for equipment with a list price of $10,000 (fair value unknown). Common shares were trading at $1.42 on June 15th. Jan. 3 Mar. 1 June 15. Closed the Income Summary account, which showed a credit balance of $175,000. Dec. 31 The board of directors had not declared a dividend for the past two years…
Contributed capital: Western Grass, Inc. Equity Section of Balance Sheet December 31, 2823 Preferred shares, $3 cumulative, 10,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 65,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 75,000 552,500 627 500 581 000 $1,208,500 Required: Using the Information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares
The December 31, 2023, equity section of ZoomZoom inc's balance sheet appears below ZooZoon Inc. Equity Section of the Balance Sheet December 31, 2023 Contributed capital: Preferred shares, $3.75 cumulative, 33,000 shares authorized and issued Preferred shares, $10 non-cumulative, 8,700 shares authorized and issued Common shares, 330,000 shares authorized and issued Total contributed capital Retained earnings Total equity Required: All the shares were issued on January 1, 2021 (when the corporation began operations) No dividends had been declared during the first two years of operations (2021 and 2022) During 2023, the cash dividends declared and paid totalled $578,300. 1. Calculate the amount of cash dividends paid during 2023 to each of the three classes of shares Show Transcribed Text Cumulative preferred shares Noncumulative preferred shares Common shares Required: All the shares were issued on January 1, 2021 (when the corporation began operations). No dividends had been de first…
Contributed capital: Preferred shares, $4 cumulative, 15,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 60,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity a. b. Book Value of Common Shares 144,000 300,000 $ 444,000 584,000 $1,028,000 $ Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 deci a. There are no dividends in arrears. b. There are three years, of dividends in arrears. 27
Contributed capital: Preferred shares, $3 cumulative, 20,000 shares authorized, issued and outstanding $ Common shares, 100,000 shares authorized; 70,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. a. b. Book Value of Common Shares 174,000 560,000 $ 734,000 535,000 $1,269,000
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The equity section of Whispering Inc. at January 1, 2022, was as follows. Share capital-ordinary $390,000 Accumulated other comprehensive income Unrealized holding gain on equity securities designated at fair value through other comprehensive income 65,000 Retained earnings 26,000 During the year, the company had the following transactions. 1. Issued 13,000 shares at $3 per share. 2. Dividends of $12.200 were declared and paid. 3. Net income for the year was $130,000. Unrealized holding loss of $6,500 occurred on its equity securities designated at fair value through other comprehensive 4. income. Prepare a statement of changes in equity for Whispering Inc. WHISPERING INC.
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: LO 15.8 Account Title Amount Additional Paid-in Capital on Preferred Stock Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Retained Earnings Additional Paid-in Capital on Common Stock Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance…
The equity section of CFAS Company revealed the following information on December 31, 2022: Preference share capital, P100 par P5,000,000 Share premium-preference shares 2,000,000 Ordinary share capital, P50 3,200,000 Share premium-ordinary shares 421,076 Subscribed ordinary share capital 800,000 Retained earnings-appropriated Subscription receivable-ordinary shares 250,000 400,000 Retained earnings- unappropriated 3,500,000 Treasury shares-ordinary 1,000,000 How much is the contributed capital of CFAS Company as of December 31, 2022?
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Es Tri Company provided the following information from a comparative statement of financial position: Es Tri Company provided the following information from a compara December 31, 2024 December 31, 2023 Share capital, P5 par 7,500,000 4,500,000 Share premium 52,000,000 40,000,000 Retained earnings 19,500,000 15,500,000 Treasury shares, at cost, 600,000 shares on December 31, 2024 and 400,000 shares on December 31, 2023. 7,000,000 5,000,000 What is the number of outstanding shares on December 31, 2024?
Question 1 The following information relates to a company listed on Luse- Mungwi PLC ZMK Issued share capital (1000 shares) Share premium. Reserves. Share holders funds. 6% Irredeemable Debentures. 9% Redeemable Debentures. Bank loan. Total Long Term Liabilities. Million 4 000 2 600 290 6,890 2,800 2,900 1 000 6 700 The current cum interest market value per k100 units is k103 and k105 fir the 6% and 9% Debentures respectively. The 9% Debenture is redeemable at par in 10 years time. The bank loan bears interest rate of 2% above the base rate (current base rate is 15%). The current ex-div market price of shares is k1, 100 and a dividend of K100 per share which is expected to grow at a rate of 5% per year has just been paid. The effective corporation tax rate for Mungwi is 30%. Required: A) Calculate the effective after tax weighted Average Cost of Capital (WACC) fir Mungwi PLC