On December 10, Daniel Co. split its stock 5-for-2 when the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, Daniel's outstanding shares would be
Q: TB Problem Qu. 11-166 (Algo) Wehrs Corporation has received a request for a special... Wehrs…
A: SPECIAL ORDER ANALYSIS Untill There is any Information is Provided, There Shall be no additional…
Q: Pronghorn Corporation was incorporated and began business on January 1, 2023. It has been successful…
A: Single Step Comprehensive Income statement: In a declaration of income with a single step, the…
Q: On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of…
A: The allowance for doubtful accounts is prepared to record estimated bad debt expense for the period.…
Q: Revenues are increased with: Multiple Choice O O debits because they decrease stockholders' equity.…
A: Lets understand the basics. Expenses :— As per the accounting term is the money receipt, or revenue…
Q: The following are two independent situations. Situation 1 Flounder Cosmetics acquired 10% of the…
A: Dividend is kind of reward which is provided by the organization to its shareholders for their…
Q: Ponce Company has 50,000 shares of $100 par value, 8% cumulative preferred stock and 160,000 shares…
A: Dividend is the amount of return paid to the shareholders of the entity for investing in the…
Q: On November 1, 2022, the following were the account balance of Soho Equipment Repair. Cash Accounts…
A: Trial Balance :— It is the list that shows debit and credit balance of all ledger accounts. It is…
Q: Sheffield & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers.…
A: COST ALLOCATION When item of cost are Identifiable directly with some products or departments such…
Q: Which of the following factors creates an opportunity for fraud to be committed in an organization?
A: Corporate fraud consists of illegal, deceptive actions committed either by a company or an…
Q: Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job 107 were…
A: T-accounts are an informal term for a group of financial records that use double-entry accounting.…
Q: Rustic Living Furniture Company manufactures furniture at its central Kentucky factory. Some of its…
A: Manufacturing overhead means the amount of overhead incurred by the entity on the making of the…
Q: c. How will the annual note payment be reported in the Year 1 income statement? of $ would be…
A: If there is any contractual liability to pay cash or deliver any other asset to another entity is…
Q: Date Mar. ACCOUNT Work in Process-Baking Department Item 1 Bal., 6,000 units, 3/5 completed 31…
A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…
Q: The following income statement and additional year-end Information is provided. Sales Cost of goods…
A: Cash flows from operating activities is the activity shown in the cash flow statement. It reports…
Q: Hart Company sells and delivers office furniture across Western Canada. The costs associated with…
A: The average cost per kilometre of owning and operating the truck for the first year can be…
Q: A company reported the following details: Cost of Goods Sold = $88,000 Increase in inventory =…
A: Cash flow statement :— It is one of the financial statement that shows change in cash and cash…
Q: Blossom Ltd's Ltd's statement of financial position at December 31, 2024, is presented below. 21 24…
A: Financial statements comprise an income statement (that depicts the financial results of the…
Q: At September 30, the end of Beijing Company's third quarter, the following stockholders' equity…
A: Stockholder's Equity - Stockholder's Equity is a part of the Balance sheet. It contains the issuance…
Q: On October 1, 2021, the Allegheny Corporation purchased equipment for $278,000. The estimated…
A: Depreciation Expense is incurred every year to account cost of use of assets like normal wear and…
Q: M9-9 (Algo) Calculating Direct Materials Cost Variances [LO 9-3] Acoma, Inc., has determined a…
A: DIRECT MATERIALS COST VARIANCE Direct materials cost variance is the difference between the actual…
Q: The ledger of Mai Company includes the following accounts with normal balances as of December 31:…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: 2. 3. On November 1, Rent Revenue was credited for $1,809, representing revenue from a subrental for…
A: Adjusting entries are accounting journal entries made at the end of an accounting period to update…
Q: If the DEG partnership sells Property #1 for $210,000. What would be the book gain (loss) and tax…
A: Gain and loss = Total sale - Total purchase Profit sharing is the ratio at which all partners share…
Q: FIFO During 2024, Noval Company sells 270 units of inventory for $100 each. The company has the…
A: Cost of goods sold is the amount of money incurred on the making of the goods sold. Ending inventory…
Q: Sandhill Trading Company uses a periodic inventory system and has a beginning inventory as of April…
A: Ending inventory means the goods in hand at the end of the period. These are reported by the entity…
Q: Exercise Six - 7 Subject: Work Space In The Home Costs During the current year, Jobul Krist has the…
A: The annual deduction that is claimed on depreciable assets in the Canadian tax system under the…
Q: ABC company has the following information for their sales budget: Budgeted Unit Sales January sales…
A: Sales budget :— This budget shows the budgeted sales revenue to be generated during the period.…
Q: Instructions Chart of Accounts General Journal Income Statement Balance Sheet Instructions Southeast…
A: Unrealized gain or loss are the amount either up or down on the securities purchased but not yet…
Q: Please no written by hand solutions Pension plan assets were $80 million at the beginning of the…
A: Retirement benefits can play an important role in attracting and retaining employees, as well as in…
Q: A calendar year C corporation reports a $41,000 NOL in 2022, but it elects S status for 2023 and…
A: Net Operating losses- when the deductions of a taxable person are more than his income for the year,…
Q: A merchandising company has provided the following contribution format income statement: Sales…
A: MARGINAL COSTING INCOME STATEMENT Marginal Costing Income Statement is One of the Important Cost…
Q: Information about a segment of the business that a company sells, abandons, or otherwise disposes of…
A: Income statement is the one which is prepared by the entity to show the profits of the entity. In…
Q: Question Content Area Treasury stock that had been purchased for $4,369 last month was reissued this…
A: Lets understand the basics. Treasury stock is a stock which was purchased by the entity after…
Q: Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower…
A: Cost price is represented by Cost of Sales. Sales Volume in 2020 = P1,900,800 Sales Volume in 2021…
Q: TRU Inc. desires to maintain a capital structure of 90% equity and 10% debt. They currently have an…
A: Weighted average cost of capital: Weighted Average Cost of Capital (WACC) is a financial metric used…
Q: Briefly summarize 2–3 accounting and reporting procedures the New York City Police Department uses…
A: Any organization that wants to efficiently manage its finances and guarantee financial activity…
Q: quantity variances Using the following product information, calculate the direct materials price…
A: Direct material price variance :— It is the difference between actual material cost at standard…
Q: Assess the following accounting adjustments and identify the type of adjustment required and…
A: Generally the accounting period is of 12 months. When any income is received or expense is incurred…
Q: 1. On July 15, Piper Co. sold $13,000 of merchandise (costing $6,500) for cash. The sales tax rate…
A: Journal Entry is the primary step to record the transaction in the books of accounts. The increase…
Q: Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture…
A: Lets understand the basics. Budget is an estimation of future profit and loss for business. It is…
Q: Calculate the projected inventory turnover, days sales outstanding (DSO), fixed assets turnover, and…
A: Ratio analysis looks at line-item data acquired from a corporation's financial records to get…
Q: Required information [The following information applies to the questions displayed below] Jesse…
A: Taxable income meaning:- The income that is subject to taxation and on which the appropriate tax…
Q: For the most recent fiscal year, Carmichael Hobby Shop recorded EBITDA of $512,725.20, EBIT of…
A: Net income is the amount of money earned by the entity after deducting all the expenses from the…
Q: A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED…
A: Cash flows from operating activities is the activity shown in the cash flow statement. It reports…
Q: Required information [The following information applies to the questions displayed below.] On…
A: Allowance for doubtful accounts - Allowance for doubtful accounts is the provision made by the…
Q: The management of Unter Corporation, an architectural design firm, is considering an investment with…
A: Payback period :— It is the time period in years which is required to recover all the cash outflows…
Q: During the month of October 20--, The Pink Petal flower shop engaged in the following transactions:
A: The general ledger are prepared after passing the journal entries, it is classifies the accounts as…
Q: Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for…
A: Goodwill is an intangible asset which shows the reputation of the entity in the market. It is…
Q: At the beginning of the period, the Cutting Department budgeted direct labor of $136,000, direc…
A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…
Q: c. Double-declining-balance method Amount 14,985 X Year Year 1 Year 2 Year 3 Year 4 A ta A 9,990…
A: Depreciation is defined as the method for assigning the cost of the physical or tangible asset over…
On December 10, Daniel Co. split its stock 5-for-2 when the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, Daniel's outstanding shares would be
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- On September 15, YG Corporation splits up its share 2-for-5 when the market value was USD65 per share. Prior to the split, YG Corporation had 200,000 shares of USD15 par value stock. After the split, what is the par value of the stock and the number of stocks outstanding?Digby owns 240 shares of Quantex with a market value of $5,940. Quantex has just announced a 3 for 2 stock split. Assuming the value of Digby's holdings stays the same until the split is recorded, what would the price of Quantex be on the day of record? $16.50 or $37.13On December 10, Daniel Co. split its stock 3-for-1 when the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, the par value of the stock was Choices; P5.00. P45.00. P15.00. P65.00.
- On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share.Prior to the split, Daniel had 200,000 shares of $15 par value stock. After the split, the par valueof the stock wasOn March 1, Florida Blue instituted a 5-for-2 stock split. Before the split, Florida Blue had 150 million shares with a price of $205 per share.a) How many shares were outstanding after the split?b) What was the post-split price per share?Prior to the split, Zebra Corp. had 200,000 shares of P30 par value share. On December 31, Zebra Corp. split its share to 5 for 2 when the market value was P50 per share. What is the par value of the share after the split?
- On July 1, 2021, Luke Corp. has 200,000 shares of P100 par common stock outstanding and the market price of the stock is P120 per share. On the same date, Luke declared a 1-for-2 reverse stock split. The par of the stock was increased from P100 to P200 and one new P200 par share was issued for each two P100 par shares outstanding. Immediately before the 1-for-2 reverse stock split, Luke' additional paid-in-capital was P7,500,000. What should be the balance in Lucas' additional paid-in capital account immediately after the reverse stock split is effected?On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000. On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total share premium was P1,500,000. what should be the balance in funk company's ordinary share account after the share split is effected?On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000. On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total share premium was P1,500,000. What should be the balance in Funk Company's Ordinary Share account after the share split is effected? A. 25,000,000 B. 10,000,000 C. 20,000,000 D. 2,000,000 If half of treasury shares were reissued at P10 per share, the entry record the reissuance shall involve: A. Debit to Accumulated profits at P425,000. B. Credit to Share Premium at P425,000. C. Debit to Accumulated Profits at P850,000. D. Credit to Share premium at P850,000.
- On July 1, 2021, Soloc Company has 200,000 share of P10 par ordinary share outstanding and the market price of the share is P12 per share. On the same date. Solo declared a 1 for 2 reverse share split. The par of the share was increased from P10 to P20. Immediately before teh split. The par of the share was increased from P10 to P20. Immediately before the split, the total share premium was P900,000. What should be the balance of the share premium account after the reverse share split is effected A.P900.000 B.P1,700.000 C.P1,300,000 D. 0 On July 1, 2021. Battery Company's board of directors declared a 10% share dividend, The market price of Battery's 400,000 outstanding ordinary shares, P50 par value, was P80 per share on the date of declaration. The share dividend was distributed on September 1, 2021, when the market price of the shares was P100 per share on the date of declaration. What amount should be charged to the retained earnings account as a result of the share dividends ?…On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000 On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total Share premium was P1,500,000. What should be the balance in Funk Company’s Ordinary share account after the share split is effected? Group of answer choices a. 20,000,000 b. ,000,000 c. 25,000,000 d. 10,000,000On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000 On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total Share premium was P1,500,000. What should be the balance in Funk Company’s Ordinary share account after the share split is effected? a. 25,000,000 b. 2,000,000 c. 20,000,000 d. 10,000,000