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Determine value charged to accumulated profits

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Q1. Yuan Company declared share dividends of 20% on its 200,000 issued and outstanding ordinary shares with a par value of $50 per share. At the time of declaration, the market value of ordinary shares was $80 per share and $100 per share at the time shares were issued. A. Determine value charged to accumulated profits and losses account. B. Compute the amount which should be credited to the liability account.

Q2. On 1 January 2020, Xtreme Co. , whose shares are publicly traded, had 100,000 shares of ordinary shares issued and outstanding. On 1 April 2020, the company issued 10% share dividends. On 1 September 2020, additional 9,000 ordinary shares were issued for cash and on 1 November 2020, the shares were split on a 3-for-1 basis. What is the new number of shares issued and outstanding on 31 December 2020?

Reference no: EM132935312

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