Reference no: EM132745370
The shareholders' equity section of Dainty Corporation's balance sheet at December 31, 2105 was as follows:
Ordinary share capital (P10 par value, authorized 1,000,000 shares
issued and outstanding 900,000 shares) P 9,000,000
Share Premium 2,700,000
Accumulated Profits 1,300,000
Total Shareholders' Equity P 13,000,000
Problem 1: On January 2, 2016, Dainty purchased and retired 100,000 of its shares for P 1,800,000. Immediately after the retirement of these 100,000 shares, how much should be the balance in the share premium and accumulated profits, respectively?
Share Premium Accumulated profits
a. P 900,000 P 1,300,000
b. 1,400,000 800,000
c. 1,900,000 1,300,000
d. 2,400,000 800,000
|
Determine the material purchase price variance
: Fixed overhead was estimated at 22,000 machine hours for the production cycle. Determine the material purchase price variance
|
|
What entry to record the sale on the books of image should
: Image sold the treasury shares on the open market at P200 per share. The entry to record the sale on the books of Image should include a credit to
|
|
What the amount of share premium - treasury resulting
: The cost method is used to account for treasury shares. The amount of share premium - treasury resulting from the above events would be?
|
|
Competitor communication analysis
: Select at least 2 competitors to your brand, using specific examples, describe and analyze their communication strategy.
|
|
How much should be the balance in the share premium
: Immediately after the retirement of these 100,000 shares, how much should be the balance in the share premium and accumulated profits, respectively?
|
|
What amount of bad debt expense will the company record
: Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record
|
|
Calculate the present value of both the options
: You can collect $103,000 today or receive $20,400 at the end of each year for the next seven years. Calculate the present value of both the options
|
|
Which the journal entry on conversion date will include
: The journal entry on conversion date will include which of the following? On 1/1/16, Everwood Co, issues 10,000 shares of P10 par value convertible preference
|
|
Compute the profit margin ratio
: Perform relevant calculations and analyses, and justify your recommendation. Ensure your work and conclusions are thoroughly supported.
|