Question 1 john company has 490000 shares of 10 par value

Assignment Help Cost Accounting

Reference no: EM13350032

Question :

1. John company has 490,000 shares of $10 par value general stock outstanding. During the year, John declared a 10% stock dividend when the market price of the stock was $30 per share. Four months later, John declared a $.50 per share cash dividend. As a result of the dividends declared through the year, retained earnings decrease by what amount?

2. On 1^st December, 2012, Mary Corporation exchanged 30,000 shares of its $10 per value general stock held in treasury for a used machine. The treasury shares were acquired by Mary at a cost of $40 per share, and are accounted for under the cost technique. On the date of the exchange, the general stock had a fair value of $55 per share (the shares were initially issued at $30 per share). As a result of this exchange, Mary's total stockholders' equity will increase by what amount?

3. At the starting of 2013, George company had retained earnings of $180,000. Through the year George reported total income of $75,000, sold treasury stock at a "gain" of $27,000, declared cash dividend of $45,000, and declared and issued a small stock dividend of 1,500 shares ($10 par value) when the fair value of the stock was $30 per share. Evaluate the amount of retained earnings available for dividends at the end of 2013?

4. David company issued 100,000 shares of $10 par general stock for $1,200,000. David acquired 10,000 shares of its own general stock at $15 per share. Three months later David sold 5,000 of these shares at $19 per share. If the cost technique is used to record treasury stock transactions, to record the sale of the 5,000 treasury shares, David should credit what amount(s)?

5. Peter corporation earned total income of $583,918 in 2012 and had 175,000 shares of general stock outstanding throughout the year. Also outstanding all year was $858,000 of 10 percent bonds, which are convertible into 18,000 shares of common. Peter's tax rate is 36%. Evaluate Peter's 2012 diluted earnings per share.

Reference no: EM13350032

Questions Cloud

Question 1as mauritius continues to attract a growing : question 1as mauritius continues to attract a growing number of foreigners to its shores investors have been showing a

Question1a 380 kg piano slides 39m down a 27 degree incline : question1a 380 kg piano slides 3.9m down a 27 degree incline and is kept from accelerating by a man who is pushing back

Question1a tabletop gamer has designed a game that requires : question1a tabletop gamer has designed a game that requires three dice to be thrown onto a tray with a measurement

Question1a piece of copper wire has a resistance per unit : question1a piece of copper wire has a resistance per unit length of6.1510-3? m. the wire is wound into a thin flat coil

Question 1 john company has 490000 shares of 10 par value : question 1. john company has 490000 shares of 10 par value general stock outstanding. during the year john declared a

Question 1following the popularization of sustainable : question 1following the popularization of sustainable development as an environmental management concept by the

Question cajun ltds equity at 30 june 2011 was as given400 : question cajun ltds equity at 30 june 2011 was as given400 000 ordinary shares issued at 1.60 fully paid 640 000500 000

Questiona draw one diagram showing plan view footprint of : questiona. draw one diagram showing plan view footprint of the building and nearby obstacles and others showing the

Question 1 the subsequent information is availablestarting : question 1 the subsequent information is availablestarting raw materials inventory 10000ending raw materials inventory

User Account

All Pages