What is the total balance in darnell contributed

Assignment Help Financial Accounting
Reference no: EM132667719

On June 30, 20X5, Darnell Corp. (DC) had the following shares outstanding:

Common shares: 60,000 shares issued and outstanding $600,000

Preferred shares: 1,000 shares issued and outstanding100,000

Total share capital $700,000

Problem 1: DC has never repurchased shares before. As such, it does not have any contributed surplus arising from share repurchases. On July 1, 20X5 DC re purchased 100 common shares on the open market for $14 per share and 100 preferred shares for $95 per share. What is the total balance in Darnell's contributed surplus accounts immediately after these transactions are recorded?

Reference no: EM132667719

Questions Cloud

What is the new mean : A set of exam marks has mean 70, median 65, inter-quartile range 25 and standard deviation 15 marks. It is decided to subtract 10 from all the marks.
What is the net amount that will be credited to hfc : Horses Forever Corp. (HFC) exchanged 10,000, What is the net amount that will be credited to HFC's common share account because of this transaction?
Why do countries impose trade barriers : Why do countries impose trade barriers? What is the effect of trade barriers on the trade balance, the employment, and the economic growth?
What is Cindy office in the home deduction : Cindy maintains an office in her home that comprises 8% (200 square feet) of total floor space. What is Cindy office in the home deduction
What is the total balance in darnell contributed : What is the total balance in Darnell's contributed surplus accounts immediately after these transactions are recorded? Total share capital $700,000
Calculate the profits after six-months : Is covered interest arbitrage worthwhile? If so, calculate the profits after six-months, assuming that you have 3,500 CAD. What else might you do to maximize pr
Describe the crucial concept of supply and demand : In this assignment, you will demonstrate your understanding of the Production Possibility Frontier model, marginal opportunity costs, and the differences.
Calculate consumer surplus as a benefit per day : Draw an inverse demand curve (P as a function of Q) and calculate Consumer Surplus as a benefit per day under two scenarios: $2 in (a) and free ($0) in b.
Calculate the motorola project internal rate of return : Motorola Mobility LLC, Calculate the Motorola project internal rate of return (IRR). Would you accept or reject this project? Why?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd