What would be the reduction in singer equity

Assignment Help Financial Accounting
Reference no: EM132979931

Question - Singer Corporation owned 900,000 shares of Writer Corporation. On December 31, 2019, when Singer's account "Investment in Writer Corporation" had a carrying value of P5 per share, Singer distributed these shares to its shareholders as a dividend. Singer originally paid P8 for each share. Writer has 3,000,000 shares issued and outstanding, which are traded on a national stock exchange. The quoted market price for a Writer share was P7 on the declaration date and P9 on the distribution date. What would be the reduction in Singer's equity as a result of the above transactions?

Reference no: EM132979931

Questions Cloud

What is Kyle income : Kyle 30% owner received guaranteed payment of $50,000 from Green LP. In addition, Green distributed $10,000 cash to Kyle on July 15, 2020. What is Kyle income
How much is the gain or loss on sale to be recognized : If on April 1, 2021, half of the trading securities are sold for P3,225,000, how much is the gain or loss on sale to be recognized for 2021
Explain in an oral presentation underlying pathophysiology : Explain in an oral presentation the underlying pathophysiology of ONE of Maddis clinical manifestations and Describe ONE high priority nursing intervention
Impact of human resources management activities : Critically discuss the impact of Human Resources Management activities on the Organisational Performance. The Candidate must justify how the chosen organization
What would be the reduction in singer equity : Singer Corporation owned 900,000 shares of Writer Corporation. What would be the reduction in Singer's equity as a result of the above transactions
Calculate the price of a three-month call option : Calculate the price of a 3-month call option on the Company stock with strike price equal to K22. Calculate the forward price for delivery in 9 months
What was the net profit on this option to the speculator : The spot rate at expiration was $0.48. Assume there are 62,500 units in a Swiss franc option. What was the net profit on this option to the speculator
Explain what it means in terms of natural numbers : Provides a sequence of most general unifiers, one per resolution step, and when these are composed, in the order they were generated, you have a substitution
What is the profit or loss : Use the profit formula to determine whether Benjamin's Backpacks makes a profit or loss if it sells 10 backpacks. What is the profit or loss

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