The following information has been taken from the ledger accounts of Yogi Corporation: Total net income since incorporation Total cash dividends paid Carrying value of the company investment is Yogi company declared as property dividend Proceeds from sale of donated shares Total value of stocks dividends distributed Gain on treasury share transactions Unamortized premium on bonds payable Appropriated for contingencies The current balance of unappropriated retained earnings is: P2,030,000 b. P3,200,000 C. P1,330,000 d. P1,930,000 P3,200,000 150,000 600,000 150,500 420,000 375,000 413,200 700,000
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- PROBLEM 7-1 The following information has been taken from the ledger accounts of Yogi Corporation: Total net income since incorporation Total cash dividends paid Carrying value of the company investment is Yogi company declared as property dividend Proceeds from sale of donated shares Total value of stocks dividends distributed Gain on treasury share transactions Unamortized premium on bonds payable Appropriated for contingencies The current balance of unappropriated retained earnings is: a. b. C. d. P2,030,000 P3,200,000 P1,330,000 P1,930,000 P3,200,000 150,000 600,000 150,500 420,000 375,000 413,200 700,000The following information is taken from the records of Golden Harvest Corporation: 20 Collections from Sale of merchandise Sale of share capital Sale of investment property From issue of bonds payable From dividends on investments held P3,700,000 4,200,000 1,300,000 2,000,000 90,000 Cash payments for Purchase of furniture and fixtures Operating expenses Merchandise purchased Purchase of treasury shares Interest on notes payable Notes payable Dividends P3,400,000 1,505,000 2,580,000 100,000 120,000 1,000,000 500,000 Required: (a) How much is the net cash flow from operating activities ? (b) How mиch the net cash flow from investing activities? (c) How much is the net cash flow from financing activities? Assume a cash balance of P500,000 at the beginning of the year. How much is the cash balance at the end of the year? (d)Prepare financial statements for the year ended as of December 31, 20xx. You are only responsible for preparing the Income Statement, Statement of Retained Earnings and a Classified Balance Sheet. Complete Case # 3 in this Excel workbook on template provided on the right. 8 9 10 ABC Corporation Adjusted Trial Balance December 31, 20xx 11 12 13 14 Debit Credit 1,644,311 3,263,113 110 Cash 16 120 Accounts Receivable 17 125 Allowance for Doubtful Accounts 100,600 130 Inventory 140 Other Current Assets 150 Land 160 Equipment 161 Accumulated Depreciation - Equipment 170 Intangible Assets 210 Accounts Payable 220 Unearned Revenue 230 Wages Payable 310 Common Stock, $1 par (1,000,000 shares authorized, 504,000 Shares Issued) 311 Additional Paid In Capital (Excess of Issue over Par-C/S) 320 Retained Earnings 330 Treasury Stock (4,000 shares purchased for $25/share) 18 619,031 479,585 957,748 2,543,131 19 20 21 22 586,550 23 1,371,924 24 616,370 1,631,760 178,322 500,000 1,613,146 5,595,017 25…
- Current Attempt in Progress The following information has been taken from the ledger accounts of Nash Corporation. Total income since incorporation Total cash dividends paid Total value of stock dividends distributed Gains on treasury stock transactions Unamortized discount on bonds payable $328,000 Current balance of retained earnings 56,000 29,000 16,000 29,000 Determine the current balance of retained earnings.Financial statement analysis 2. Given below are the summarized accounts of Belper Ltd for the past five years. These the basis for the questions which follow. Summarized profit and loss accounts of Belper Ltd Sales Cost of sales Trading profit Depreciation Interest Net profit before tax Taxation Net profit after tax Extraordinary items Dividends Retained profits Retained at start of year Retained at end of year Fixed assets Freehold land and buildings Leasehold land and buildings Plant and machinery Total gross fixed assets Depreciation freehold Depreciation leasehold Depreciation plant, etc. Total depreciation Net fixed assets Intangible fixed assets Goodwill Investments Patents and trade marks Current assets Stock Debtors Bank and cash Current liabilities Creditors Taxation Dividends Bank loans and overdraft 19X4 Net current assets £000 Financed by Ordinary share capital Share premium account Retained profits Revaluation reserves 93,930 81,750 12,180 1,023 2,727 8,430 2,517 5,913…The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to two decimal places. 1. Compute the number of common shares. 2. Compute earnings per share.
- Which of the following measures the portion of a corporations profit allocated to each outstanding share of common stock? A. retained earnings B. EPS C. EBITDA D. NOPATThe income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.Problem 8-8 (AICPA Adapted) Faye Company provided the following data for the current year: Proceeds from sale of equipment Purchase of bond investment Dividend declared Dividend paid Proceeds from sale of treasury shares What is the net cash provided by financing activities? 100,000 1,800,000 450,000 380,000 750,000 a. 200,000 b. 270,000 c. 300,000 d. 370,000 AH
- ting Standards Sec-1 with B Shivakumar for Sem II 2021 C021-3/ Topic 3/ Quiz 2 Redemption of preference shares by a company is classified under investing activities of its cash flow statement Select one: of O True O False stion Next page pageThe accumulated profit account of One San Miguel Co, follows: Date Item Debit Credit 07/01/2020 Balance 48,500.00 08/31/2020 Dividends paid 12/31/2020 Net income for the year 20,000.00 32,400.00 04/01/2021 Premium on capital share 06/30/2021 Gain on treasury share 15,000.00 10,000.00 09/30/2021 Dividends declared 30,000.00 12/31/2021 Net Income for the year 45,100.00 Appraisal increase of land 30,000.00 Balance 131,000.00 181,000.00 181,000.00 What is the correct balance of Accumulated Profits on December 31, 2021?Which of the following transactions does not affect the Total Contributed Capital of the company? Conversion of Bonds Payable to Ordinary Shares Declaration of Cash Dividends Conversion of Preference Shares to Ordinary Shares Declaration and Issuance of 25% Stock Dividends Declaration and Issuance of 10% Stock Dividends