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can you please insert the whole answer because the left side of the picture doesn't appear..this is my second time posting these questions thank you
can you please insert the whole answer because the left side of the picture doesn't appear..this is my second time posting these questions
Question 1 Presented below is information related to Sameer Company: 1. The company is granted a charter that authorizes issuance of 30,000 shares of $100 par value preference shares and 80,000 shares of no-par ordinary shares. 2. 4,000 ordinary shares are issued to the founders of the corporation for land valued by the board of directors at $150,000. The board establishes a stated value of $5 a share for the ordinary shares. 3. 10,000 preference shares are sold for cash at $120 per share. 4. The company issues 100 ordinary shares to its attorneys for costs associated with starting the company. At that time, the ordinary shares were selling at S60 per share. Instructions Prepare the general journal entries necessary to record these transactions. Question 2 The equity section of CBA shows the following on December 31, 2016: Share capital preference 6%, $100 par, 4,000 shares outstanding $ 400,000 Share capital ordinary-$10 par, 60,000 shares outstanding 600,000 Share premium-ordinary 200,000 Retained earnings 114.000 Total equity $1.314.000 Instructions Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/16 and that preference dividends were last paid on 12/31/14, show how much the preference and ordinary shareholders should receive if the preference shares are cumulative and fully participating thank you in advance
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