Question
Peebles Company purchased 5,000 shares of its own 5 par value ordinary shares, paying 14 per share. The shares were originally sold for 9 each.
Peebles Company purchased 5,000 shares of its own 5 par value ordinary shares, paying 14 per share. The shares were originally sold for 9 each. The journal entry to record the purchase of treasury shares includes a debit to Retained Earnings for 25,000. Treasury Shares for 70,000. Share Capital-Ordinary for 25,000. Share Premium-Ordinary for 20,000. New Corp. issues 4,000 ordinary shares with a $10 par value at $16 per share. When the transaction is recorded, credits are made to Share Capital-Ordinary $40,000 and Retained Earnings $24,000. Share Capital-Ordinary $64,000. Share Capital-Ordinary $40,000 and Share Premium-Ordinary $24,000. Share Capital-Ordinary $24,000 and Share Premium-Ordinary $40,000. Venco Corporation's December 31, 2017 statement of financial position showed the following: Share capital-preference 6%, 20 par value, cumulative, 10,000 shares authorized; 7,500 shares issued Share Capital-ordinary, 10 par value, 1,000,000 shares authorized; 975,000 shares issued, 960,000 shares outstanding Share premium-preference Share premium-ordinary Retained earnings Treasury shares (15,000 shares) 150,000 9,750,000 30,000 13,500,000 3,750,000 315,000 Venco declared and paid a 45,000 cash dividend on December 15, 2017. If the company's dividends in arrears prior to that date were 9,000, Venco's ordinary shareholders received 18,000. 27,000. no dividend. 36,000. The following data are available for Lin Fa Shan Company: Increase in accounts payable #40,000 Increase in bonds payable 100,000 Sale of investment 50,000 Issuance of ordinary shares 60,000 Payment of cash dividends 30,000 Net cash provided by financing activities is #90,000. #130,000. #160,000. #170,000
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