Q1. Wheeler Company reports the following amounts for 2017.

Net income $ 110,000 Average shareholders equity 1,000,000

Preference dividends 26,000 Par value preference shares 200,000

The 2017 rate of return on ordinary shareholders equity is

a. 13.8% b. 10.5% c. 11.0%

d. 8.4%

Q2. Oxford Inc. was authorized to issue 200,000 10 par value ordinary shares. As of December 31, 2017, the company had issued 88,000 shares at an average price of 22 per share. During 2017, the company felt that the shares were undervalued so it purchased 20,000 treasury shares at 18 per share. When the share price rebounded later in the year, the company sold 8,000 of the treasury shares for 25. Retained earnings was 3,316,000 at December 31, 2017.

The amount of Share Premium reported on the December 31, 2017 statement of financial position is a. 560,000. b. 1,056,000.

c. 1,112,000.

d. 1,936,000.

Q3.

240. Oxford Inc. was authorized to issue 200,000 10 par value ordinary shares. As of December 31, 2017, the company had issued 88,000 shares at an average price of 22 per share. During 2017, the company felt that the shares were undervalued so it purchased 20,000 treasury shares at 18 per share. When the share price rebounded later in the year, the company sold 8,000 of the treasury shares for 25. Retained earnings was 3,316,000 at December 31, 2017.

Total equity at December 31, 2017 is

a. 4,892,000. b. 5,036,000. c. 5,092,000.

d. 5,524,000.

Q4. Tang Inc. was authorized to issue 1,500,000 1,000 par value ordinary shares. As of December 31, 2017, the company had issued 240,000 shares for proceeds of 594,000,000. During 2017, the company purchased 30,000 treasury shares at a total cost of 66,000,000. Later in the year, the company sold half of the treasury shares for 42,900,000. The balance in retained earnings at December 31, 2017 was 972,000,000

Total equity at December 31, 2017 is

a. 290,400,000. b. 1,542,900,000. c. 1,566,000,000.

d. 1,599,000,000.

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