Question
In: Accounting
The Quiet Canyon Hotel & Spa provides the following information on the shareholders' equity from its...
| The Quiet Canyon Hotel & Spa provides the following information on the shareholders' equity from its balance sheet: | |||
| 7% Preferred stock, $50 par, callable at $57 | |||
| 30,000 shares authorized and 25,000 shares issued | $1,425,000 | ||
| Common stock, $7 par value | |||
| 1,500,000 shares authorized, 1,000,000 shares issued | ? | ||
| Additional paid-in capital--Common stock | 12,000,000 | ||
| Retained earnings | 9,000,000 | ||
| Based on this information,
the total amount of the stockholders' equity is equal
to: |
|||
Solutions
Expert Solution
Ans. Calculation of Total amt stockholder equity
Common stock issued 1000000 @$7 each = 7000000
Addional paid in capital/premium = 12000000
Retained earning = 9000000
Equity holder fund = $28000000
Add: 7% Peference share (25000X50) = $1250000
Total shareholder fund = $29250000
ekkarill92 answered 1 year agoRelated Solutions
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2.
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3.
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5....
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Sandhill Technologies Inc. reported the following information
related to its shareholders’ equity on January 1:
Common shares, 1,200,000 authorized, 600,000 shares issued
$1,800,000
Contributed surplus—reacquisition of common shares
14,160
Retained earnings
714,000
During the year, the following transactions related to common
shares occurred in the order listed:
1.
Issued 38,000 shares at $4.00 per share.
2.
Reacquired 10,800 shares at $3.00 per share.
3.
Issued 4,900 shares at $4.60 per share.
4.
Reacquired 18,900 shares at $4 per share.
5....
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Analyzing and Interpreting Equity Accounts and
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Following is the statement of shareholders’ equity from the 2019
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Consolidated Statement of Stockholders'
Equity
Reserve
Accumulated
Common
Additional
for ESOP
Other
Shares
Common
Preferred
Paid-In
Debt
Comprehensive
Treasury
Retained
Noncontrolling
Dollars in millions; shares in thousands
Outstanding
Stock
Stock
Capital
Retirement
Income (Loss)
Stock
Earnings
Interest
Total
Balance, June 30, 2018
2,498,093
$4,009
$967
$63,846
$(1,204)
$(14,749)
$(99,217)
$98,641
$590
$52,883
Impact of adoption of...
The following balances in its shareholders’ equity at 1 January: Contributed equity (450 0000 ordinary shares)...
The following balances in its
shareholders’ equity at 1 January:
Contributed equity (450 0000 ordinary shares) $2
100 000
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During the year the business had the following transactions
1 Mar. Issued 200 000 ordinary shares for cash at $8 per
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of record...
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at the beginning of the current year (January 1, 2021):
Preferred shares ($ 1.50, cumulative*, 100,000 shares
authorized, 5,000 shares issued)
.................................................... $ 25,000
Common shares unlimited shares authorized, 8,000 shares issued
................ 160,000
Retained
earnings...............................................................................................
92,000
Total shareholders' equity
.................................................................................
$ 277,000 *two years of dividends are in arrears.
During the year ended December 31, 2021, the following
transactions took place: 1. On January 1, issued 9,000 common
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Following is the shareholders’ equity section of Morgan Supplies on a day its common stock is...
Following is the shareholders’ equity section of Morgan
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share.
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outstanding)
$ 60,000
Additional paid-in capital on common stock
1,200,000
Retained earnings
3,000,000
Required:
a. Use the financial statement
template below to show the financial statement effects of
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independent.)
(1) Cash dividend declaration and payment of $1 per share
(2) Property...
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National Supply’s shareholders’ equity included the following
accounts at December 31, 2017:
Shareholders'
Equity
($
in millions)
Common stock, 4
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4,000,000
Paid-in capital—excess of
par
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Retained earnings
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accounts at December 31, 2017:
Shareholders' Equity
($ in millions)
Common stock, 3 million shares at $1 par
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Required:
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stock in two separate transactions and later sold shares. Prepare
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assumptions: the shares are (a) retired and (b) accounted for as
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February...
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