Q: Vector Gaming Ltd. showed the following equity account balances on December
Vector Gaming Ltd. showed the following equity account balances on December 31, 2020: Common shares, 100,000 shares authorized; 28,000 shares issued and outstanding $476,000 Retained earnings 85,000 O...
See AnswerQ: On September 2, Garrett Corporation purchased and retired 2,000
On September 2, Garrett Corporation purchased and retired 2,000 of its own shares for $18,000. The shares had been issued at an average price of $5. Prepare the September 2 entry for the purchase and...
See AnswerQ: Outdoor Equipment Inc. had 180,000 common shares issued and
Outdoor Equipment Inc. had 180,000 common shares issued and outstanding as at December 31, 2020. The shares had been issued for $9.80 each. On September 12, 2021, Outdoor repurchased and retired 40,00...
See AnswerQ: Nelson Corp. earned profit of $450,000. The
Nelson Corp. earned profit of $450,000. The number of common shares outstanding all year long was 200,000 and preferred shareholders received a dividend totalling $10,000. Calculate the earnings per s...
See AnswerQ: Bellevue Ltd. reported profit of $860,000 for its
Bellevue Ltd. reported profit of $860,000 for its year ended December 31, 2020. Calculate earnings per share given the following additional information at December 31, 2020:
See AnswerQ: On January 1, Harmon Corp. had 100,000 common
On January 1, Harmon Corp. had 100,000 common shares outstanding. On February 1, Harmon Corp. issued 40,000 additional common shares. On June 1, another 80,000 common shares were issued. Calculate Har...
See AnswerQ: On January 1, Harrell Corp. had 75,000 common
On January 1, Harrell Corp. had 75,000 common shares issued and outstanding. On April 1, it issued 24,000 additional shares, and on June 1 declared and distributed a 20% share dividend. Calculate Harr...
See AnswerQ: On January 1, Star Corp. had 50,000 common
On January 1, Star Corp. had 50,000 common shares issued and outstanding. On April 1, it issued 4,000 additional shares, and on June 5 declared and distributed a two-for-one share split. Calculate Sta...
See AnswerQ: Huang Hardware Inc. had the following transactions involving non-strategic
Huang Hardware Inc. had the following transactions involving non-strategic investments during 2020: Required 1. Prepare an amortization schedule for the Barker bond showing only 2020 and 2021. 2. Prep...
See AnswerQ: A $15,000 bond with a contract interest rate of
A $15,000 bond with a contract interest rate of 6% was issued on March 1, 2020. Calculate the cash paid on the first interest payment date if interest is paid: a. annually b. semiannually c. quarter...
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