Shareholders Equity Excel Task Essay Assignment
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Shareholders Equity Excel Task Essay Assignment
problem 1
The outstanding share capital of Marginal Utility Corporation consists of 6,000 preferred shares with a book value of $420,000 and 22,000 common shares with a book value of $220,000. The preferred shares carry a dividend of $6 per share and have a $70 stated value.
Required: Assuming that the company has retained earnings of $340,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the two years preceding the current year, state how much each class of shares should receive under each of the following conditions:
- a) The preferred shares are non-cumulative and non-participating. b) The preferred shares are cumulative and non-participating. c) The preferred shares are cumulative and participating.
Problem 2
The following data were taken from the Balance Sheet accounts of Apple Corporation on December 31, 2010:
$2,200,000 2,040,000
Current Assets Investments, FV-NI Common Shares (no par value, no authorized
Limit, 300,000 shares issued and
Outstanding) Contributed Surplus Retained Earnings
9,000,000
660,000 1,820,000
Required: Prepare the required journal entries for the following unrelated items:
- a) A 4% stock dividend is declared and distributed at a time when the shares’
market value is $42 per share. b) A 5-for-1 stock split is affected. c) A dividend in kind is declared on January 5, 2011, and paid on February 15,
2011, in bonds that were classified as FV-NI. The bonds have a carrying value of $100,000 (equal to cost) and a fair market value of $160,000.
Problem 3 (20 Marks)
On January 2, 2011, Bluesman Corporation was incorporated in the province of Ontario. It was authorized to issue an unlimited number of no-par value common shares, and 25,000 shares of no-par, $8, cumulative and non-participating preferred. During 2011, the firm completed the following transactions:
Jan 8 Accepted subscriptions for 34,000 common shares at $12 per share. Down
payment received on the subscribed shares was 50%. Jan 30 Issued 10,000 preferred shares in exchange for the following assets:
machinery with a fair market value of $50,000, a factory with a fair market
value of $200,000, and land with an appraised value of $120,000. Mar 15 Machinery with a fair market value of $85,000 was donated to the company. Apr 25 Collected the balance of the subscription’s receivable on only 30,000 shares
and issued common shares. A customer defaulted on the last payment on a subscription for 4,000 shares. The company policy is to issue the proportion
paid up to date for customers that default. June 30 Purchased 2,200 common shares at $18 per share. The shares were retired. Dec 31 Declared sufficient cash dividends to allow a $1 per share dividend for
outstanding common shares. The dividend is payable on January 10,
2012, to shareholders of record on January 5, 2012. Dec 31 Closed the income summary to retained earnings. The income for the period
was $225,000.
Required:
- (16 Marks) Prepare the journal entries to record the above transactions. 2. (4 Marks) Prepare the shareholders’ equity section of the balance sheet for
Bluesman Corporation at December 31, 2011.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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