The Following Information/Schedule sets forth the Current Portion & Long-Term Portion of the Debt and the Shareholder's Equity of the Humza Mohammed Corporation as at December 31st, 20X2. The President Steven J. Nguyen, has requested that you Assist the Controller Can Emir Sakarcan in Preparing Figures for the Required Earnings Per Share Calculations.
Humza Mohammed Corporation
Statement of Financial Position
For the Year Ended December 31, 2020
Assets
Current Liabilities:
Notes Payable $4,000,000
Current Portion of Long-Term Debt $10,000,000
Total Current Liabilities $14,000,000
Long Term Liabilities:
4.0% Convertible Debenture/Bonds $30,000,000
Other Long-Term Debt (Net of Current Portion) $20,000,000
Total Long-Term Liabilities $50,000,000
Total Liabilities $64,000,000
Shareholder's Equity:
$4.00 Cumulative Convertible Preferred Shares, No Par Value; Authorized 2,000,000 Shares, Issued and Outstanding 1,200,000 Shares, Liquidating Preference; $30.00 Per Share, Aggregating $36,000,000
$24,000,000 Common Shares, No Par Value; Authorized 20,000,000 Shares; Issued and Outstanding 7,000,000 Shares, Including 500,000 Shares Held In Treasury $11,200,000
Retained Earnings $76,500,000
Total $111,700,000
Less: Cost of the 500,000 Common Shares Held in Treasury (Acquired Prior to 20X2) $900,000
Total Shareholder's Equity $110,800,000
Total Liabilities & Shareholder's Equity $174,800,000
The Following Information/Schedule sets forth the Current Portion & Long-Term Portion of the Debt and the Shareholder's Equity of the Humza Mohammed Corporation as at December 31st, 20X2. The President Steven J. Nguyen, has requested that you Assist the Controller Can Emir Sakarcan in Preparing Figures for the Required Earnings Per Share Calculations.
Humza Mohammed Corporation Statement of Financial Position
For the Year Ended December 31, 2020
Assets
Current Liabilities: Notes Payable Current Portion of Long-Term Debt $4,000,000 $10,000,000
Total Current Liabilities $14,000,000
Long Term Liabilities: 4.0% Convertible Debenture/Bonds Other Long-Term Debt (Net of Current Portion) Total Long-Term Liabilities $30,000,000 $20,000,000 $50,000,000
Total Liabilities $64,000,000
Shareholder's Equity $4.00 Cumulative Convertible Preferred Shares No Par Value; Authorized 2,000,000 Shares, Issued and Outstanding 1,200,000 Shares Liquidating Preference; $30.00 Per Share, Aggregating $36,000,000 Common Shares, No Par Value Authorized 20,000,000 Shares; Issued and Outstanding 7,000,000 Shares Including 500,000 Shares Held In Treasury Retained Earnings $24,000,000 $11,200,000 $76,500,000
Total $111,700,000
Less: Cost of the 500,000 Common Shares Held in Treasury (Acquired Prior to 20X2) $900,000
Total Shareholder's Equity $110,800,000
Total Liabilities & Shareholder's Equity $174,800,000
