Nomis Ltd reported the following items on the balance sheet at December 31, 2020. Assets Current assets 43,200 Property,

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Nomis Ltd Reported The Following Items On The Balance Sheet At December 31 2020 Assets Current Assets 43 200 Property 1 (122.87 KiB) Viewed 39 times

Nomis Ltd Reported The Following Items On The Balance Sheet At December 31 2020 Assets Current Assets 43 200 Property 2 (191.62 KiB) Viewed 39 times

Nomis Ltd reported the following items on the balance sheet at December 31, 2020. Assets Current assets 43,200 Property, plant and equipment, net 83,800 Total assets 127,000 Liabilities Current liabilities 21,600 Bonds, net 32,000 Total liabilities 53,600 Shareholders' Equity $0.5 cumulative preferred shares; 600 shares issued 3,000 Common shares: 8,000 shares issued 40,000 Retained earnings 30,400 Total shareholders' equity 73,400 Total liabilities and shareholders' 127,000 equity During the year 2021, Nimos Ltd. had encountered the following transactions which affected shareholders' equity: Feb-12: Issued 3,000 common shares for $5.5 per share. Jun-17: Declared the regular cash dividend on the preferred shares. Aug-09: Paid the cash dividend.
Aug-09: Paid the cash dividend. Sep-03: Declared 10% stock dividend on the common shares. Market price of common shares at the time was $5.8 per share. Sep-25: Distributed the stock dividend. Oct-31: Issued 400 common shares for $6.2 per share. Req. 1: Journalize Nimos Ltd.'s transactions. Use the table for req. 1 below. There might be more rows than you need. In this case, leave the remaining ones blank. Req. 2: Report Nimos Ltd.'s shareholders' equity at Dec 31, 2021. Net income for the year was $23,500. Use the table for req. 2 below (scroll down if you do not see the entire window) Req. 3: Calculate the book value per common share' ratio for 2020 and 2021 and indicate whether the company's profitability (based on this ratio) has improved or deteriorated. Use table 3 below to provide your answer. (scroll down if you do not see the table 3 in the response window) Req. 4: Demonstrate your understanding of the relationships among the financial statements by answering the following question (use table 4 to provide your answer, scroll down if you do not see table 4 in the response window): What are two reasons for why a business might experience a cash shortage while having a steady stream of net income over a five-year period?