Nomis Ltd reported the following items on the balance sheet at December 31, 2020. Assets Current assets 57,200 Property,

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Nomis Ltd Reported The Following Items On The Balance Sheet At December 31 2020 Assets Current Assets 57 200 Property 1 (61.85 KiB) Viewed 39 times

Nomis Ltd Reported The Following Items On The Balance Sheet At December 31 2020 Assets Current Assets 57 200 Property 2 (76.25 KiB) Viewed 39 times

Nomis Ltd reported the following items on the balance sheet at December 31, 2020. Assets Current assets 57,200 Property, plant and equipment, net 113,400 Total assets 170,600 Liabilities Current liabilities 41,600 Bonds, net 50,000 Total liabilities 91,600 Shareholders' Equity $0.5 cumulative preferred shares; 2,500 500 shares issued Common shares: 4,000 shares issued 20,000 Retained earnings 56,500 Total shareholders' equity 79,000 Total liabilities and shareholders 170,600 equity During the year 2021. Nimos Ltd. had encountered the following transactions which affected shareholders' equity: Feb-12: Issued 2,000 common shares for $5.2 per share.
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 $5.5 per share. Sep-25: Distributed the stock dividend. Oct-31: Issued 1,000 common shares for $5.6 per share in exchange for property. 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 $24,500. 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): How can you explain that a business which suffers net losses for several years in a row still has plenty of cash?