1. Indicate whether the balance of each of the following accounts is a net DR or
ID: 2517222 • Letter: 1
Question
1. Indicate whether the balance of each of the following accounts is a net DR or net CR at 12/31 for 2016 and 2015; 2016 2015 a. Common Stock b. Treasury Stock c. Retained Earnings d. AOCI2. Common shares – As of 12/31/16: a. How many shares of common stock are authorized? b. BOKF’s balance sheet language (“issued and outstanding”) suggests the number of common shares issued is the same as the number of common shares outstanding shares. Although either share amount would imply the same $4 thousand balance in Common Stock, we know the underlying share quantities (issued versus outstanding) are not actually the equal because BOKF also reports shares in treasury. If 74,993,407 actually represents the number of issued common shares, then what is the actual number of outstanding common shares at 12/31/16? c. In the first quarter of 2017, Stephen Bradshaw (the CEO of BOKF) owned 152,877 common shares of BOKF. Assuming he owned the same number of shares at 12/31/16, what percentage of the outstanding common shares are controlled by Bradshaw at 12/31/16? d. In the first quarter of 2017, George Kaiser (the Chairman of the BOKF Board of Directors) owned 39,890,369 common shares of BOKF. Assuming he owned the same number of shares at 12/31/16, what percentage of the outstanding common shares are controlled by Kaiser at 12/31/16? December 31 Assets Cash and due from banks Interest-bearing cash and cash equivalents 620846 S 573,699 2,069,900 122.404 597,836 9,042,733 44,217 273,684 1,916,651 Investment securities (fair value: 2016 5565,493; 2015-$629,159) Available for sale securities Fair value option securities Restricted equity securities Residential mortgage loans held for sale Loans 337,628 546,145 8,676,829 77,046 307.240 301,897 16,989.660 (246,159) 15,941.154 Allowance for loan losses and equipment, net 325,849 72,952 448 899 6,931 247.073 44.287 689,872 308.430 7,188 53,017 S 32.772.28 S 163.480 385.461 43,909 218,605 0,731 Intangible assets, net Mortgage servicing rights Real estate and other repossessed assets, net of allowance (2016-$9,562; 2015-$12,622) Derivative contracts Cash surrender value of bank-owned life insurance Receivable on unsetled available for sale securities sales Other assets 03,335 40,193 249,112 Liabilities and Equity Liabilities: 9.235,720 8296,888 Interest-bearing deposits: 10,865,10S 425,470 2,221,800 22,748,09s 57,929 668 661 Savings Time 9,998,954 386,252 2,406,064 Funds pur Repurchase agreements Subordinated debentures Accrued intcrest, taxes and expense Derivative contracts Due on unsettled available for sale securities purchases Other liabelities 22.444 4,837,879 226,350 119,584 581,701 16,897 24.284 146,704 664,531 1N2.784 Total liabilities Common stock ($.00006 par value; 2,500,000,000 shares authorized; shares issued and outstanding: 2016- 4,993,407; 2015-74,530,364) Capital surplus Retained earnings Treasury stock (shares at cost: 2016-9,655,975; 2015-8,636,332) Accumulated other c 82.009 ,704,121 477,165 21,587 3230,556 7,083 1,006.53 (844,052) income (loss) (10,967) 31,503 S 32,772.28 S Total shareholders' equity 3,274,854 Total liabilities and equity
Explanation / Answer
ans 1 2016 2015 a Common stock Cr Cr b Treasury stock Dr Dr c Retained Earnings Cr Cr d) AOCI Dr Dr ans 2 a) shares authorized on 12/31 2016 2500000000 b) Issued shares 74993407 Less: treasury stock -9655975 Outstanding shares 65337432 c) % controlled shares owned/outstanding shares*100 152877/65337432*100 0.23 % d) % controlled by Kaiser 39890369/65337432*100 61.05 % If any doubt please comment
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