At December 31, 2020, Albrecht Corporation had outstanding 388,000shares of common stock and 10,000 shares of 9.5%, $100 par valuecumulative, nonconvertible preferred stock. On May 31, 2021, Albrecht soldfor cash 12,000 shares of its common stock. No cash dividends weredeclared for 2021. For the year ended December 31, 2021, Albrechtreported a net loss of $2,038,000.Required:Calculate Albrecht's net loss per share for the year ended December 31,2021. (Enter your answers in thousands. Negative amounts should beindicated by a minus sign. Do not round intermediate calculations.)Numerator1DenominatorNet Loss perShare

Net loss per share = Net loss - Preference dividend/weighted average common shares outstanding

Answered: At December 31, 2020, Albrecht…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Assume TRI reported income from operations of $2,477,760 (inclusive of a loss from discontinued operations of $391,200) in 2021. It did not declare any common dividends during the year. However it did declare and pay preferred dividends of $600,000 on December 20, 2021. It began the year with 132,000 common shares outstanding and issued 720,000 common shares on April 1. On June 15 a 20% stock dividend was declared and distributed. On November 1, it repurchased 144,000 shares and cancelled them. Determine the company’s basic EPS from continuing operations for the year. Select one: a. $4.76. b. $2.90. c. $3.17. d. $2.84. e. $3.40.
On December 31, 2019, Shoreline Hotel Inc.., reported its shareholders' equity as follows: Common shares, no par value, authorized 200,000 shares issued and outstanding 120,000 shares $1,350,000 Retained earnings 700,000 Total shareholders' equity $2,050,000 On January 1, 2020, it declared a 10% stock dividend on its common shares when the market value of the common shares was $22 per share before market adjustment (ie: prior to ex-dividend value). What was the effect on Shoreline’s retained earnings as a result of the above transaction? Select one: a. $264,000 decrease . b. $135,000 decrease . c. $400,000 increase. d. $240,000 increase. e. None of the above answers.
Accounting NEED ASAP PLEASE AND THANK U! Sheridan Company had 219,600 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Sheridan Company reported net income of $265,000 after a loss from discontinued operations of $43,200 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to 2 decimal places, e.g. $2.55.) Sheridan Company Income Statement December 31, 2022
At December 31, 2019, Coriander Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,382 shares $10,838,200 Common stock, $5 par, 4,028,120 shares 20,140,600 During 2020, Coriander did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $23,047,100 Discontinued operations (loss before taxes) $3,399,700 Preferred dividends declared $1,083,820 Common dividends declared $2,390,900 Effective tax rate 35 % Compute earnings per share data as it should appear in the 2020 income statement of Coriander Corporation.
At December 31, 2015, Albrecht Corporation had outstanding 253,000 shares of common stock and 16,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $394,000. Required: Calculate Albrecht's net loss per share for the year ended December 31, 2016. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.)
please include all supporting calculations.
Rose and Hose Garden Supply Co. had 1,358 shares of common stock outstanding at January 1, 2019. On April 1, 2019, it repurchased 54 shares of common stock. Outstanding all year were 10 shares of nonconvertible cumulative preferred stock. Ute reported net income of $1,238 for the year ended December 31, 2019. Ute Co's board of directors declared $138 in preferred dividends during 2019. In its December 31, 2019, income statement, what amount should Ute report as basic earnings per share? (Round to the nearest penny. Type your answer...
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 24,000 shares of common stock on the open market as treasury stock paying $40 per share. Brisbane sold 6,000 treasury shares on September 30, 2021, for $45 per share. Net income for 2021 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 50,000 common shares at $40. The market price of the common shares averaged $50 during 2021. Compute Brisbane's basic and diluted earnings per share (rounded to 2 decimal places) for 2021.
At December 31, 2019, Hemington Company had 320,000 shares of common stock outstanding. Hemington sold 80,000 shares on October 1, 2020. Net income for 2020 was $1,985,000; the income tax rate was 35%. In addition, Hemington had the following debt and equity securities on its books at December 31, 2019. (a) 30,000 shares of $100 par, 8% cumulative preferred stock (b) 25,000 shares of 10% convertible cumulative preferred stock, par $100, sold at 110. Each share of preferred stock is convertible into three shares of common stock. (c) $1,500,000 face value of 9% bonds sold at par. (d) $2,500,000 face value of 7% convertible bonds sold to yield 8%. Unamortized bond discount is $150,000 at December 31, 2019. Each $1,000 bond is convertible into 22 shares of common stock. Also, options to purchase 20,000 shares of common stock were issued May 1, 2020. Exercise price is $20 per share; market value at date of option was $19; average market value for the year (and for the period…
Splish Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,100 shares issued) $210,000 Common stock, $5 par (91,000 shares authorized, 18,200 shares issued) 91,000 Additional paid-in capital 130,000 Retained earnings 448,000 Total $879,000 During 2020, Splish took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $43 per share. Splish uses the cost method. 3. Reissued 800 treasury shares for land valued at $35,100. 4. Issued 540 shares of preferred stock at $107 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for…
During 2020, Road Pavement Corp. engaged in the following selected transactions: Jan 01: Issued 25,000 shares of $3 par value common stock at $7 per share. Jun 15: Re-acquired 1,000 shares of common stock sold in Jan for $5 per share. Aug 10: Sold 400 shares of the re-acquired common stock purchased in June for $8 per share. Sept 30: The Board of Directors declared and recorded a cash dividend of $0.30 per share outstanding to its share holders. Nov 30: Paid the cash dividend declared in September. Dec 15: Issued another 5,000 shares of common stock at $10 per share. Required: (a) Record the Journal Entries for the above transactions: (b) Prepare the Stockholders Equity Section of the Balance Sheet if the Retained Earnings at the end of the year has a balance of $95,000.
Presented below is information related to Alligator Corporation for 2019. 1. On September 4, Alligator Corporation sold the 1,000 treasury shares that they had purchased on August 10 at $22 per share. The purchase price of the shares was $25 per share. There is no previous balance in the paid-in-capital from treasury stock account (journalize both purchase and resale).2. On September 20, Alligator Corporation declared & issued a 20% stock dividend on the outstanding common stock when the stock is selling for $50 per share. 3. On December 31, a 3-for-1 stock split is declared and issued.4. On December 31, Alligator Corporation declared a $0.90 per share liquidating dividend on the common stock outstanding. Journalize the following transactions from the perspective of Alligator Corporation.

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