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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Wheaton Inc. had the following balances as of December 31, 2021: -Contributed surplus- common share repurchase $ 44,000 -Retained Earnings $ 400,000 -Common shares- 100,000 issued, outstanding $1,414,000 During 2022, Wheaton had the following equity transactions: Mar. 1- issued 10,000 common shares in exchange for land appraised at $170,000 when the common shares’ market price was $16 each; July 1- repurchased 8,000 common shares- this resulted in a reduction of contributed surplus-common share repurchase by $44,000 and retained earnings by $4,000. the average issue price per common share re-purchased was $25. By how much would shareholders’ equity be reduced? Select one: a. $163,200. b. $200,000. c. $248,000. d. $244,000. e. $204,000.
Ritz Company had the following shares outstanding and Retalned Earnings at December 31, 2020: Common shares (500,000 outstanding shares) Preferred shares (8 percent; 21,000 outstanding shares) Retained earnings $500,000 210,000 900,000 On December 31, 2020, the board of directors Is considering the distribution of a cash dividend to the common and preferred shareholders. No dividends were declared during 2018 or 2019. Three Independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of 2020 dividends would be $30,000. Case B: The preferred shares are cumulative; the total amount of 2020 dividends would be $30,000. Dividends were not in arrears prior to 2018. Case C: Same as Case B, except the amount is $75,000. Required: 1-a. Compute the amount of dividends, In total, payable to each class of shareholders for each case. Case A Case B Case C Preferred Common Total 1-b. Compute the amount of dMdend per share, payable to each class of shareholders for…
Marlene Co. had 300 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Marlene Co.’s Board of Directors declared and distributed a 1% common stock dividend when the market value of its common stock was $60 per share. In recording this transaction, Marlene would: a. Debit retained earnings for $180 million. b. Credit paid-in capital—excess of par for $180 million. c. Credit common stock for $180 million. d. None of these answer choices correct.
Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 107 million common shares, $1 par per share. Retained Earnings ($ in millions) 109 Beginning balance Retirement of 7 million common shares for $38 million 2 Declaration and payment of a $0.35 per 98 Net income for the year Share cash dividend 35 Declaration and distribution of a ______6% stock dividend 25_________________________________________…
Pronghorn Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations. 2018 $236,000 net loss At December 31, 2020, Pronghorn Inc. capital accounts were as follows. 2019 $37,000 net loss 7% cumulative preferred stock, par value $100; authorized, issued, and outstanding 4,500 shares Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 774,000 shares Book value per share $ 2020 Book value per share $ $774,000 net income Pronghorn Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Pronghorn began operations. The state law permits dividends only from retained earnings. (a) Compute the book value of the common stock at December 31, 2020. (Round answers to 2 decimal places, e.g. $38.50.) $450,000 $774,000 (b) Compute the book value of the common stock at December 31, 2020, assuming that the preferred stock has a liquidating value of $105 per share. (Round answers…
Waterway, Inc., has 4900 shares of 3%, $100 par value, cumulative preferred stock and 39200 shares of $1 par value common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $45200 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? $0 $45200 $14700 $46300
At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year Hamilton reported net income of $75,000, sold treasury stock at a "gain" of $27,000, declared a cash dividend of $45,000, and declared and issued a small stock dividend of 1,500 shares ($10 par value) when the fair value of the stock was $30 per share. The amount of retained earnings available for dividends at the end of 2021 was a. $332,000. b. $354,500. c. $327,500. d. $305,000.
Murphy Co. had 60,000 common shares outstanding on January 1, 2020. The company sold an additional 4,500 shares on March 1, issued a 3-for-1 stock split on September 1, and reacquired 3,600 shares on December 1. The company also dedared, but has not paid, a dividend on its 10,000 shares of 5%, $10 par, noncumulative preferred stock. The net loss for the year was $3,190. Required: Compute Murphy Co.'s basic earnings per share for 2020. If required, round your answer to two decimal places.
At December 31, 2023, Albrecht Corporation had outstanding 373,000 shares of common stock and 8,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2024, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2024. For the year ended December 31, 2024, Albrecht reported a net loss of $1,862,000. 1. Calculate Albrecht's net loss per share for the year ended December 31, 2024. 2. Complete the table in the picture
Dedrick Inc. did not pay dividends in 2018 or 2019, even though 60,000 shares of its 7.5%, $50 par value cumulative preferred stock were outstanding during those years. The company has 900,000 shares of $2 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. (Round your answer to 2 decimal places.) b. Calculate the amount that would be received by an investor who has owned 3,100 shares of preferred stock and 29,000 shares of common stock since 2017 if a $0.40 per share dividend on the common stock is paid at the end of 2020. (Do not round intermediate calculations.) a. b. Annual dividend per share Total dividends received $ 3.75
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 112 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2021, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.8 million, but were purchased two years previously for $2.4 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. c. On July 12, 2022, the corporation declared and distributed a 4 %…
On December 31st, 2022 Czervik Construction had 60,000 shares of $50 par value common stock outstanding. On January 1st, 2020, Czervik issued 30,000 shares of $100 par value, 4% cumulative preferred stock. Czervik did not declare dividends in 2020. Czervik declared $220,000 of total dividends in 2021. Czervik declared $220,000 of total dividends in 2022. What was the amount of dividends received by common shareholders in 2022? Correct answer is $80,000 Please, explain every step

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