at december 31, 2022 and 2023 sunland corp had 102000 common shares and 10200 $4 no par value cumulative preferred shares outstanding. No dividends were declared in 2022 or 2023. Net income for 2023 was $296780. For 2023 basic earnings per share would be
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at december 31, 2022 and 2023 sunland corp had 102000 common shares and 10200 $4 no par value cumulative
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- 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 98 Net income for the year Declaration and payment of a $0.35 per share cash dividend 35 Declaration and distribution of a6% stock dividend 25 145 Ending balance Required:1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude’s retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint: In lieu of revenues and expenses, use an account titled “Income summary” to close net income or net loss.)2. Prepare a statement of retained earnings for Brenner-Jude for the…Sunland Rental Corporation had the following balances in its shareholders' equity accounts at January 1, 2021: Accumulated other comprehensive income (loss) Contributed surplus-reacquisition of common shares Retained earnings Common shares (25,000 shares) Feb. 2 Sunland had the following transactions and events during 2021: Apr. 17 Oct. 29 $ (26,000) Dec. 31 559,000 1,600,000 625.000 Repurchased 1.200 shares for $57,600. Declared and paid cash dividends of $71,000. Issued 1,900 shares for $106,000 cash. Reported comprehensive income of $415,000, which included other comprehensive income of $31.000.Bramble Corp. reported the following balances at December 31, 2021: common stock $408,000, paid-in Capital in Excess of Par- common stock $106,000, and retained earnings $242,000. During 2022, the following transactions affected stockholders' equity. 1. 2. 3. 4. Issued preferred stock with a par value of $128,500 for $209,000. Purchased treasury stock (common) for $36,500. Earned net income of $135,000. Declared and paid cash dividends of $52,500. Prepare the stockholders' equity section of Bramble Corp's December 31, 2022, balance sheet.
- aved Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock $1,010,000 $ 770,000 $1,080,000 101,000 75,000 $ 650,000 Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid The common stock was sold at a price of $31 per share. E11-4 Part 4 4. Compute earnings per share. (Round your answer to 2 decimal places.)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.Blabla Grocery Inc., reported the following financial information on December 31, 2019: Common shares issued and outstanding throughout 2019 700,000 shares 6% nonconvertible cumulative preferred shares capital $450,000 Retained Earnings on January 1. 2019 $3,500,000 Basic EPS for 2019 $0.99 per share In addition, the company did not declare any dividends for either 2018 or 2019. The amount which the company would report as Retained Earnings on December 31, 2019 would be: Select one: a. $673,000. b. $693,000. c. $4,220,000. d. $4,173,000. e. $4,166,000.
- On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. $ 241,000 482,000 195,000 1,950,000 3,900,000 20,500 Common stock, $1 par, 241,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 19,500 shares outstanding Retained earnings Treasury stock, at cost, 4,100 shares During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 20: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Shareholders' equity Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend…Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock $1,010,000 $ 770,000 $1,080,000 Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid 101,000 75,000 $ 650,000 The common stock was sold at a price of $31 per share. E11-4 Part 2 2. What was the amount of retained earnings at the beginning of the year? Retained earnings Next DroAccounting Madison Co had the following components of shareholders' equity at the beginning of 2020: Preferred shares, Class B, no par, $2, non-cumulative, redeemable $2,000,00 and retractable, 400,000 authorized, 100,000 issued and outstanding Common shares, unlimited number authorized, 600,000 issued and outstanding Retained earnings 6,000,000 11,400,000 The following events took place during 2020: Jan Issuance of 50,000, $3 cumulative preferred shares - Class C for $30 per 22 share Apr 3 10% common stock dividend declared and issued Oct Common dividends declared and paid by Board of Directors of $1.50 per 10 share Nov 5 Repurchase of 10,000 $2 no par value preferred shares for $26.50 per share Required: Prepare the financing activities section of the cash flow statement for the year ended December 31, 2020.
- Riverbed Ltd. provides the following information for calendar 2023: 1. Net income $468,470 2. Capital Structure a) $9 preferred shares, no par value, cumulative, 6,000 shares outstanding $600,000 No dividends were declared during 2023. b) Common shares, 81,000 shares outstanding on January 1. On April 1, 43,000 shares were issued for cash. On October 1, 19,000 shares were purchased and retired $1,187,500 c) On January 2, 2022, Riverbed purchased Apso Corporation. One of the terms of the purchase was that if Riverbed’s net income for 2022 or subsequent years is $448,470 or more, 53,000 additional common shares would be issued to Apso shareholders.Calculate basic and diluted earnings per share for 2023. (Round answers to 2 decimal places, e.g. 15.25.) Basic earnings per share $enter a dollar amount rounded to 2 decimal places Diluted earnings per share $enter a dollar amount rounded to 2 decimal placesThe following data were reported in the shareholders' equity section of the Bubba Industries' comparative balance sheets for the years ended December 31 ($ in millions): 2020 2019 Common stock, $1 par per share Paid-in capital-excess of par Retained earnings $306 $300 174 150 314 300 During 2020, Bubba declared and paid cash dividends of $45 million. The company also issued a stock dividend. No other changes occurred in shares outstanding during 2020. What was Bubba's net income for 2020? $99 million O $24 million O $69 million $75 millionAt the end of the accounting year, December 31, 2007, Emme's records reflected the following: (Compute for the total stockholders' equity) - Common stock, no par, 5,000 shares issued, issue price P12 per share - Preferred stock, par P5, 1,000 shares issued and outstanding; issue price, P15 per share - Unrealized gain, available-for-sale securities, P18,000 - Retained earnings, P20,000 (unappropriated) - Preferred stock, par P5, subscribed (not yet issued), 400 shares; subscription price P20 per share -Subscriptions receivable on the preferred stock P5,000 to be collected on January 1, 2008 -Reserve for bond sinking fun, P15,000 -Treasury stock, common stock, 1,000 shares, cost P10 per share
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