Bryson Corporation has income from continuing items of $580,000 and a gain on discontinued operations, net of tax, of $240,000. In addition, it has declared preferreddividends of $1 per share on 100,000 shares of preferred stock outstanding. The changes in Bryson's common stock shares outstanding during 2025 are as follows. Date ShareChanges Shares Outstanding January 1 Beginning Balance 180,000 May 1 Purchased 30,000 shares for the treasury (30,000) 150,000 July 1 Additional shares due to 3 for 1stock split 300,000 450,000 December 31 Issued 50,000 shares for cash 50,000 December 31 Ending balance 500,000 INSTRUCTIONS a. Compute Bryson's earnings per share.b. Indicate the presentation of earnings per share on the face of the income statement.

It represents the portion of a company's profit allocated to each outstanding share of common stock.…

Answered: Bryson Corporation has income from…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Centipede Ltd. reported $1,558,200 net income for the year ended December 31, 2023 and paid preferred dividends of $45,800 on December 31, 2023. The following changes in common shares outstanding occurred during the year: 1-Jan 1-Apr 1-Jul 1-Sep 1-Nov 213,000 common shares were outstanding Issued 50,000 common shares Declared and issued a 10% common share dividend Repurchased and retired 12,000 common shares Issued a 3:1 stock split Required: Show all of your calculations in this spreadsheet EPS Question 2.xlsx so that you may be awarded part marks. Save your URL below part b. a) What is the weighted average number of common shares (WACS) outstanding during 2023? (5 marks) Round WACS to nearest unit (no mal places). WACS = b) What is the company's earnings per share for the year ended December 31, 2023? (2 marks) Round EPS to 2 decimal places. PS = $ A/
For the year ended December 31, 2021, Norstar Industries reported net income of $990,000. At January 1, 2021, the company had 1,170,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 110,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. June 1 Issued 126,000 shares as part of the consideration for the purchase of assets from a subsidiary. Required: Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.) Numerator / Denominator / Earnings per Share
Please do not give solution in image format ?
Pet Boutique Corp. reported $4,549,230 of profit for 2023. On November 2, 2023, it declared and paid the annual preferred dividends of $261,880. On January 1, 2023, Pet Boutique had 73,500 and 567,000 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year: Feb. 1 Declared and issued a 20% common share dividend. Apr.30 Sold 119,130 common shares for cash. May 1 Sold 49,410 preferred shares for cash. Oct. 31 Sold 37,800 common shares for cash. a. What is the amount of profit available for distribution to the common shareholders? Earnings available to common shareholders b. What is the weighted-average number of common shares for the year? Weighted-average outstanding shares M # h
On January 1st, 2023, Jackson Corporation had 15,000, $2.60 cumulative preferred shares and 20,000 common shares. Jackson did not pay any cash dividends during the previous fiscal year-ended December 31st, 2022. The company pays $45,000 of cash dividends during 2023. Which of the following amounts represents the cash dividends that the preferred shareholders would receive in 2023? $39,000 $45,000 $15,000 $6,000 None of the above. please answer do not image.
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Assume that, on January 1, 2021, Matsui Co. paid $1,795,200 for its investment in 74,800 shares of Yankee Inc. Further, assume that Yankee has 220,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $440,000 at January 1, 2021. The following information pertains to Yankee during 2021: Net income Dividends declared and paid Market price of common stock on 12/31/2021 Multiple Choice $2,081,200. What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee? $1,949,200. $220,000 66,000 $1,847,560. $ $ 26/share
The Li Group had 150,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are no potential common shares outstanding. 2024 February 28 Purchased 3,000 shares of treasury stock. October 31 Sold the treasury shares purchased on February 28. November 30 Issued 12,000 new shares. December 31 Net income for 2024 is $1,639,000. 2025 January 15 Declared and issued a 2-for-1 stock split. December 31 Net income for 2025 is $1,639,000. Required: 1. Determine the 2024 EPS. 2. Determine the 2025 EPS. 3. At what amount will the 2024 EPS be presented in the 2025 comparative financial statements? Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Denominator Earnings per Share 1. = 0 23 2. = 0 3. 0
The shareholders' equity section of Charles Corporation at December 31, 2024, included the following: $4 preferred shares, cumulative, 10,000 shares authorized, 4,000 shares issued $400,000 Common shares, 500,000 shares authorized, 350,000 shares issued 2,000,000 Dividends were not declared on the preferred shares in 2024 and are in arrears. On September 15, 2025, the board of directors of Charles Corporation declared all of the annual dividends on the preferred shares for 2024 and 2025, to shareholders of record on October 1, 2025, payable on October 15, 2025. The amount of total dividends declared on preferred shares on September 15, 2025, is $32,000. $16,000. $20,000. ○ $64,000.
FMC Corp has 100 million shares of $1 par common stock authorized. The transactions below caused changes in FMC's outstanding shares. January 4, 2021: Repurchased and retired 1.90 million shares at $8.90 per share. June 25, 2021: Repurchased and retired 2.90 million shares at $2.90 per share. Prior to the transactions, FMC's shareholders' equity included the following: Common stock, 80.90 million shares at $1 par $ 80,900,000 Paid-in capital—excess of par 234,610,000 Retained earnings 129,000,000 Required:Prepare the journal entries to record the repurchase and retirement of the shares. (Do not round your per share amounts. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
The outstanding share capital of Sheng Inc. includes 45,000 shares of $9.60 cumulative preferred and 80,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Year 2021 2022 2023 2024 Total Dividends Declared Preferred Common $ e 460,000 1,028,000 460,000 Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each clas over the four years. 2021 2022 otal Dividends 2023 2024 Total
On January 1, 2021, Eugene Co. had retained earnings of P1,240,000. During 2021, the co. earned net income of P456,000. The following transactions occurred:a. Cash dividends of P12 per share on 42,000 shares of ordinary shares were declared and paid.b. A small share dividend was declared and issued. The dividend consisted of 6,620 shares of P25 par ordinary share. On the date of declaration, the market price of the company’s ordinary share was P34 per share.c. The co. recalled and retired 12,100 shares of P50 par preferred share. The call price was P93 per share; the share had originally been issued for P80 per share. d. The Eugene discovered that it had erroneously recorded depreciation expense of P200,000 in 2019 for both financial and tax reporting. The correct depreciation for 2019 had been P275,000. This is considered a material error. Assume tax rate of 25%. The balance of retained earnings on December 31, 2021:

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