Ceradyne Corporation, a publicly traded company, started the year ended November 30, 2024, with 187,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Issued 42,960 common shares for $709,000. Sept. 4 Nov 1 30 30 Issued 54,400 $1 noncumulative preferred shares for $1.4 million. Issued 18,720 common shares in exchange for land. The shares were trading for $18 on this date and the fair value of the land was $320,660. Reported net income of $1,010,800. Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on December 31. be
Ceradyne Corporation, a publicly traded company, started the year ended November 30, 2024, with 187,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Issued 42,960 common shares for $709,000. Sept. 4 Nov 1 30 30 Issued 54,400 $1 noncumulative preferred shares for $1.4 million. Issued 18,720 common shares in exchange for land. The shares were trading for $18 on this date and the fair value of the land was $320,660. Reported net income of $1,010,800. Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on December 31. be
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
C
Transcribed Image Text:Current Attempt in Progress
Ceradyne Corporation, a publicly traded company, started the year ended November 30, 2024, with 187,000 .common shares and no
preferred shares issued. The following changes in share capital occurred during the year:
Feb. 28
Sept. 4
Nov
1
30
30
Issued 42,960 common shares for $709,000.
Issued 54,400 $1 noncumulative preferred shares for $1.4 million.
Issued 18,720 common shares in exchange for land. The shares were trading for $18 on this date and the fair value
of the land was $320,660.
Reported net income of $1,010.800.
Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on
December 31.
D
Transcribed Image Text:Calculate the basic earnings per share for the year. (Round answer to 2 decimal places, e.g. 52.75.)
Basic earnings per share
$
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education