Current Attempt in ProgressAt December 31, 2024, Wildhorse Company had 800000 shares of common stock outstanding. On October 1, 2025, an additional160000 shares of common stock were issued. In addition, Wildhorse had $10550000 of 5% convertible bonds outstanding atDecember 31, 2024, which are convertible into 366000 shares of common stock. No bonds were converted into common stock in2025. The net income for the year ended December 31, 2025, was $2513090. Assuming an income tax rate of 30%, diluted earningsper share for the year ended December 31, 2025 isO $2.52.O $3.43.O $2.08.O $2.39.

Earnings per share indicates the company's ability to generate earnings for a unit of common shares.…

Answered: Current Attempt in Progress At December…

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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On January 3, 2025, SY Company has 200,000, P10 par value ordinary shares outstanding having a market price of P15. The shares were originally issued at P14. The total undistributed accumulated net earnings were P4,000,000. On January 4, 2025, SY company declared a 2 for 1 stock split. Compute the balance of Retained earnings after the Stock Split. Compute the balance of Total Contributed Capital after the Stock Split. Assuming that the 2 for 1 stock split was a reverse split (split down), the Total stockholders Equity after the split is
The balance in the retained earnings account of Indigo Corporation was P450,000 at December 31, 2021. During 2022, the company had the following transactions: - Acquired 5,000 shares of treasury stock at P70 per share. The stock had a par value of P50 and had originally been issued for P65 per share. There had been no previous treasury stock transactions. - Net income of P400,000 was earned in 2022. - Sold the 5,000 shares of treasury stock at P80 per share. The company uses the cost method of accounting for treasury stock, what is the balance in total retained earnings at December 31, 2022?
The Sirap Corp. issued 20000 shares of Common Stock $1 Par at $25 on 1/3/17. The following transactions occurred in 2018. Reacquired 2000 shares of Treasury Stock $40 per share. The Co, then sold 800 shares of the Treasury Stock at $50 per share. C) The Co. then sold 500 shares of the Treasury Stock at $36 per share. How do you Journalize the above 4 Transactions in good form?
On January 1, 2020, a company issued 10-year, $330,000 face value, 7% bonds, at par. Each $1,000 bond is convertible into 11 shares of common stock. The company’s net income in the year was $460,000, and its tax rate was 24%. The company had 100,000 shares of common stock outstanding throughout 2020. What is the numerator for computing diluted earnings per share for 2020?
On January 1, 2018 Orion Company Limited had 7,00,000 shares to continue its business.On April 1, 2018 the company issued an additional 3,00,000 shares for cash . All10,00,000 shares were outstanding on December 31.2016. Orion Company Limited alsoissued Tk.7,00,000 of 20 years 8% convertible bonds at par on August 1,2018 . EachTk.1000 bond converts to 50 shares common at any interest date. None of the bonds havebeen converted to date. Orion Company Limited is preparing its annual report for thefiscal year ending December 31, 2018. The annual report will show earnings per sharesending figures based upon a reported after tax net income of Tk.15,40,000 ( The tax rateis 30%)Required: Compute the Basic earnings per share & Diluted earnings per share.
Current Attempt in Progress Sandhill Inc. had 978000 shares of common stock issued and outstanding at December 31, 2024. On July 1, 2025, an additional 978000 shares were issued for cash. Sandhill also had stock options outstanding at the beginning and end of 2025 which allow the holders to purchase 307000 shares of common stock at $28 per share. The average market price of Sandhill's common stock was $35 during 2025. The number of shares to be used in computing diluted earnings per share for 2025 is 2017400. 1528400 O 1712600. O2201600.
please find basic earnings per share and diluted earnings per share
Current Attempt in Progress On January 2, 2025, Oriole Co. issued at par $1920000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Oriole had 204000 shares of common stock outstanding during 2025. Oriole's 2025 net income was $898000 and its income tax rate was 30% Oriole's diluted earnings per share for 2025 was O $4.79. O $4.55. O $4.40. O $4.38.
At the beginning of 2025, Sheffield Industries had 24,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Sheffield had revenues of $155,000 and expenses other than interest and taxes of $106,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share (b) Assume the same facts as those assumed for part (a), except that the 500 bonds were issued on September 1, 2025 (rather than in a prior year), and none have been converted or redeemed. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 1.35 Earnings per share 0,97 (c) Assume the same facts as assumed for part (a), except that 100 of the 500 bonds were actually converted on July 1, 2025. Compute diluted earnings per share for 2025.…
Eastern Corporation began operations on January 1st, 2020. The company reported the following information on its balance sheet as of December 31st, 2020: Liabilities Convertible bonds payable, $7,500,000, 5%, matures on Dec 31, 2025: $7,184,073 (See Note 1 below) Equity Common shares (unlimited authorized, 9,000,000 issued and outstanding). $18,000,000 Class A Preferred shares, cumulative $7 annual dividend, convertible to common shares at 4 common shares for each preferred share (400,000 authorized, 80,000 issued and outstanding) $3,000,000 Class B Preferred shares, non-cumulative $15 annual dividend, convertible to common shares at 2 common shares for each preferred share (4,000,000 authorized, 100,000 issued and outstanding) $750,000 Contributed surplus, common stock warrants for the purchase of common shares for $12 per share at any date before December 31st,…
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On January 1, 2022, Blossom Corporation had $1,485,000 of common stock outstanding that was issued at par. It also had retained earnings of $751,000. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $390,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2022, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Par value is $10, and market price is $18. b. Par value is $5, and market price is $20. a. No. Account Titles and Explanation a. b. Debit Credit

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