During the year ended December 31, 2011, Bond in, Inc., split its stock on a 3-for-1 basis. In its annual report for 2010, the firm reported a net income of $980,000 for 2010, with an average of 251,900 shares of common stock outstanding for that year. There was no preferred stock. a) What amount of net income for 2010 will be reported in Bondin's 2011 annual report? b) Calculate Bondin's earnings per share for 2010 which would have been reported in the 2010 annual report. c) Calculate Bondin's earnings per share for 2010 which will be reported in the 2011 annual report for comparative purposes.

During the year ended December 31, 2011, Bond in, Inc., split its stock on a 3-for-1 basis. In its annual report for 2010, the firm reported a net income of $980,000 for 2010, with an average of 251,900 shares of common stock outstanding for that year. There was no preferred stock. a) What amount of net income for 2010 will be reported in Bondin's 2011 annual report? b) Calculate Bondin's earnings per share for 2010 which would have been reported in the 2010 annual report. c) Calculate Bondin's earnings per share for 2010 which will be reported in the 2011 annual report for comparative purposes.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.
During the year ended December 31, 2014, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2013, the firm reported net income of $7,407,840 for 2013, with an average 1,073,600 shares of common stock outstanding for that year. There is no preferred stock. a. What amount of net income for 2013 will be reported in Gluco's 2014 annual report? b. Calculate Gluco's earnings per share for 2013 that would have been reported in the 2013 annual report.
During the year ended December 31, 2020, Gluco Inc. split its stock on a 3-for-1 basis. In its annual report for 2019, the firm reported net income of $987,900 for 2019, with an average 295,000 shares of common stock outstanding for that year. There was no preferred stock.Required: What amount of net income for 2019 will be reported in Gluco's 2020 annual report? Calculate Gluco's earnings per share for 2019 that would have been reported in the 2019 annual report. (Round your answer to 2 decimal places.) Calculate Gluco's earnings per share for 2019 that will be reported in the 2020 annual report for comparative purposes. Net Income ? Earnings Per Share ? Earnings Per Share ?
During the year ended December 31, 2020, Gluco Inc. split its stock on a 5-for-1 basis. In its annual report for 2019, the firm reported net income of $941,200 for 2019, with an average 211,000 shares of common stock outstanding for that year. There was no preferred stock.Required: What amount of net income for 2019 will be reported in Gluco's 2020 annual report? Calculate Gluco's earnings per share for 2019 that would have been reported in the 2019 annual report. (Round your answer to 2 decimal places.) Calculate Gluco's earnings per share for 2019 that will be reported in the 2020 annual report for comparative purposes. (Round your answer to 2 decimal places.)
What are the common earnings per share for 2017 on these financial accounting question?
At December 31, 2016, the financial statements of Hollingsworth Industries included the following: Net income for 2016 $560 million Bonds payable, 10%, convertible into 36 million shares of common stock $300 million Common stock: Shares outstanding on January 1 400 million Treasury shares purchased for cash on September 1 30 million Additional data: The bonds payable were issued at par in 2014. The tax rate for 2016 was 40%. Required: Compute basic and diluted EPS for the year ended December 31, 2016.
The following account balances relate to the stockholders’ equity accounts of Bonita Corp. at year-end. A small stock dividend was declared and issued in 2022. The market price of the shares issed was $10,500. Cash dividends of $16,300 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. What was the amount of net income reported by Bonita Corp. in 2022? Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. Common stock Dividends Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows. Common Stock Dividends
Bramble Corp. had net income for 2021 of $598000. The average number of shares outstanding for the period was 200000 shares. The average number of shares under outstanding options, at an option price of $30 per share is 11700 shares. The average market price of the common stock during the year was $36. What should Bramble Corp. report for diluted earnings per share for the year ended 2021?
Prepare the stockholders’ equity section of the balance sheet at December 31, 2017. Calculate the payout ratio, earnings per share, and return on common stockholders’ equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.)
Oriole Company had net income for 2021 of $603000. The average number of shares outstanding for the period was 201000 shares. The average number of shares under outstanding options, at an option price of $29 per share is 12600 shares. The average market price of the common stock during the year was $36. What should Oriole Company report for diluted earnings per share for the year ended 2021?
Alciatore Company reported a net income of $150,000 in 2016. The weighted-average number of common shares outstanding for 2016 was 40,000. The average stock price for 2016 was $33. Assume an income tax rate of 40%. Required: For each of the following independent situations, indicate whether the effect of the security is antidilutive for diluted EPS. 1. 10,000 shares of 7.7% of $100 par convertible, cumulative preferred stock. Each share may be converted into two common shares. 2. 8% convertible 10-year, $500,000 of bonds, issued at face value. The bonds are convertible to 5,000 shares of common stock. 3. Stock options exercisable at $30 per share after January 1, 2018. 4. Warrants for 1,000 common shares with an exercise price of $35 per share. 5. A contingent agreement to issue 5,000 shares of stock to the company president if net income is at least $125,000 in 2017.
(Post-Balance-Sheet Events) Madrasah Corporation issued its financial statements for the year ended December 31, 2017, on March 10, 2018. The following events took place early in 2018.(a) On January 10, 10,000 shares of $5 par value common stock were issued at $66 per share.(b) On March 1, Madrasah determined after negotiations with the Internal Revenue Service that income taxes payable for 2017 should be $1,270,000. At December 31, 2017, income taxes payable were recorded at $1,100,000.InstructionsDiscuss how the preceding post-balance-sheet events should be reflected in the 2017 financial statements