Earnings per Share Stanford Corporation began the year with 150,000 shares of common stock outstanding. On March 1 an additional 10,000 shares of common stock were issued. On August 1, another 16,000 shares of common stock were issued. On November 1, 12,000 shares of common stock were acquired as Treasury Stock. Stanford Corporation’s net income for the calendar year is $489,000. RequiredCalculate the company’s earnings per share.Earnings per Share $Answer

Earnings per Share Stanford Corporation began the year with 150,000 shares of common stock outstanding. On March 1 an additional 10,000 shares of common stock were issued. On August 1, another 16,000 shares of common stock were issued. On November 1, 12,000 shares of common stock were acquired as Treasury Stock. Stanford Corporation’s net income for the calendar year is $489,000. RequiredCalculate the company’s earnings per share.Earnings per Share $Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Not Graded Earnings per ShareLucky Corporation began the year with a simple capital structure consisting of 200,000 shares of outstanding common stock. On April 1, 90,000 additional common shares were issued, and another 30,000 common shares were issued on August 1. The company had net income for the year of $690,000. Calculate the earnings per share of common stock. Round to two decimal points.Earnings per Share $Answer
Journalize the following selected transactions completed during the current fiscal year: Date Transaction February 1 The board of directors declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000. February 11 Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost. May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock. May 15 Paid the dividend declared on May 1. October 19 Declared a 2% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $55). November 12 Issued the certificates for the common stock dividend declared on October 19. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
Common stock face value each is $ 1. Show all the required entries.
Statement of stockholders’ equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid-In Capital, $3,300,000; and Retained Earnings, $12,300,000. During June, Noric issued for cash 30,000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Net income $2,250,000 Cash dividends declared 475,000 Prepare a statement of stockholders’ equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Noric Cruises Inc.Statement of Stockholders' EquityFor the Month Ended October 31 CommonStock AdditionalPaid-InCapital RetainedEarnings Total $Balances, October 1 $Balances, October 1 $Balances, October 1 Balances, October 1 Issued Common Stock Issued…
Vai
Help
Identifying and Analyzing Financial Statement Effects of Stock TransactionsMelo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions.(a) Mar. 2 Issued 7,000 shares of $1 par value common stock at $30 cash per share.(b) Apr. 14 Issued 10,500 shares of $100 par value, 8% preferred stock at $250 cash per share.(c) June. 30 Purchased 2,100 shares of its own common stock at $22 cash per share.(d) Sep. 25 Sold 1,050 shares of its treasury stock at $26 cash per share.Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction.Note: Indicate a decrease in an account category by including a negative sign with the amount.
1
Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $1,089,000 Preferred dividends $62,000 Shares of common stock outstanding 65,000 Market price per share of common stock $131.14 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. $ b. Determine the company's price-earnings ratio. Round to one decimal place.
9