EPS Inc. had net income of $8,950,000 in 2xxx. The company had 2, 500, 000 shares of $4 par valuecommon stock and 60,000 shares of 8%, $100 par, preferred stock outstanding throughout the year. Eachshare of preferred stock is both cumulative and convertible into 3 shares of common stock. Compute thefollowing for 2xxx: (show your work) (a) The number of shares to be used in computing basic earnings pershare. (b) The number of shares to be used in computing diluted EPS. (c) Basic earnings per share

Each preference share is convertible into 3 shares of common stockIt means that those preference…

Answered: following for 2xxx: (show your work)…

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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Question Content Area The price-earnings ratio on common stock is computed as a. dividends per share of common stock divided by earnings per share on common stock b. market price per share of common stock divided by earnings per share on common stock c. earnings per share of common stock divided by market price per share of common stock d. market price per share of common stock divided by dividends per share of common stock
Find Out : (a)Earnings per share(b)Return on common stockholders' equity in %(c)Return on assets in %(d)Current ratio in :1(e)Accounts receivable turnover in times(f)Average collection period in days(g)Inventory turnover in times (h)Days in inventory in days (i)Times interest earned in times (j)Asset turnover in times (k)Debt to assets ratio in % (l)Free cash flow
The income statement is a financial summary of the firm's operating results during a specified period Select one: O True O False on age CHAPTER 5- STOCK VALL ctivities CH3 Jump to...
1. What amount should be reported as total assets after restatement for hyperinflation? a. 3,550,000b. 6,000,000c. 6,780,000d. 5,000,000 2. What amount should be reported as retained earnings after restatement? a. 950,000b. 200,000c. 400,000d. 500,000 3. What amount should be reported as total shareholders’ equity after restatement? a. 5,200,000b. 5,400,000c. 6,150,000d. 5,800,000
Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): Return on common stockholders' equity Earnings per share on common stock Price-earnings ratio Dividends per share of common stock Dividend yield
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. Sold 49,410 preferred shares for cash. Sold 37,800 common shares for cash. May 1 Oct. 31 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
TRUE OR FALSE Earnings per share is found by taking the net income for the year divided by the number of common shares outstanding at the end of the year.
a. Times interest earned ratio times b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield % %24
Given the following data, what is the ending balance in the common stock account? 634,438 Total assets, ending Total liabilities, ending 321,286 69,495 32,445 279,868 180,251 Retained Earnings, ending Dividends declared Revenues Expenses Your Answer: Answer
The following events were experienced by Sequoia, Inc.: 1. Issued cumulative preferred stock for cash. 2. Issued common stock for cash. 3. Issued noncumulative preferred stock for cash. 4. Paid cash to purchase treasury stock. 5. Sold treasury stock for an amount of cash that was more than the cost of the treasury stock. 6. Declared a cash dividend. 7. Declared a 2-for-1 stock split on the common stock. 8. Distributed a stock dividend. 9. Appropriated retained earnings. 10. Paid a cash dividend that was previously declared. Required Show the effect of each event on the elements of the financial statements using a horizontal statements model. Use + for increase, for decrease, and leave the cell blank if there is no effect. In the Cash Flow column indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. The first transaction is entered as an example.
The account which increases equity is known as? A. Debit Account B. Credit Account C. Revenue D. Treasury Stock
Identify the term being referred to: An example of this dividend policy is when dividend of P1 per share is paid during the first three quarters and P3 per share is paid during the fourth quarter. *

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following for 2xxx: (show your work) (a) The number of shares to be used in computing basic earnings per share. (b) The number of shares to be used in computing diluted EPS. (c) Basic earnings per share