Financial Accounting For the year ended 31 December 2009, Shopalot Companyhad a net income of $1,950,000. The companyhad 1,500,000 shares of common stock outstanding, nopreferred stock, and no convertible financial instruments.What is Shop alot's basic EPS?

Step 1: Define Basic Earnings Per ShareBasic earnings per share (EPS) is the amount of earnings…

Answered: For the year ended 31 December 2009,…

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

Cisco Systems Inc. reported the following in its income statement for the year ended July 27, 2013: Net income $9,983 million, basic earnings per share of $1.87 and diluted earnings per share of $1.86. How many additional dilutive shares did Cisco include in the diluted EPS for the year?
The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: Please see the attachment for details: The 20Y7 net income was $411,000, and the 20Y6 net income was $462,500. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7.a. Determine the return on total assets, the return on stockholders’ equity, and the return on common stockholders’ equity for the years 20Y6 and 20Y7. Round percentages to one decimal place.b. What conclusions can be drawn from these data as to the company’sprofitability?
Lou Company has December 31, Year 1 balances of ÁOCI $27,000 (debit), APIC $77,000, and Retained Earnings $313,000. For Year 2, the company has net income of $17,000, an unrealized gain on available-for- sale securities of $18,000 , and the issuance of treasury stock costing $22,000 for $29,000. The ending Year 2 balances for AOCI, APIC, and Retained Earnings are, respectively $45,000, $84,000, and $330,000 $9,000, $70,000, and $330,000 $9,000, $84,000, and $330,000 $9,000, $84,000, and $296,000 а. b. С. d.
Madrid Company has provided the following data (ignore income taxes): 2014 revenues were $80,500. 2014 net income was $34,500. Dividends declared and paid during 2014 totaled $6,300. Total assets at December 31, 2014 were $223,000. Total stockholders' equity at December 31, 2014 was $130,000. Retained earnings at December 31, 2014 were $85,000. Which of the following is not correct?
. The following are the amounts of Care Corporation’s assets and liabilities at May 31, 2010 and its revenue and expenses for the year ended on that date, listed in alphabetical order. Care Corporation had share capital of P50,000 and accumulated profits of P87,390 on June 1, the beginning of the fiscal year. During the year, the corporation paid cash dividends of P25,000. Accounts payable P 48,320 Accounts receivable 68,840 Advertising expense 14,600 Cash 40,150 Insurance expense 12,000 Land 150,000 Miscellaneous expense 3,140 Notes payable 22,000 Prepaid insurance 2,000 Rent…
The following information was taken from the financial statements of Tolbert Inc. for December 31 of the current fiscal year:Common stock, $20 par (no change during the year) $10,000,000Preferred $4 stock, $40 par (no change during the year) 2,500,000The net income was $1,750,000, and the declared dividends on the common stock were $1,125,000 for the current year. The market price of the common stock is $45 per share. For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. Round ratios and percentages to one decimal place, except for per-share amounts.
At the beginning of the year, Pharoah Ltd. had total assets of $806,400 and total liabilities of $470,400. Use this information to answer each of the following independent questions. During the year, Pharoah's total liabilities decreased by $112,000. The company reported net income of $100,800, sold additional shares for $140,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year? Assets $
Mazaya Company provided the following financial information as of March 31, 2011. Revenue RO140,000, Retained earnings (1/4/10) R.O.79,00o, Equipment 40,000, Expenses 125,000, Cash 69,000, Dividends 10,000, Supplies 5,000, Accounts payable 20,000, Accounts receivable 15,00o, Share capital ordinary 25,000, Mazaya's equity on March 31, 2011 are.
Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per share data). Net income $2,436 Earnings per share: Basic $2.08 Diluted $2.06 Weighted average shares outstanding: Basic 1,172 a.Recompute basic earnings per share. b.How many weighted average shares were dilutive in 2014?
At the beginning of the year, the net assets of Shannon Co. were $617,900. The only transactions affecting stockholders’ equity during the year were net income of $60,800 and dividends of $16,600.Required:Calculate Shannon Co.’s return on equity (ROE) % for the year.
Crane Jewelers management announced that the company had net earnings of $4,356,000 for this year. The company has 1,613,000 shares outstanding, and the year-end stock price is $68.91. What are Crane’s earnings per share and P/E ratio? (Round answers to 2 decimal places, e.g. 12.25)
Concord Corp began the year by issuing $113000 of common stock for cash. The company recorded revenues of $123000, expenses of &971000, and paid dividends of $62000. What was concord's net income for the year?

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

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,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

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

SEE MORE TEXTBOOKS

For the year ended 31 December 2009, Shopalot Company had a net income of $1,950,000. The company had 1,500,000 shares of common stock outstanding, no preferred stock, and no convertible financial instruments. What is Shop alot's basic EPS?