For the year ended December 31, 2024, Norstar Industries reported net income of $955,000. At January 1, 2024, the company had1,030,000 common shares outstanding. The following changes in the number of shares occurred during 2024:April 30 Sold 75,000 shares in a public offeringMay 24 Declared and distributed a 5% stock dividendJune 1 Issued 84,000 shares as part of the consideration for the purchase of assets from a subsidiaryRequired:Compute Norstar's earnings per share for the year ended December 31, 2024.Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,000 shouldbe entered as 10). Round "Earnings per share" answer to 2 decimal places.Answer is complete but not entirely correct.$Numerator955÷DenominatorEarnings perShare1,170 =$0.82

Given: 75,000 shares are issued on Apr 30. Apr 30 to Dec 31 = 8 monthsThe dividend is declared on…

Answered: For the year ended December 31, 2024,…

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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Vihno
How much is the Ordinary Share Capital at year end? please kindly answer
For the year ended December 31, 2024, Norstar Industries reported net income of $980,000. At January 1, 2024, the company had 1,130,000 common shares outstanding. The following changes in the number of shares occurred during 2024: April 30 May 24 June 1 Sold 100,000 shares in a public offering Declared and distributed a 5% stock dividend Issued 114,000 shares as part of the consideration for the purchase of assets from a subsidiary Required: Compute Norstar's earnings per share for the year ended December 31, 2024. Show computations. Numerator Denominator Earnings per Share
On January 1, 2021, the start of the current financial year, Tubble Ltd had in issue 36 million ordinary shares with a par value of $1.60 each. The company also had a retained earnings balance of $121.6 million, arevaluation reserve balance of $5.9 million, and a share premium balance of $16.4 million. On May 1, 2021, the entity made a two for three bonus issue of shares, sparing retained earnings as much as possible. The entity reported profit after tax of $17.5 million for 2020 and $24.1 million for 2021. Required: • Prepare the relevant journal entries to record the bonus issue of shares. o Determine the EPS for 2021. o Determine the original and restated EPS for 2020.
Centipede Ltd. reported $1,558,200 net income for the year ended December 31, 2023 and paid preferred dividends of $45,800 on December 31, 2023. The following changes in common shares outstanding occurred during the year: 1-Jan 1-Apr 1-Jul 1-Sep 1-Nov 213,000 common shares were outstanding Issued 50,000 common shares Declared and issued a 10% common share dividend Repurchased and retired 12,000 common shares Issued a 3:1 stock split Required: Show all of your calculations in this spreadsheet EPS Question 2.xlsx so that you may be awarded part marks. Save your URL below part b. a) What is the weighted average number of common shares (WACS) outstanding during 2023? (5 marks) Round WACS to nearest unit (no mal places). WACS = b) What is the company's earnings per share for the year ended December 31, 2023? (2 marks) Round EPS to 2 decimal places. PS = $ A/
please include all supporting calculations.
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $ 105,000 624,000 840,000 a. November 1, 2024, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $1.9 million, but were purchased two years previously for $1.7 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. c. On July 12, 2025, the…
Haresh
Please answer with detailed working , and please provide answer in text form without image
For the year ended December 31, 2021, Norstar Industries reported net income of $990,000. At January 1, 2021, the company had 1,170,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 110,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. June 1 Issued 126,000 shares as part of the consideration for the purchase of assets from a subsidiary. Required: Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.) Numerator / Denominator / Earnings per Share
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. May 1 Sold 49,410 preferred shares for cash. Oct. 31 Sold 37,800 common shares for cash. 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 M # h
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