Hardaway Fixtures' balance sheet at December 31, 2023, included the following:Shares issued and outstanding:Common stock, $1 parNonconvertible preferred stock, $50 parOn July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends onthe preferred stock. Net income for the year ended December 31, 2024, was $2,000,000.$ 800,00020,000Required:Compute Hardaway's earnings per share for the year ended December 31, 2024.Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).Numerator$1,950,000Denominator Earnings per Share1,000,0001.95

Earning per share (EPS) will be calculated by dividing the earnings available for common…

Answered: Hardaway Fixtures' balance sheet at…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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National Supply's shareholders' equity included the following accounts at December 31, 2023: Shareholders Equity Common stock, 5 million shares at $1 part Paid-in capital-excess of par Retained earnings Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2024 Reacquired 480,000 shares at $9 per share. February 17, 2825 Reacquired 480,000 shares at $6.50 per share. November 9, 2826 Sold 335,000 shares at $8 per share (assume FIFO cost). 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2026, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net Income was $20 million in 2024, $22 million in 2025, and $24 million in 2026. No dividends were paid during the three-year period. Complete…
At the beginning of 2023, Barnes & Noble had 240,000 shares of $5 par value common stock outstanding. On August 1, Barnes & Noble issued another 120,000 shares. The Company’s 2023 Net Income was $524,000. In addition, you are given the following portion of Barnes & Noble’s 12/31/2023 Stockholders’ Equity section of its Balance Sheet: Preferred Stock ( 4%, $10 par, 72,000 shares issued and outstanding) $720,000 Calculate Barnes & Noble’s Earnings per Share for 2023 (round to the nearest cent). Select one: a. $1.38 b. $2.06 c. $1.71 d. $1.46 e. $1.81 PreviousSave AnswersFinish attempt ...
Herman Inc. has 180,000 shares of $5 par common stock outstanding at the beginning of the year 2022. The following transactions affecting stockholders’ equity occured suring the year. Assume Paid-in Capital—Treasury Stock has a zero beginning balance. · January 15: Purchased common stock as treasury shares, 6,000 shares at $20. · April 15: Sold common treasury stock, 2,400 shares at $14. The journal entry on April 15, 2022 will include: A) A credit to Treasury Stock for $120,000 B) A debit to Retained Earnings for $14,400 C) A debit to Treasury Stock for $48,000 D) A debit to Paid-in-Capital, Treasury Stock for $14,400
Year 2023 - Wyly Corp. experienced the following events related to its common stock and preferred stock during 2023. Jan 15, issued 100,000 more shares of its $2 Par Value common stock for $15 per share. On March 1, declared dividends of $450,000 on common stock payable on November 1, to stockholders of record as of July 1. On September 15, declared dividends on its $10 Par Value 4% preferred stock payable on November 1, to stockholders of record as of October 1. There are 250,000 preferred stock shares outstanding. Year 2024 - On January 3, 2024, Wyly repurchased, as treasury stock, 2,000 shares of common stock at $13 per share. One month later Wyly repurchased another 3,000 shares of common stock at $12.50 per share. To raise needed cash, Wyly re-sold 3,200 shares of the treasury stock at $14 per share on Oct 15, 2024. Wyly uses the FIFO method when re-selling treasury stock. Requirements: Record the 2023 common stock and preferred stock issues and dividends in the general…
CarFind Inc. showed the following equity information at December 31, 2022 Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings On April 1, 2023, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15, the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 21 share split to shareholders of record on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000. $1,010,000 1,380,000 Required: Prepare the company's equity section on the December 31, 2023, balance sheet. Contributed capital: Total equity CARFIND INC. Equity Section of Balance Sheet December 31, 2023
At January 1, 2025, Skysong Company's outstanding shares included the following. 283,000 shares of $50 par value, 7% cumulative preferred stock 942,000 shares of $1 par value common stock Net income for 2025 was $2,521,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2025. On April 1, 2025, 449,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of common stock were purchased for $19 per share and held as treasury stock. Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share LA
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/
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The stockholders' equity accounts of Wildhorse Company have the following balances on December 31, 2025. Common stock, $10 par, 292,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,920,000 1,320,000 5,080,000 Shares of Wildhorse Company stock are currently selling on the Midwest Stock Exchange at $33. Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) a. A stock dividend of 6% is (1) declared and (2) issued. b. A stock dividend of 100% is (1) declared and (2) issued. C. A 2-for-1 stock split is (1) declared and (2) issued. No. Account Titles and Explanation a. (1) a. (2) b. (1) b. (2) c. (1) c. (2) Debit Credit
Some of the account balances of Wildhorse Limited at December 31, 2022, are as follows: $7 Preferred shares (1.600 shares authorized, 1.600 shares issued and outstanding) Common shares (unlimited authorized, 50.000 shares issued and outstanding) Contributed surplus Retained earnings Accumulated other comprehensive income (31) The price of the company's common shares has been increasing steadily on the market; it was $19 on January 1, 2023, and advanced to $22 by July 1 and to $25 at the end of 2023. The preferred shares are not openly traded but were appraised at $118 per share during 2023. Wildhorse follows IFRS and had net income of $154,000 during 2023. For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April 1. Each common shareholder was to receive one share of Blossom Corp. for every 10 shares outstanding Wildhorse had 7,500 shares of Blossom (2% of the outstanding shares), which it had…

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