January 1, ABC Company, whose stock is publicly traded, had 100,000 shares of common stock ued and outstanding. On April 1, ABC Company issued a 10% stock dividend. What is the number shares to be used in the computation of basic earnings per share for this year?
Q: On January 1, 2021, a company had 444,000 shares of common stock outstanding. During the year, it…
A: Weighted average no of shares = Opening outstanding shares + shares issued * period used /12 -…
Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…
A: Earnings per share means how much is being earned by each shareholder in the business. Price…
Q: At December 31, the records of Nortech Corporation provided the following selected and incomplete…
A: Stockholder's Equity includes the amount contributed by shareholders in the form of common stock,…
Q: At December 31, the records of Nortech Corporation provided the following selectec and incomplete…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: A company with 88,000 authorized shares of $8 par common stock issued 30,000 shares at $12.…
A: Retained earnings are the earning which is not distributed among shareholders in the form of…
Q: As a stockholder of Bozo Oil Company, you receive its annual report. In the financial statements,…
A: Earnings per share refer to the net income earned per share outstanding of the company. A Price…
Q: During its first year of operations, Cullumber Corporation had these transactions pertaining to its…
A: The Accounting Equation is calculated using the following equation -Assets = Liabilities +…
Q: Junkyard Arts, Inc., had earnings of $172,300 for the year. The company had 23,000 shares of common…
A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…
Q: For a recent 2-year period, the balance sheet of Santana Dotson Company showed the following…
A: Par Value Of The Common Stock = (Value Of Common Stock / Number Of Common Stock Issued)Cost Per…
Q: Kelley Company reports $960,000 of net income and declares $120,000 of cash dividends on its…
A: Net Income is the total Income earned by the company out of their Investments. Earning Per Shares is…
Q: Ecker Company reports $1,800,000 of net income and declares $252,000 of cash dividends on its…
A: Basic earnings per share = Net income available to common stockholders / Weighted average shares of…
Q: At the end of the prior annual reporting period, Barnard Corporation's balance sheet showed the…
A: Lets understand the basics.Stockholders Equity consist of the share which the shareholders has…
Q: A company with 94,000 authorized shares of $7 par common stock issued 36,000 shares at $16.…
A: Given that: Issued common shares = 36,000 shares Market price per share = $32 per share
Q: Computing earnings per share HEB Corporation had net income for 2018 of $60,450. HEB had 15,500…
A: Earnings per share: Earnings per share represent the amount of income earned per share of…
Q: During its first year of operations, Bridgeport Corporation had the following transactions…
A: Lets understand the basics.Journal entry is required to make to record event and transaction happens…
Q: Martinez Corp. is authorized to issue both preferred and common stock. The par value of the…
A: The cash received in excess of the par value of shares is reported as Additional paid-in capital or…
Q: At December 31, the records of Seacrest Enterprises provided the following selected and incomplete…
A: Common stock represents ownership in a company and constitutes a form of equity ownership. When…
Q: Throughout the year, Baker Construction Company had3 million shares of common stock and 150,000…
A: Convertible preference share are those preferences shares which carry a right to be converted into…
Q: A company had the following stockholders' equity information available at year-end: - Reported…
A: Earnings per share on common stock: It is a financial ratio. It is calculated by dividing net…
Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…
A: Cumulative Preferred Stock :— It is a type of preferred stock in which any past arrear of dividend…
Q: Weighted Average Shares Howard Corporation had 10,000 shares of common stock outstanding at the…
A: Lets understand the basics.During the year number of shares outstanding are not same. Due to…
Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…
A: working note PREFERED DIVIDEND = 1,000 *100*9%=$9000
Q: 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be
A: Requirement:-1-a Shares issued =Common stock account balance /par value per share
Q: On January 1, Pharoah Company had 64,500 shares of no-par common stock issued and outstanding. The…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: PickApart Arts, Inc., had earnings of $565,300 for the year. The company had 55,000 shares of common…
A: Preferred dividend = No. Od preferred stock x dividend per share = 23000 shares x $2.10 per share =…
Q: The following information was taken from the financial statements of Zeil Inc. for December 31 of…
A: The ratio analysis is done to analyse the different financial statements of the business. The…
Q: Clair, Inc reports net income of $700,000. It declares and pays dividends of $100,000 for the year,…
A: Given that, Net income = $700000 Preference dividend = $50000 Common stock dividend = $50000 The…
Q: Windsor, Inc. has 46,000 shares of $10 par value common stock outstanding. It declares a 13% stock…
A: Number of shares issued as stock dividend = 46,000 shares x 13% = 5,980 shares
Q: At the end of the prior annual reporting period, Barnard Corporation's balance sheet showed the…
A: Statement of stockholders' equity is one of the financial statements that shows change in amount of…
Q: A company had stock outstanding as follows during each of its first three years of operations: 2,000…
A: Preference Stock: These are the shares that earn a fixed rate of dividend on the number of shares…
Q: Prepare journal entries for each of the following transactions
A: 1. When the dividend is declared on shares then its liability needs to be recognized in the books.…
Q: Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15%…
A: Dividend :- This can be best understood with the help of an illustration. A person with surplus…
Q: The following information was extracted from the records of Cascade were completed: Common stock…
A: The retained earnings at year end is transferred to stockholders' equity section. The dividend is…
Q: Crane Jewelers management announced that the company had net earnings of $4,356,000 for this year.…
A: Given: Net earnings = $4,356,000 Shares outstanding = $1,613,000 Stock price = $ 68.91
Q: On January 1, Pharoah Company had 87000 shares of $10 par value common stock outstanding. On May 7,…
A: Additional stocks issued to existing common stockholders with no distribution of entity's…
Q: A company had stock outstanding as follows during each of its first three years of operations: 4,000…
A: Solution: Computation of dividend per share to Preferred and common shareholders Year Total…
Q: A company with 95,000 authorized shares of $7 par common stock issued 42,000 shares at $16.…
A: Dividends are calculated on Issued Shares fully paid up.In the given problem, Issued and fully paid…
Q: The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2,…
A: The stock dividend is declared and paid to the shareholders from the retained earnings of the…
Q: The following information was drawn from the accounting records of Silverburg Company. (Round your…
A: Earning per share = Net income available for equity shareholders / average number of shares…
Q: On January 1, Marigold Corp. had 54,800 shares of no-par common stock issued and outstanding. The…
A: The Dividend is payable on the total number of outstanding shares issued by the company Not on the…
Q: EPS Junkyard Arts, Inc., had earnings of $316,000 for the year. The company had 30,000 shares of…
A: Earnings per share: Earnings per share represent the amount of income earned per share of…
Q: Pharoah Jewelers management announced that the company had net earnings of $8,107,000 for this year.…
A: Earnings per share is calculated by dividing the net earnings by the outstanding shares.
Q: PickApart Arts, Inc., had earnings of $565,300 for the year. The company had 55,000 shares of common…
A: The earnings per share is calculated as net income available to common shareholders divided by…
Q: Junkyard Arts, Inc., had earnings of $174,300 for the year. The company had 24,000 shares of common…
A: Earnings per share refers to the amount earned by each stockholder. This can be identified by…
Q: On January 1, the company had 150,000 common shares outstanding. During the year, the following…
A: On January 1, the company had 150,000 common shares outstanding. During the year, the following…
Step by step
Solved in 2 steps
- Smith Inc. has announced net earnings of $877,500 for this year. The company has 325,660 shares outstanding, and the year-end stock price is $50.48. What are the company’s earnings per share and P/E ratio? a. EPS: $2.69; P/E: 18.77 times b. EPS: $0.37; P/E: 18.77 times c. EPS: $0.37; P/E: 10.55 times d. EPS: $2.69; P/E: 10.55 timesPresented below is information related to a company at the beginning of the year: Common Stock, $10 par $6,700 Retained Earnings 4,700 During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders' equity after the treasury stock transaction, assuming the company accounts for treasury stock under the cost method?A company whose stock is trading at $10 per share has 1,000 shares of $1 par common stock outstanding when the board of directors declares a 30% common stock dividend. Which of the following adjustments should be made when recording the stock dividend? O Retained earnings is debited for $300. O Common stock is debited for $3,000. O Additional paid-in capital is credited for $2,700. O Treasury stock is debited for $300.
- At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? issue price $9 per share. Shares held as treasury stock, 11,600 shares, cost $7 per share.. Net income for the current year, $410,720. Common Stock account, $144,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $740,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share…Ecker Company reports $1,400,000 of net income and declares $196,000 of cash dividends on its preferred stock for the year. At year- end, the company had 350,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic earnings per share (EPS)? Basic Earnings per Share Choose Numerator: Choose Denominator: Basic Earnings per Share Basic earnings per shareA company with 100,000 authorized shares of $6 par common stock issued 35,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $22 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
- Weighted Average Shares At the beginning of the current year, Hardin Company had 20,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock, so that at year-end it had 63,800 shares outstanding: Apr. 1 Issued 5,000 shares of stock. June 1 Issued 4,000 shares of stock. July 1 Issued a 10% stock dividend. Sept. 30 Issued a 2-for-1 stock split, reducing the par value to $5 per share. Oct. 1 Reacquired 1,000 shares as treasury stock. Nov. 30 Reissued the 1,000 shares of treasury stock. Required: Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number.On January 1, Pharoah Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 23,000 additional shares of common stock for $17 per share. June 15 July 10 Dec. (a) 1 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $2.90 per share to stockholders of record on December 31. Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit CreditA company had stock outstanding as follows during each of its first three years of operations: 1,000 shares of 8%, $100 par, cumulative preferred stock and 43,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. If your answer is zero, please enter "0". Preferred Common Year Dividends Total Per Share Total Per Share 1 $6,000 $ $ $ $ 2 8,000 $ $ $ $ 3 15,680 $ $ $ $
- A company had stock outstanding as follows during each of its first three years of operations: 1,000 shares of 10%, $100 par, cumulative preferred stock and 54,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. If your answer is zero, please enter "0". Year 1 2 3 Dividends $7,500 10,000 39,080 Total Preferred $ Per Share Total Common Per ShareOn January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it had the following transactions that affected the common stock account. April 1 Acquired 64,000 shares of treasury stock July 1 Issued a 20% stock dividend October 1 Issued a 4-for-1 stock split What is the weighted-average number of shares outstanding as of December 31, 2021?The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18. Required What is the par value per share of the preferred stock? What is the dividend per share on the preferred stock? What is the number of common stock shares outstanding? What was the average issue price per share (price for which the stock was issued) of the common stock? If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 5% cumulative, 160,000 shares…
