Mayan Company had net income of $33,480. The weighted-average common shares outstanding were 9,300. The company has no preferred stock. The company's earnings per share is: $3.66. $3.54. $5.00. $3.60. 1.42.
1a. Mayan Company had net income of $33,480. The weighted-average common shares outstanding were 9,300. The company has no
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$3.66.
$3.54.
$5.00.
$3.60.
1.42.
1b.Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 270 shares to its attorneys in payment of a $4,700 charge for drawing up the articles of incorporation. The entry to record this transaction would include:
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A debit to Organization Expenses for $2,700.
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A credit to Common Stock for $4,700.
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A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000.
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A debit to Organization Expenses for $4,700.
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A credit to Paid-in Capital in Excess of Par Value, Common Stock for $4,700.
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