For the year ended December 31, 2021, Norstar Industries reported net income of $990,000. At January 1, 2021, the company had1,170,000 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

Net income at December 31,2021 = $990,000 At January 1,2021 Outstanding common shares = 1,170,000

Answered: O common shares outstanding. The…

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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Use the following information for the next three questions: The shareholders' equity of QUALM MISGIVING Co. as of year- end consisted of the following: 10% Preference share, cumulative, fully participating, P400 par, 20,000 shares 8% Preference share, noncumulative, fully participating, 8,000,000 P320 par, 2,500 shares 800,000 Ordinary share, P40 par, 100,000 shares issued and outstanding 4,000,000
3. Bungy Dive Inc. has 80,000 shares of $35 par common stock outstanding. On June 8, Bungy declared a 5% stock dividend to be issued August 12 to Stockholders of record on July 13. The market price of the stock was $63 per share on June 8. Required: Journalize the entries required on June 8, July 13, and August 12.
on the preference shares. The net income for the current 1. What amount should be reported as basic earnings per issued 500,000 preference shares which were convertible into 2,000,000 ordinary shares outstanding. On July 1, the entity Problem 20-14 (IAA) During the year, the entity declared and paid P1,000,000 cash dividend on the ordinary shares and P800,000 cash dividend A the beginning of current year, Frown Company had S000,000 ordinary shares outstanding. On July 1, the entity 300,000 ordinary shares. Year was P6,500,000. share? a. 2.85 b. 3.25 С. 2.35 d. 2.25 per share? а. 2.85 b. 3.02 с. 2.83 d. 1.75 633
Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, type "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $84 to $28 per share. After the split, there were 108,000 common shares outstanding. 88 Jan. 8 Apr. 30. Declared semiannual dividends of $1.40 on 8,000 shares of preferred stock and $0.10 on the common stock payable on July 1. Apг. 30 July 1. Paid the cash dividends. July 1 Oct. 31. Declared semiannual dividends of $1.40 on the preferred stock and $0.09 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50.
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(R) please answer asap.. The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock’s per share market value on April 2 is $10 (prior to the dividend). Common stock—$5 par value, 555,000 sharesauthorized, 290,000 shares issued and outstanding$ 1,450,000Paid-in capital in excess of par value, common stock670,000Retained earnings923,000Total stockholders' equity$ 3,043,000Prepare the stockholders’ equity section immediately after the stock dividend is distributed.
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Current Attempt in Progress On January 1, Ivanhoe Corporation had 91,000 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 21,000 additional shares of common stock for $17 per share. June 15 July 10 Dec. 1 (a) 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,500 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $2.30 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 0 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 Credit
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use attachment to answer the following Basic earnings per share for 2006 was: a) $3.08 b) $3.50 c) $3.16 d) $3.00
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