On January 1, 2023, Sunland Ltd. had 498,000 common shares outstanding. During 2023, it had the following transactions thataffected the common share account:Feb. 1Mar. 1May 1June 1Oct. 1Issued 180,000 sharesIssued a 10% stock dividendAcquired 195,000 common shares and retired themIssued a 2-for-1 stock splitIssued 74,000 sharesThe company's year end is December 31.Determine the weighted average number of shares outstanding as at December 31, 2023. (Round answer to 0 decimal places, e.g.5,275.)Weighted average number of shares outstandingeTextbook and MediaAssume that Sunland earned net income of $3,164,460 during 2023. In addition, it had 110,000 of 8%, $100 par, non-convertible,non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did notdeclare and pay a preferred dividend in 2023.Calculate earnings per share for 2023, using the weighted average number of shares determined above. (Round answer to 2decimal places, e.g. 15.25.)Earnings per share $eTextbook and MediaAssume that Sunland earned net income of $3,164,460 during 2023. In addition, it had 110,000 of 8%, $100 par, non-convertible,cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did notdeclare and pay a preferred dividend in 2023.Calculate earnings per share for 2023 using the weighted average number of shares determined above. (Round answer to 2 decimalplaces, e.g. 15.25.)Earnings per share$eTextbook and Media1565600 sharesAssume that Sunland earned net income of $3,164,460 during 2023. In addition, it had 110,000 of 8%, $100 par, non-convertible,non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did notdeclare and pay a preferred dividend in 2023. Assume that net income included a loss from discontinued operations of $121,710,net of applicable income tax.Calculate earnings per share for 2023. (Round answers to 2 decimal places, eg. 15.25. Enter negative amounts using either a negativesign preceding the number eg. -45 or parentheses e.g. (45).)Income from continuing operations $Loss from discontinued operationsNet income$Earnings per share

"Since you have asked a question with sub-parts more than three, as per guidelines, the first three…

Answered: On January 1, 2023, Sunland Ltd. had…

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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On January 1, 2021, Nash Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 (a) Issued 125,000 shares Issued a 10% stock dividend Acquired 97,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock * Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 123083
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/
Fuerman Incorporated had the following common stock record during the current calendar year Outstanding, beginning of year Additional shares issued 6/30 2,850,000 230,000 Additional shares issued 9/30 230,000 A 12% stock dividend was paid on December 1. What is the number of shares to be used in computing basic EPS? Multiple Choice 3,320,800 3,022,500 3,449,600 3,385,200
On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021.
Tiger Corp. provides the following data for calendar 2022 Net Income... $ 3,600,000 Transactions in Common Shares Change Cumulative Jan 1 beginning 1,400,000 Mar 1 purchase of treasury shares (80,000) 1.320,000 Jun 1 shares split 2 for 1 1,320,000 2,640,000 Nov 1 issuance of new shares 160,000 2,800,000 Instructions Calculate basic earnings per share for 2022.
On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances: Common shares (par value $ 50: 50,000 issued) $ 2,500,000 Capital contributed in excess of par value 600,000 Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000
On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021 in the excel file.
A3
Post these transaction to T account .
On January 1, 2022, Metro Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 250,000 shares issued 250,000 Additional paid-in capital, common 500,000 Additional paid-in capital, preferred 100,000 Preferred stock, $100 par, 10,000 shares issued 1,000,000 Retained earnings 2,000,000 Treasury stock, at cost, 5,000 common shares 25,000 During 2022, Metro Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Denver Company (book value $10 per share, fair value $9 per share). February 17: Distributed the property dividend. July 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. 1) Prepare the journal entry (ies) for…
The following stockholders' equity accounts arranged alphabetically are in the ledger of Concord Corporation at December 31, 2022. Common Stock ($7 stated value) Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock (8%, $55 par) Retained Earnings Treasury Stock (10,000 common shares) 4: eTextbook and Media List of Accounts Save for Later + Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) + $2,793,000 ◆ 11,000 675,000 159,000 880,000 1,748,000 130,000 CONCORD CORPORATION Balance Sheet (Partial) $ $ Attempts: 0 of 3 used $ Submit Answer
On January 1, 2021, Wilke Corp. had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the common stock account. February 1 1Issued 120,000 shares March 1 1Issued a 10% stock dividend May 1 1Acquired 100,000 shares of treasury stock June 1 1Issued a 3-for-1 stock split October 1 1Reissued 60,000 shares of treasury stock Instructions a. Determine the weighted-average number of shares outstanding as of December 31, 2021. b. Assume that Wilke Corp. earned net income of $3,456,000 during 2021. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). c. Assume the same facts as in part (b), except that the preferred stock…

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