On January 1, 2025, Blossom Corporation had 381000 shares of its $2 par value common stock outstanding. On March 1, Blossomsold an additional 756000 shares on the open market at $20 per share. Blossom issued a 20% stock dividend on May 1. On August 1,Blossom purchased 419000 shares and immediately retired the stock. On November 1, 610000 shares were sold for $25 per share.What is the weighted-average number of shares outstanding for 2025?O 1140283O 515045O 1555400O 718378

Jan 1st Outstanding shares = 381,000 Par value = $2 March 1 Sold = 756,000 Market price = $20 May 1…

Answered: On January 1, 2025, Blossom Corporation…

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, 2025, Wildhorse Corporation had 380000 shares of its $2 par value common stock outstanding. On March 1, Wildhorse sold an additional 760000 shares on the open market at $20 per share. Wildhorse issued a 20% stock dividend on May 1. On August 1, Wildhorse purchased 422000 shares and immediately retired the stock. On November 1, 603000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2025? O 517620 O 1140667 O 718620 O 1549000
On January 1, 2018, Tonge Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible into 30,000 common shares. On October 1, 2018, Tonge sold and issued an additional 20,000 shares of common stock at $36. At December 31, 2018, there were 28,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 28,000 shares of common stock at an exercise price of $30. The market price of the common stock at year-end was $48. During the year, the price of the common shares had averaged $40. Net income was $940,000. The tax rate for the year was 40%. Required: Compute basic and diluted EPS for the year ended December 31, 2018. (Enter your answers in thousands.) Basic Diluted Numerator 1 1 1 Denominator = Earnings per share =
On January 1, 2021, Sue Company had 3,000,000 shares of its common stockissued and outstanding. Sue issued a 10% stock dividend on July 1, 2021. OnOctober 1, 2021, Sue retired 120,000 of its common shares. When calculating basicearnings per share for 2021, what is the appropriate number of shares for Sue touse in the denominator of the EPS fraction?
Blossom Inc. had net income for the current year ending December 31, 2023 of $1.230,480. During the entire year, there were 506,000 common shares outstanding. The company had two classes of preferred shares outstanding the Class A preferred shares were $2.62 cumulative shares of which 10,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 102,000 $5.62 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Blossom had outstanding a $1,000,000, 8% bond issued in 2012 that was convertible to 21,000 common shares. The company also had outstanding a $1,000,000, 7% bond issued in 2013 that was convertible to 26,000 common shares. No dividends were declared or paid this year. Blossom's tax rate is 38%.
On January 1, 2018, Tonge Industries had outstanding 700,000 common shares ($1 par) that originally sold for $25 per share, and 5,000 shares of 10% cumulative preferred stock ($100 par), convertible into 50,000 common shares. On October 1, 2018, Tonge sold and issued an additional 12,000 shares of common stock at $37. At December 31, 2018, there were 22,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 22,000 shares of common stock at an exercise price of $34. The market price of the common stock at year-end was $52. During the year, the price of the common shares had averaged $44. Net income was $840,000. The tax rate for the year was 40%. Required: Compute basic and diluted EPS for the year ended December 31, 2018. (Enter your answers in thousands.) Basic Diluted $ $ Numerator Answer is complete but not entirely correct. 790,000/ 840,000 X Denominator 703,000 754,784 - S $ Earnings per share 1.12 1.11
Bonita Industries had 809000 shares of common stock outstanding on January 1, issued 126000 shares on May 1, purchased 63000 shares of treasury stock on September 1, and issued 60000 shares on November 1. The weighted average shares outstanding for the year is 903000. 861000. 924000. 882000.
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 December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 24,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2018, Jackson purchased 16,000 shares of common stock on the open market as treasury stock for $27 per share. Jackson sold 5,200 treasury shares on September 30, 2018, for $29 per share. Net income for 2018 was $172,905. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 42,000 common shares at $32. The market price of the common shares averaged $31 during 2018. Required: Compute Jackson's basic and diluted earnings per share for 2018. (Round your answers to 2 decimal places.)
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 24,000 shares of common stock on the open market as treasury stock paying $40 per share. Brisbane sold 6,000 treasury shares on September 30, 2021, for $45 per share. Net income for 2021 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 50,000 common shares at $40. The market price of the common shares averaged $50 during 2021. Compute Brisbane's basic and diluted earnings per share (rounded to 2 decimal places) for 2021.
Cole Company was formed on January 1, 2022, when 300,000 shares of $2 par value common stock were issued for $8 per share. Net income for 2022 was $150,000. Cash dividends of $0.25 per share were declared in December 2022 and paid in January 2023. The following occurred in 2023 :• April 1st, 10,000 treasury shares were purchased for $6 per share.• April 15th, 500 treasury shares were retired. • June 1st, 3,000 treasury shares were reissued for $7.50 per share .• November 1st, 4,000 treasury shares were reissued for $4 per share. • Net Income for 2023 was $200,000. • Cash dividends of $0.50 per share were declared in December 2023, payable in January 2024. Assuming Cole Company uses the cost method to account for treasury stock, prepare the stockholders’ equity section of the balance sheet at December 31, 2023. Also note how many shares of common stock were issued, outstanding, and treasury.
On January 1, 2019, ABC Corporation had 125,000 shares of its $2 par value ordinary shares outstanding. On March 1, ABC sold an additional 250,000 shares on the open market at $20 per share. ABC issued a 20% share dividend on May 1. On August 1, ABC purchased 140,000 shares and immediately retired the shares. On November 1, 200,000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2019?
The Li Group had 150,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are no potential common shares outstanding. 2024 February 28 Purchased 3,000 shares of treasury stock. October 31 Sold the treasury shares purchased on February 28. November 30 Issued 12,000 new shares. December 31 Net income for 2024 is $1,639,000. 2025 January 15 Declared and issued a 2-for-1 stock split. December 31 Net income for 2025 is $1,639,000. Required: 1. Determine the 2024 EPS. 2. Determine the 2025 EPS. 3. At what amount will the 2024 EPS be presented in the 2025 comparative financial statements? Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Denominator Earnings per Share 1. = 0 23 2. = 0 3. 0

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