On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9.
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- On December 31, 2020, Berclair Inc. had 250 million shares of common stock and 11 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 60 million shares of its common stock as treasury stock. Berclair issued a 6% common stock dividend on July 1, 2021. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $550 million. Also outstanding at December 31 were 54 million incentive stock options granted to key executives on September 13, 2016. The options were exercisable as of September 13, 2020, for 54 million common shares at an exercise price of $50 per share. During 2021, the market price of the common shares averaged $75 per share. The options were exercised on September 1, 2021. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (l.e., 10,000,000 should be entered as 10). Do not…On October 1, 2021 Chief Corporation declared and issued a 10% stock dividend. Before this date, Chief had 80,000 shares of $5 par common stock outstanding. Te of Chief Corporation on the date of desiaration was $10 per share. As a result of this dividend, Chief's retained earnings willOn 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
- Atlanta Co. has 100,000 common shares outstanding as of January 1, 2020 and after-tax net income of $300,000 for 2020. On March 31, 2020 Atlanta Co repurchased 5,000 shares of its outstanding common stock. On October 1, 2020, the company issues an additional 50,000 shares of common stock. On October 31, 2020 the company distributed a stock dividend of 40%. The company also has 20,000 shares of 4% $10 par cumulative preferred stock outstanding. Assume that 5,000 shares of the preferred stock have the option to be converted to 2,000 shares of common stock at any time. In 2019 Atlanta Co. issued stock options to its 2 top executives that allow them to each purchase up to 1,000 shares of common stock at a purchase price of $25 per share. The current market price of Atlanta Co common stock is $40 per share and Atlanta Co.’s income tax rate is 30%. Compute the Basic EPS___________________________ Compute Fully Diluted EPS_________________________ *UrgentOn December 31, 2020, Berclair Inc. had 420 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 36 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Six million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $700 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Numerator, Denominator Earnings per ShareOn 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, 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.On December 31, 2020, Berclair Inc. had 460 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $800 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)On October 1, 2024, Carla Vista Co. declared an annual cash dividend to preferred shareholders of $3 per share; at the time the dividend was declared, there were 2.500 preferred shares issued and outstanding. The date of record for the dividend was December 1 and the dividend was paid on December 31. On October 31, 2024 the company also declared a 3% stock dividend for common shareholders; at the time the stock dividend was deared the common shares were trading at $10 per share and Carla Vista had 22.000 commons shares issued and outstanding. The date of record was December 15 and the issuance date of the dividend was December 31. (a) Record any and all journal entries that occurred on each of the dates indicated above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts. List all debit entries before credit entries. Record journal entries in…
- 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?On January 1, 2022, NYC Co. had 1,191,000 shares of its $12 par value common stock outstanding. On March 1, NYC Co. sold an additional 2,382,000 shares for $48 per share. The company issued a 15% stock dividend on May 1. On August 1, NYC Co. repurchased 715,000 shares of its stock. On November 1, 1,072,500 shares were sold for $50 per share. What is the weighted- average number of shares outstanding for 2022? (NIE) 4,129,067 3,175,733 3,533,233 3,771,567On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 24,000 shares of common stock on the open market as treasury stock for $35 per share. Li-Wu sold 6,000 treasury shares on September 30, 2024, for $37 per share. Net income for 2024 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key executives the option to buy 50,000 common shares at $40. The market price of the common shares averaged $39 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Basic Diluted Earnings per share