On September 1, 2023, Pin acquires all of Skin's shares, by issuing 15,000 shares of common stock. The followinginformation is related to Pin & Skin at December 31, 2023.2023a. $9.0O b. $8.0c. $10.0@d. $7.0 xPin$420,000Skin$150,000Net Income evenly distributed duringthe year60.00020,000# of outstanding sharesCalculate the consolidated earnings per share (EPS) for the year ended December 31, 2023.

The holding company is a parent company — usually a corporation or LLC — that is created to buy and…

Answered: On September 1, 2023. Pin acquires all…

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, 2020, Chen Company acquired 10,000 shares of GHI Corporation for P600, 000. GHI Corporation has the following equity account on January 1, 2020. 10% Non-Cumulative Preference Shares, par value P100; Authorized shares, 100,000; Issued and outstanding, 50,000 shares - P 5,000,000 Ordinary Shares, P50 par value; Authorized shares, 500,000; Issued and outstanding, 75,000 shares Retained Earnings - 25,000,000 - 10,000,000 On January 1, 2021, Chen acquired an additional 5,000 shares of GHI Corporation for P300, 000. The acquisition resulted in 20% ownership, which is considered significant since Chen was able to get a seat in the board of directors of GHI Corporation. GHI Corporation has the following fair values of its shares as follows: 2020 - P65 per share 2021 - P72 per share GHI Corporation reported the following at year-end: Net Income Dividends 2020 2021 P5,000,000 6,500,000 P2,000,000 3,000,000 Requirements: 1. Prepare the necessary journal entries to record the above…
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The following information is available for Splish Brothers Inc. and Novak Corp.: Splish Brothers Inc. Novak Corp. (in millions) 2022 2021 2022 2021 Preferred dividends 22 9 27 Net income 545 475 515 565 Shares outstanding at the end of the 215 175 160 195 year Shares outstanding at the beginning of 175 160 195 215 the year Based on this information, what is the amount of Splish Brothers Inc. earnings per share (rounded to two decimals) for 2022? O $ 1.50 O $ 1.34 O $ 2.94 O $ 2.68
The Derby Shoe Company produces its famous shoe, the Divine Loafer, that sells for $70 per pair. Operating income for 2017 is as follows: Sales revenue ($70 per pair) $350,000 Variable cost ($30 per pair) 150,000 Contribution margin 200,000 Fixed cost 100,000 Operating income $100,000 Derby Shoe Company would like to increase its profitability over the next year by at least 25%. Q.Replace a portion of its variable labor with an automated machining process. This would result in a 20% decrease in variable cost per unit but a 15% increase in fixed costs. Sales would remain the same. Q2. Spend $25,000 on a new advertising campaign, which would increase sales by 10%. Evaluate each of the alternatives considered by Derby Shoes. Do any of the options meet or exceed Derby’s targeted increase in income of 25%? What should Derby do?
11
G.Swifty Corporation was organized on January 1, 2020, with authorized capital of 1060000 shares of $10 par value common stock. During 2020, Swifty issued 55000 shares at $11 per share, purchased 5500 shares of treasury stock at $12 per share, and sold 5500 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020? O $55000 O $0 O $66000 O $11000
ESPAÑOL INGLÉS FRANCÉS ABC Corporation has an investment of 4,000,000 shares in XYZ Corporation. On December 31, 2021, ABC distributes, to its shareholders, the shares of XYZ in the form of a dividend. This dividend must be recorded in ABC's books for to. the market value of XYZ stock. b. the market value of ABC shares. С. the book value of XYZ stock. Enviar come MacBook Air
Problem 1 Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2023 to 2025. At December 31, 2022, the corporation's accounts included (in thousands): Ordinary share capital, P1 par Share premium 105,000 630,000 Retained earnings 970,000 a. On November 1, 2023, the board of directors declared a cash dividend of PO 80 per share on its ordinary shares, payable to shareholders of record on November 15, to be paid on December 1. b. On March 1, 2024, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Ricki was holding as an investment. The bonds had a fair value of P1.6 million, but were purchased two years previously for P1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record on March 13, to be distributed on April 5. The fair value of the…

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