Oriole Corporation had 100,800 shares of stock outstanding on January 1, 2025. On May 1, 2025, Oriole issued 61,200 shares. OnJuly 1, Oriole purchased 10,080 treasury shares, which were reissued on October 1.Compute Oriole's weighted-average number of shares outstanding for 2025.Weighted-average number of shares outstanding

Weighted-average number of shares outstanding meaning:- The weighted average number of shares…

Answered: Oriole Corporation had 100,800 shares…

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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Blue Spruce Limited reported profit of $472,686 for its November 30, 2024, year end. Cash dividends of $63,700 on the common shares and $60,000 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Blue Spruce's common shares: Dec. 1, 2023 Feb. 28, 2024 The opening number of common shares was 55,100. Sold 8,800 common shares for $220,000 cash. May 31, 2024 Nov. 1, 2024 Reacquired 4,400 common shares for $101,200 cash. Issued 13,200 common shares in exchange for land with a fair value of $280,000. (a) Question Part Score (b) Calculate the weighted average number of common shares for the year. Weighted average number of shares 2/2
Springer Company was incorporated on January 1, 2022, at which time 500,000 shares of $1 par value common stock were authorized, and 210,000 of these shares were issued for $9 per share. Net income for the year ended December 31, 2022, was $1,900,000. Springer Company's board of directors declared dividends of $1.40 per share of common stock on December 31, 2022, payable on January 27, 2023. The entry to record the payment of dividends on January 27, 2023 is: Multiple Choice O Debit Credit Debit Credit Debit Credit Debit Credit Retained Earnings Dividends Payable Cash Dividends Payable Retained Earnings Cash Dividends Payable Cash 294,000 294,000 294,000 294,000 294,000 294,000 294,000 294,000
In 2025, Bramble Corporation reported net income of $1,130,450. It declared and paid preferred stock dividends of $272,300. During 2025, Bramble had a weighted average of 190,700 common shares outstanding. Compute Bramble's 2025 earnings per share. (Round earnings per share to 2 decimal places, e.g. 1.48.) Bramble's 2025 earnings per share $
Oriole Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,950 shares of $50 par value preferred stock and 105,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,000; 2022, $13,900; and 2023, $27,000.
Whispering Inc. had net income for the current year ending December 31, 2023 of $1,063,260. During the entire year, there were 501,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 12,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 107,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Whispering had outstanding a $1,000,000, 7% bond issued at par in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued at par in 2013 that was convertible to 26,000 common shares. No dividends were declared or paid this year. Whispering's tax rate is 37%. (a) Calculate the income effect of the dividends for the Class A preferred shares. (b) Your answer is correct. Dividends on Class A preferred shares $ (c) eTextbook and Media Your answer is…
On December 31, 2023, Berclair Incorporated had 280 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $350 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024.
Richman Company had 100,000 shares of common stock outstanding as of January 1, 2020. The following common stock transactions occurred during 2020. March 1—Issued 20,000 shares for cash. June 1—Issued a 10% stock dividend. September 1—Reacquired 10,000 shares as treasury shares. November 1—Sold the 10,000 treasury shares for cash. Instructions: Compute the weighted-average common shares for 2020.
At the beginning of 2023, Valero Energy had 300,000 shares of $5 par value Common Stock outstanding. On August 1, Valero issued another 150,000 shares. Valero's 2023 Net Income was $637,500. In addition, you are given the following portion of the Company's 12/31/2023 Stockholders' Equity section of its Balance Sheet: Preferred Stock (5%, $10 par, 90,000 shares issued and outstanding) $900,000 Calculate Valero Energy's Earnings per Share for 2023 (round to the nearest cent). Select one: O O O a. $1.72 b. $1.63 c. $1.32 d. $1.42 e. $1.76
Buffalo Limited has the following information available regarding its share capital at December 31, 2020: Preferred shares, $3.50 cumulative, 18,700 shares issued $935,000 Preferred shares, $4.50 noncumulative, 14,800 shares issued 740,000 Common shares, 296,000 shares issued 1,480,000 The shares were issued when the corporation began operations on January 1, 2019. No dividends were declared during 2019 and 2020. On October 30, 2021, the board of directors declares the required preferred share dividends and a $0.50 dividend for each of the common shares. The dividends are payable on December 1, 2021, to the shareholders of record on November 16, 2021. How much will be paid to each class of shares? Cumulative preferred shares $enter a dollar amount Noncumulative preferred shares $enter a dollar amount Common shares $enter a dollar amount Prepare journal entries on the appropriate dates…
On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000 shares are held as treasury stock. The stock has a stated value of$5per share. During the year, the following occurred. Apr.1 issued 10,000 additional shares of common stock for$16per share. June 15 Declared a cash dividend of$1per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Purchased 1,800 additional shares of common stock for$15per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.30 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dividend dates (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 0 for the amounts, List all debit entries before credit entries.
On January 1, 2026, Sheridan Corp. had 491,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. February 1 March 1 May 1 June 1 October 1 (a) Issued 116,000 shares Issued a 10% stock dividend Acquired 96,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 59,000 shares of treasury stock Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding
Schaefer Co. reported net income of $191,150 for its fiscal year ended January 31, 2023. At the beginning of that fiscal year, 50,000 shares of common stock were outstanding. On October 31, 2022, an additional 15,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 20,000 shares of 6%, $50 par value preferred stock that were outstanding the entire year. Required: a. Calculate basic earnings per share of common stock for the year ended January 31, 2023.

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