Question 83 ptsAt December 31, 2020 Houston Company had 400,000 shares of common stock and10,000 shares of 6%, $100 par value preferred stock outstanding. On January 2, 2021,Houston declared a 100% stock dividend on its common stock. The company paid$100,000 in cash dividends in 2021. Net income for 2021 was $2,000,000. What isHouston's 2021 basic earnings per share?O $4.85$2.50$5.00O $2.43None of the other answers

Step 1:Calculate the preferred dividendsStep 2:Calculate the weighted average number of common…

Answered: Question 8 3 pts At December 31, 2020…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

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Chapter1: Financial Statements And Business Decisions

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%24 %24 %4 View Policies Current Attempt in Progress Metlock Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 42,000 shares of $5 par value preferred stock and 490,000 shares of $1 par value common stock. At December 31, the company declared the following Cash dividends: 2020 (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and not cumulative. Preferred 2019 2020 e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in crder This part will be available when you complete the part above. sessment-player/index.html7launchld3ee163b88-e.
Problem 15-06 Sheffield Company has the following stockholders’ equity accounts at December 31, 2020. Common Stock ($100 par value, authorized 8,700 shares) $502,800 Retained Earnings 277,400 Prepare entries in journal form to record the following transactions, which took place during 2021 (1) 260 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) (2) A $20 per share cash dividend was declared. (3) The dividend declared in (2) above was paid. (4) The treasury shares purchased in (1) above were resold at $103 per share. (5) 480 shares of outstanding stock were purchased at $106 per share. (6) 370 of the shares purchased in (5) above were resold at $96 per share.
Question 40 On July 1, 2022, BFAR Corp. declared and issued 25% share dividend to its ordinary shareholders. Before the issuance of the said shares, the company had 28,000 shares of P13 par value ordinary shares that were both issued and outstanding. The fair market value of each share is P20. How much was credited to the Ordinary Share Capital upon issuance of the share dividend?
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Question 6 Melay company had 150,000 equity shares in issue on January 1, 20B. On July 1, 20B it issued 30,000 new shares by way of a 1 for 5 bonus. On October 1, 20B, the entity issued 42,000 new shares for cash at full market price. When calculating basic earnings per share, how many shares should be divided into the profit after tax? CHOICES: 150,000 175,500 222,000 190,500
Q.35 Smith corp net income for the year 2019=P1,000,000 Declared and paid preferred stock dividends=P300,000 During the year 2019, Smith corp had a weighted average of 180,000 common shares outstanding. With the information given above calculate 2019 earnings per share.
Question 12 of 14 View Policies Current Attempt in Progress Blue Corporation earned net income of $402.040 in 2025 and had 95,000 shares of common stock outstanding throughout the year. Also outstanding all year was $850,000 of 5% bonds, which are convertible into 16,000 shares of common. Blue's tax rate is 30 percent. Compute Blue's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55) Diluted earnings per share < eTextbook and Media Save for Later $
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Problem 1 Burlington Corp. has a single class of shares. At its year end December 31, 2020, the company had 5,000,000 ordinary shares issued and outstanding. On the stock exchange, these shares were trading at around $7. In the company's accounts, these shares had a value of $50,000,000. The equity accounts also show $650,000 of contributed surplus from previous repurchases of shares as well as $30.000,000 of Retained Earnings. On January 15, 2021, Burlington repurchased and cancelled 250,000 shares at a cost of $7 per share. On August 20, 2021 the company repurchased and cancelled a further 475,000 shares at a cost of $14 per share. Required: Record the journal entries for the two share transactions in 2021.

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