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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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 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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Find the Return on Stockholders equity Find the Return on common stockholders equity
Problem 4 On December 29, 2018, Blue Company was registered at the Securities and Exchange Commission with 100,00 authorized shares of P100 par value. The following were Blue's transactions: December 29, 2018 May 14, 2019 August 9, 2019 December 31, 2019 Issued 40,000 shares at P105 per share. Purchased 600 of its ordinary shares at P110 per share. 400 treasury shares were resold at P95 per share. Profit for 2019 is P830,000. Dividends paid P200,000. 34. What is the total outstanding shares? 35. What is the balance of treasury shares? 36. How many shares are entitled to receive dividends? 37. What is the total shareholders' equity? Problem 5 Partners A & B have capital balances of P600,000 and P400,000 and share profits and losses in the ratio of 3:2, respectively, before the admission of C. With the consent of B, A sells one-half of his equity to C, with C paying A the amount of P350,000. 38. What is A's capital balance after the admission of C? 39. What is the total partnership…
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Brief Exercise 10-50Preferred and Common Stock Dividends Brookshed Corporation has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the corporation to pay an annual dividend of $11,000 to preferred stockholders. On January 1, 2019, Brookshed's preferred dividends were 1 year in arrears, which means that Brookshed declared neither preferred nor common dividends in 2018. During the next 3 years (2019–2021), Brookshed's board of directors determined they would be able to pay $17,000, $18,000, and $21,000, respectively. Required: Show how these anticipated payments will be split between preferred and common stockholders. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0".
Jones Corporation’s capital structure follows. December 31 2020 Outstanding shares of stock Common stock, outstanding shares 110,000 Convertible preferred stock, outstanding shares 10,000 8% Convertible bonds $1,000,000 During 2020, Jones declared and paid dividends of $3.00 per share on its preferred stock. The preferred shares are convertible into 20,000 shares of common stock. The 8% bonds are convertible into 30,000 shares of common stock. Net income for 2020 is $850,000. Assume that the income tax rate is 25%. a) Compute basic EPS for 2020. b) Compute diluted EPS for 2020. c) Prepare the bottom of the company’s income statement in proper form, beginning with the net income.

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