Answered: ral years Orion Incorporated has…

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ral years Orion Incorporated has followed a policy of paying a cash dividend of $0.40 per share and having a 6%

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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Texas, Inc. has net income for 2019 of $555,000. At January 1, 2019, the company had outstanding 54,000 shares of $75 par value common stock and 10,000 shares of 6%, $150 par value cumulative preferred stock. On September 1, 2019, an additional 18,000 shares of common stock were issued. What is the earnings per share for 2019 (to the nearest cent)? Select one: O O O A. $6.47 B. $9.26 C. $7.75 D. $6.66
Could you please solve the question for the investment in BI.
Listed here are data for five companies. These data are for the companies' 2019 fiscal years. The market price per share is the closing price of the companies' stock the day after they announced their 2019 earnings. Except for market price per share, all amounts are in millions. The shares outstanding number is the weighted-average number of shares the company used to compute basic earnings per share. Note that the numbers for Mountainview Investments are significantly different that the other companies. For example, the number for its shares outstanding includes a decimal, not a comma. Its shares outstanding are about are 1.6 million, not 1.6 billion. Company Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated Ringer Corporation Net Earnings $12,495 82,355 15,280 8,255 6,088 Company Stockholders' Shares Market Price Equity Outstanding per Share $62,998 1,415 $2,006.00 429,386 1.652 Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated Ringer Corporation 199,674…
Compute basic earnings per share for 2021 Compute the diluted earnings per share for 2021
he financial statements of Friendly Fashions include the following selected data (in millions): ($ in millions except share data) 2021 2020 Sales $ 9,343 $ 10,434 Net income $ 230 $ 748 Stockholders' equity $ 1,760 $ 2,240 Average Shares outstanding (in millions) 640 - Dividends per share $ 0.33 - Stock price $ 8.10 - Required:Calculate the following ratios for Friendly Fashions in 2021. (Enter your Dividend yield and Price-earning ratio values to 2 decimal places. Enter your answers in millions (i.e. 5,500,000 should be entered as 5.5).)
The following information pertains to BFAR Corp. for the year ended December 31, 2021: . Accumulated Profits Free, January 1, 2021: P3,800,000 . Accumulated Profits - Appropriated for contingency, January 1, 2021: P700,000 . Net income for 2021: P2,347,000 . Share dividends declared November 25, 2021 and distributed on December 15, 2021: P370,000 . Cash dividends declared December 1, 2021 and distributable on January 15, 2022: P490,000 Appropriation of accumulated profits for contractual obligations in 2021: P1,500,000 . Reversal of appropriation for contingency in 2021: P700,000 How much is the total Accumulated Profits as of December 31, 2021? .
The income statement of PNE Inc. in 2022 reflects a net Income of P2,050,000. The dividend policy of the company is to pay an annual cash dividend of P2 per share to common stock regardless of the market price of the share. If the dividend yield determined for the last day of 2022 is 20%, how much is the fair value of the share? (per share)
Based on the below information prepare a statement of shareholders' equity in a proper format for Rams Ltd. for the year ended December 31, 2020. Rams Ltd. reported the following balances at January 1, 2020: Common shares. $370,000 Preferred shares. 74,000 Contributed surplus 65,000 Retained earnings.. 70,000 Accumulated other comprehensive income. 71,000 Rams' corporate tax rate 31.5% During the year, Rams performed the following: 1. The cumulative effect of the change from straight-line to accelerated depreciation resulted in a reduction to retained earnings of $35,000, before tax. 2. Issued common shares for a proceed of $73,000. 3. Retired 25% of preferred shares outstanding. 4. Earned net income of $496,000 and, 5. Generated other comprehensive income of $22,000. 6. Declared total dividend of $198,400. Prepare a statement of shareholders' equity in a proper format for Rams Ltd. for the year ended December 31, 2020.
The board of directors of Wayne Co. declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The effects of the journal entry to record the payment of the dividend on August 15, 2020, are to decrease liabilities and decrease assets. increase stockholders' equity and decrease assets. decrease stockholders' equity and decrease liabilities. increase stockholders' equity and increase liabilities.
Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 3,000 shares of stock, resulting in 12,000 shares outstanding at year-end. During 2020, Lucas earned net income of $16,400. It issued 2,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 28,000 shares outstanding at year-end. During 2021, Lucas earned net income of $23,520. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021. Compute the 2019, 2020, and 2021 comparative basic earnings per share that would be disclosed in the 2021 annual report.
The following activities relate to Merrill Company during the years 2018 and 2019: 2018: Feb. 15 Merrill purchased 10,000 shares of Hendershot Equipment stock for $40 per share. Dec. 1 Merrill received an $0.80-per-share cash dividend from Hendershot Equipment. Dec. 31 Hendershot Equipment common stock had a closing market price of $97 per share. Hendershot’s 2018 net income was $120,000. 2019: July 1 Merrill sold all 10,000 shares of Hendershot Equipment stock for $42 per share. Additional information: Hendershot Equipment had 50,000 shares of common stock outstanding on January 1, 2018. Required: Prepare journal entries to record the transactions assuming: a.) The securities are classified as FVTOCI financial assets-equity. b.)The equity method is used. Show the amounts that would be reported on the financial statements of Merrill Company at December 31, 2018, under each assumption. Can Merrill use the equity method to account for its investment in Hendershot Equipment?
Accounting NEED ASAP PLEASE AND THANK U! Sheridan Company had 219,600 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Sheridan Company reported net income of $265,000 after a loss from discontinued operations of $43,200 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to 2 decimal places, e.g. $2.55.) Sheridan Company Income Statement December 31, 2022