On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 5 million shares of 9%, $100 par valuecumulative preferred stock issued and outstanding.• On March 1, 2024, Berclair purchased 136 million shares of its common stock as treasury stock.• Berclair issued a 5% common stock dividend on July 1, 2024.• Four million treasury shares were sold on October 1.• Net income for the year ended December 31, 2024, was $850 million.• Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019.• The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share.• During 2024, the market price of the common shares averaged $70 per share.Required:Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options andconversion of convertible securities have been adjusted for any stock split or stock dividend.)Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).BasicDilutedNumerator +0 ÷$÷Denominator=Earnings per Share0

Earning per ShareThe earnings of a corporation is divided by the number of existing shares of its…

Answered: Required: Compute Berclair's basic and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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Financial Statements from the End-of-Period Spreadsheet Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 20V9: Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,710 10,710 Accounts Receivable 25,500 25,500 Supplies 2,700 2,270 430 Land 22,190 22,190 Office Equipment 20,910 20,910 Accumulated Depreciation 2,830 1,350 4,180 Accounts Payable 6,890 6,890 Salaries Payable 330 330 Common Stock 8,600 8,600 Retained Earnings 17,410 17,410 Dividends 3,320 3,320 Fees Earned 70,770 70,770 Salary Expense 19,130 330 19,460 Supplies Expense 2,270 2,270 Depreciation Expense 1,350 1,350 Miscellaneous Expense 2,040 2,040 106,500 106,500 3,950 3,950 108,180 108,180 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting…
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D1. Account
Additional information for the year:1. Dividends declared and paid totaled $700.2. On January 1, 2020, convertible preferred stock that had originally been issued at par value was converted into 500 shares of common stock. The book value method was used to account for the conversion.3. Long-term nonmarketable investments that cost $1,600 were sold for $2,300.4. The long-term note payable was paid by issuing 250 shares of common stock at the beginning of the year.5. Equipment with a cost of $2,000 and a book value of $300 was sold for $100. The company uses one Accumulated Depreciation account for all depreciable assets.6. Equipment was purchased at a cost of $16,200.7. The 12% bonds payable were issued on August 31, 2020, at 97. They mature on August 31, 2025. The company uses the straight-line method to amortize the discount.8. Taxable income was less than pretax accounting income, resulting in a $696 increase in deferred taxes payable. Required: Prepare the complete statement of cash…
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Gonzales Corporation’s common stock (Ordinary Shares) account for 2023 and 2022 showed: (check the attached photo) Calculate the (A) dividend yield, and (B) dividend payout. Choose the bullet with correct answer (A) 2023 – 0.025, 2022 – 0.036, (B) 2023 – 0.23, 2022 – 0.30 (A) 2023 – 0.035, 2022 – 0.046, (B) 2023 – 0.33, 2022 – 0.40 (A) 2023 – 0.045, 2022 – 0.056, (B) 2023 – 0.43, 2022 – 0.50 (A) 2023 – 0.055, 2022 – 0.066, (B) 2023 – 0.53, 2022 – 0.60 (A) 2023 – 0.065, 2022 – 0.076, (B) 2023 – 0.63, 2022 – 0.70
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(b) Prepare the stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive information.) Buffalo Company Balance Sheet (in millions of dollars) (Partial) Paid-in Capital: Paid-in Capital Common Stock- Additional Paid-in Capital subt Less Treasury Stock Total Stockholders' Equity eTextbook and Medial List of Accounts 1000000
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