The cumulative preferred shares outstanding can be converted to a total of 86,600 common shares. The bonds can be converted to a total of 89,900 common shares. All the preferred shares, bonds, and stock options were outstanding for the entire 2021 fiscal year. The average market price of the common shares in the 2021 fiscal year was $25. Required: 1. Calculate basic earnings per share for Marathon Company for the year ended May 31, 2021 2. Calculate diluted earnings per share for Marathon Company for the year ad Mau21 2091

The cumulative preferred shares outstanding can be converted to a total of 86,600 common shares. The bonds can be converted to a total of 89,900 common shares. All the preferred shares, bonds, and stock options were outstanding for the entire 2021 fiscal year. The average market price of the common shares in the 2021 fiscal year was $25. Required: 1. Calculate basic earnings per share for Marathon Company for the year ended May 31, 2021 2. Calculate diluted earnings per share for Marathon Company for the year ad Mau21 2091

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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On January 1, 2020, Triad Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar 1 Issued 25,000 shares of common stock for $550,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 5,000 shares of common stock for the treasury for $22 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31. Prepare journal entries to record the above transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date Mar. 1 Debit Credit
On January 1, 2020, a company issued 10-year, $330,000 face value, 7% bonds, at par. Each $1,000 bond is convertible into 11 shares of common stock. The company’s net income in the year was $460,000, and its tax rate was 24%. The company had 100,000 shares of common stock outstanding throughout 2020. What is the numerator for computing diluted earnings per share for 2020?
Concord Inc. had net income for 2020 of $5,920,000. The company had 2,200,000 of common shares outstanding throughout the year. During 2020, Concord paid dividends on the common shares of $0.12 per share. Average common shareholder equity was $39,600,000, and the market value of the shares on December 31, 2020 was $27 per share.Concord Inc. also had 100,000 shares outstanding of cumulative, $7, no-par value preferred shares. The shares were outstanding for the full year, and dividends had been kept current for the past several years.Calculate the following ratios for Concord Inc.: (Round answers to 2 decimal places, e.g. 25.15 or 25.15%. Round earnings per share to 3 decimal places for intermediate calculations, e.g. 1.253.) Rate of return on common shareholders’ equity%, Payout ratio%Price earnings ratio, timesBook value per share$ per share Please share how to do in Excel
Carla Vista Corporation had net income of $42,000 for the year ended December 31, 2023, and weighted average number of common shares outstanding of 10,000. The following information is provided regarding the capital structure: 1. 2. (a1) (a2) 8% convertible debt, 210 bonds each convertible into 43 common shares. The bonds were outstanding for the entire year. The income tax rate is 35%. The bonds were issued at par ($1,150 per bond). No bonds were converted during the year. 3% convertible, cumulative $100 preferred shares, 1,000 shares issued and outstanding. Each preferred share is convertible into 2 common shares. The preferred shares were issued at par and were outstanding the entire year. No shares were converted during the year. Calculate the basic earnings per share for 2023. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share eTextbook and Media
Fortuner Company had 200,000 ordinary shares outstanding on January 1, 2021. On January 1, 2021, the entity issued 4,000 convertible 10% bonds with P1,000 face value. The bonds were converted on October 1, 2021 and 40 ordinary shares were issued in exchange for each bond. Net income was P5,000,000. The income tax rate is 30%. What is the amount of basic earnings per share? 25.00 13.80 20.83 15.62 What is the amount of diluted earnings per share? 14.47 21.65 14.72 14.61
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Im, Incorporated had 52,000 shares of common stock outstanding at January 1, 2024. On March 31, 2024, an additional 12,400 shares were sold for cash, Im also had $4,200,000 of 6% convertible bonds outstanding throughout the year. The bonds are convertible into 42,000 shares of common stock. Net income for the year was $353,000. The tax rate is 25%. Required: Compute basic and diluted earnings per share for the year ended December 31, 2024. Note: Round your answers to 2 decimal places. Basic Diluted $ $ 5.76 5.25
At the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 48,000 shares of stock at $25 per share. June 1 Issued a 15% stock dividend. July 1 Issued 10,000 shares of stock at $30 per share. Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. Oct. 31 Reacquired 94,000 shares as treasury stock at a cost of $33 per share. Nov. 30 Reissued 46,000 treasury shares at a price of $36 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number. fill in the blank 1 shares2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 2 shares
Company B had net income for the fiscal year ended December 31, 2020 of $5 million. There were 500,000 common shares outstanding throughout 2020. The average market price of the common shares for the entire fiscal year was $50. Company tax rate was 25% for 2020. Company B had the following potential common shares outstanding during 2020: • Options to buy 100,000 common shares at $45 per share. • 100,000 convertible preferred shares entitled to a cumulative dividend of $10 per share. Each preferred share is convertible into 1.5 common shares. • 4% convertible bonds with a principal amount of $30 million, issued at par. Each $1,000 bond is convertible into 25 common shares. For the fiscal year ended December 31, 2020, what is the basic and diluted EPS using IFRS?
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