The following data is available for Coronado Service Corporation at December 31, 2020: Common stock, par $10 (authorized 100000 shares) Treasury Stock (at cost $15 per share) $411000 O 39300 O 50000 O 41100 O 49100 27000 Based on the data, how many shares of common stock are outstanding?
Q: QUESTION 30 Enter your search term The Campanella Club (CC) has food sales of $4,000,000 and a food…
A: A balance sheet refers to the statement prepared by the company to depict the financial position of…
Q: 4-2. The Village of Seaside Pines prepared the following General Fund Trial Balance as of December…
A: SOLUTION- CLOSING ENTRIES ALSO CALLED CLOSING JOURNAL ENTRIES , ARE ENTRIES MADE AT THE END OF THE…
Q: Sheffield Corporation was organized on January 1, 2022. 1118 authorized to issue 11.000 shares of…
A: Journal entries refers to the entries which are passed by the businesses at the fiscal year end and…
Q: The Accounts Receivable balance for Lantana Company at December 31, 2023, was $27,000. During 2024,…
A: Computation of Closing Accounts Receivable:- Particulars Amount ($) Accounts Receivable, Dec…
Q: Which of the following investments had the largest fluctuations overall return over the past eighty…
A: Financial instruments are assets that can be traded and whose value is derived from the underlying…
Q: Assume that all balance sheet amounts for Oriole Company represent average balance figures.…
A: EARNING PER SHARE Earning Per Share are the net earnings of the company earned on one share. It…
Q: Requirements 1. Journalize for Lantana the lending of the money on June 6. 2. Journalize the…
A: The journal entries are prepared to keep the record of day to day transactions of the business. The…
Q: the perpetual record, calculate the quantity and total cost of merchandise inventory purchased,…
A: Inventory Valuation is a method of calculating the value of stock at the end of an accounting…
Q: 5. Which of the following incorrectly matches the classification of the debt investment with its…
A: The amortized cost means the accumulated portion of fixed asset expense or depreciation. One of the…
Q: The Cash account of Safety First Security Systems reported a balance of $2,540 at December 31, 2024.…
A: Bank reconciliation refers to the method used by the company to match the bank statement as well as…
Q: Assume the following costs in each of the categories identified in question one are: $133,533…
A: Cost of goods sold is the cost incurred on the making of the goods that are sold by the entity to…
Q: Consider a three-year project with the following information: Initial fixed asset Investment =…
A: The sensitivity of Operating Cash Flow (OCF) refers to the degree to which OCF changes in response…
Q: plz help
A: TIE Ratio = EBIT / Interest expense So we need to add back the interest expense and income tax…
Q: a growing future sum Personal Finance Problem Aretirement home at Deer Trail Estates now costs…
A: Due to inflation prices go on increasing and this will increase the annual payments to increase.
Q: You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two…
A: Present Value is the estimation of future cash flows at a predetermined rate of return over a…
Q: At December 31 year-end, Crate Company has an $8,700 note receivable from a customer. Interest of 8%…
A: All assets of a company are reported in the balance sheet. Since note receivable is an asset, it…
Q: Problem 2 Daniel's Place has selected financial ratios for 20X1–20X3 as follows: 20X1 20X2 20X3…
A: Accounting and financing ratios are used to evaluate the performance and position of a firm. There…
Q: 5. On January 1, 2021, MNO Company acquired 12,500 of the outstanding common shares of Esther…
A: The question is related Business Combination. The details are as under Stake of MNO Comapny in…
Q: Match each of the following terms with its correct definition: v job-order costing system A. A…
A: Job order costing is the costing method that determines the manufacturing overhead of each product.…
Q: A table of notes receivable for 2024 follows: (Click the icon to view the table of notes receivable…
A: Note means an instrument acknowledging as debt due from one party to another party. Formula to be…
Q: naximum receivables balance the club can tolerate and still recoi credit and collections. lub is…
A: The question is related to Ratio Analysis. In the given question the credit sales is $8000000 and…
Q: How many weeks would it take to increase the debt of a simple discount loan by 176% if the annual…
A: Current value (PV) = 100 (Assumed) Future value (FV) = 100*(1+1.76) = 100*2.76 = 276 Interest rate…
Q: K Kidman & Associates is a law firm specializing in labor relations and employee-related work. It…
A: Direct costs rate is calculated by dividing total direct costs incurred by estimated usage of cost…
Q: M. Gonzales has the following transactions during August of the current year. Aug 1 Opens an office…
A: Increase in assets should be debited and decrease in assets should be credited. Increase in expenses…
Q: The following information on a defined benefit plan is provided: FVPA, beg beg 2,200,000 Current…
A: Defined Benefit Plan Employees of the entity are given with a defined benefit plan after they have…
Q: Individual industries will use energy as efficiently as it is economical to do so, and there are…
A: After tax salvage value is calculated as shown below. After tax salvage value=Market value-Tax…
Q: Get Away Resorts had trouble collecting its account receivable from Stephan Stow. On June 19, 2024,…
A: Bad debts expense: Bad debts expense is recognized in the books of the company when a debtor is…
Q: What is the present value of a $700 annuity payment over six years if interest rates are 10 percent?
A: The present value of annuity refers to the current value of a series of future payments. The present…
Q: Bill took out a 6 year loan to buy a car. If the loan carried an annual interest rate of 6.5% and he…
A: The amount of interest paid is calculated as difference of total payments less present value of…
Q: Mrs. Enriquez would like to invest 150,000 pesos for 10 years. She went to four known banks and…
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…
Q: 3. Please, explain (with an example for each) ... a real world situation, where Future Value and…
A: Present value : It is the current value of future cash flows i.e., how much the future sum of money…
Q: Nevis Corporation manufactures and sells a single product. In preparing the budget for the first…
A: The cost of goods sold is calculated as difference between cost of goods available for sale and…
Q: Part A: Problem 6 data for the months of May and June: May June 950 Single rooms sold Double rooms…
A: Hi student Since there are multiple questions, we will only first question with first three…
Q: Problem 9 The Warwick Motel's income statement for 20X6 is provided below: Warwick Motel Income…
A: Gross Profit is the profit of the company which is generally calculated by deducting the cost of the…
Q: Alhamra Technology's capital structure is as follows (in %): Debt 30; Preferred stock 20; Common…
A: A company has several sources from where it can raise funds. It can issue equity shares and the…
Q: Which of the following statements concerning performance evaluation tools used in decentralized…
A: Performance evaluation means when actual performance is being compared with the budgeted numbers and…
Q: A corporation filed its Annual Income Tax Return for the taxable year 2018 on April 15, 2019…
A: As per IRS, an annual income tax return filed on or before April 15, cannot be amended later than…
Q: On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury…
A: Journal entry for above transaction are as follows
![The following data is available for Coronado Service Corporation at December 31, 2020:
Common stock, par $10 (authorized 100000 shares)
Treasury Stock (at cost $15 per share)
Based on the data, how many shares of common stock are outstanding?
Ⓒ 39300
O 50000
O 41100
O 49100
$411000
27000
Save for Later
Attempts: 0 of 4 used Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0c275bd-abd8-427a-a328-d3b2dea8731c%2F75187210-71d3-4922-acec-a4f417caeb8d%2Fpsx9flg_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?
- Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.Calculating the Number of Shares Issued Castanet Inc. issued shares of its $1. 50 par value common stock on November 9,2019, for $13 per share. In recording the issuance of the stock, Castanet credited the Additional Paid-In Capital- Common Stock account for $416,300. Required: How many shares were issued on November 9, 2019?Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.
- Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented below. Make a list of the numbers 1 through 12 and match the letter of the most directly related definition or example with each number Definitions and Examples Capitalizes retained earnings. Shares issued minus treasury shares. Emerson Electric will pay a dividend to all persons holding shares of its common stock on December 15, 2019, even if they just bought the shares and sell them a few days later. The accumulated earnings over the entire life of the corporation that have not been paid out in dividends. Common Stock account balance divided by the number of shares issued. The state of Louisiana set an upper limit of 1,000,000 on the number of shares that Gumps Catch Inc. can issue. Shares that never earn dividends. Any changes to stockholders equity from transactions with no owners. A right to purchase stock at a specified future time and specified price. j. A stock issue that requires no journal entry. k. Shares that may earn guaranteed dividends. 1. On October 15, 2019, General Electric announced its intention to pay a dividend on common stock.Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.
- Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.The following data is available for Sheffield Service Corporation at December 31, 2020: Common stock, par $10 (authorized 100000 shares) Treasury Stock (at cost $15 per share) $413000 O 41300 O 50000 O 37700 O 48200 54000 Based on the data, how many shares of common stock are outstanding?The following data is available for Crane Corporation at December 31, 2025: Common stock, par $10 (authorized 31500 shares) $283500 Treasury stock (at cost $15 per share) $1080 Based on the data, how many shares of common stock are issued? O 28278. O 31428. O 31500. O 28350.
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)