WThe following table presents the long-term liabilities and stockholders' equity ofInformation Control Corporation from one year ago:Long-term debtPreferred stockCommon stock ($1 par value)Accumulated retainedearningsCapital surplusDuring the past year, the company issued 11.3 million shares of new stock at a total priceof $60.6 million, and issued $36.3 million in new long-term debt. The companygenerated $11.6 million in net income and paid $3.3 million in dividends. Construct thecurrent balance sheet reflecting the changes that occurred at the company during theyear. (Do not round intermediate calculations and enter your answers in dollars, notmillions of dollars, e.g., 1,234,567.)Information Control CorporationBalance SheetTotal long-term debt$66,300,0004,130,00016,300,000136,300,00046,300,000Shareholders' equityTotal equityTotal liabilities & equity

A balance sheet is a financial statement that presents the financial position of a company at a…

Answered: The following table presents the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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6
On January 1, the company had 150,000 common shares outstanding. During the year, the following events occurred: March 1: Two-for-one stock split June 1: Issued 45,000 additional shares September 1: 20% stock dividend What was the weighted-average number of shares outstanding for the year?
Pharoah Company has 496000 shares of $10 par value common stock outstanding. During the year Pharoah declared a 15% stock dividend when the market price of the stock was $34 per share. Three months later Pharoah declared a $0.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by $2529600. $491040. $2871840. $467600.
During Year 3, Solomon Corporation reported after-tax net income of $3,635,000. During the year, the number of shares of stock outstanding remained constant at 9,540 of $100 par, 10 percent preferred stock and 397,000 shares of common stock. The company's total stockholders' equity is $19,500,000 at December 31, Year 3. Solomon Corporation's common stock was selling at $53 per share at the end of its fiscal year. All dividends for the year have been paid, including $4.80 per share to common stockholders. Required a. Compute the earnings per share. (Round your answer to 2 decimal places.) b. Compute the book value per share of common stock. (Round your answer to 2 decimal places.) e. Compute the price-earnings ratio. (Round intermediate calculations and final answer to 2 decimal places.) d. Compute the dividend yield. (Round your percentage answer to 2 decimal places (i.e., 0.2345 should be entered as 23.45)) a Eamings per share b. Book value per share e. Price eamings ratio a. Dividend…
A company with 100,000 authorized shares of $6 par common stock issued 35,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $22 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
Kohler Corporation reports the following components of stockholders’ equity at December 31 of the prior year. Common stock—$25 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $ 1,500,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 2,040,000 During the current year, the following transactions affected its stockholders’ equity accounts. January 2 Purchased 6,000 shares of its own stock at $15 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 3,000 of its treasury shares at $19 cash per share. August 22 Sold 3,000 of its treasury shares at $11 cash per share. September 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend…
At the end of the accounting period, Houston Company had $8,000 of par value common stock issued, additional paid-in capital in excess of par value – common of $10,300, retained earnings of $8,500, and $6,000 of treasury stock. What is the total amount of stockholders' equity?
The stockholders’ equity accounts of Rayburn Corporation as of January 1 appear below: Common stock, $7 par value, 400,000 shares authorized; 180,000 shares issued and outstanding $1,260,000 Paid-in capital in excess of par value 920,000 Retained earnings 513,000 During the year, the following transactions occurred: June 7 Declared a 10 percent stock dividend; market value of the common stock was $13 per share. June 28 Issued the stock dividend declared on June 7. Dec. 5 Declared a cash dividend of $1.45 per share. Dec. 26 Paid the cash dividend declared on December 5. Required a. Prepare journal entries to record the foregoing transactions. General Journal Date Description Debit Credit Jun.07 Answer Answer Answer Stock Dividends Distributable Answer Answer Answer Answer Answer Declared stock dividend. Jun.28 Answer Answer Answer Common Stock Answer Answer Issued common shares as stock dividend. Dec.05 Answer…
Some of the account balances of Oriole Limited at December 31, 2022, are as follows: $8 Preferred shares (2,500 shares authorized, 2,500 shares issued and outstanding) Common shares (unlimited authorized, 44,000 shares issued and outstanding) Contributed surplus Retained earnings Accumulated other comprehensive income $480,000 560,000 109,000 (a1) 796,000 23,885 The price of the company's common shares has been increasing steadily on the market; it was $23 on January 1, 2023, and advanced to $26 by July 1 and to $29 at the end of 2023. The preferred shares are not openly traded but were appraised at $122 per share during 2023. Oriole follows IFRS and had net income of $148,000 during 2023. For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April 1. Each common shareholder was to receive one share of Pharoah Corp. for every 11 shares outstanding. Oriole had 8,500 shares of Pharoah (2% of the…
Kohler Corporation reports the following components of stockholders’ equity at December 31 of the prior year. Common stock—$25 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $ 1,500,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 2,040,000 During the current year, the following transactions affected its stockholders’ equity accounts. January 2 Purchased 6,000 shares of its own stock at $15 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 3,000 of its treasury shares at $19 cash per share. August 22 Sold 3,000 of its treasury shares at $11 cash per share. September 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend…
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for OMR 11.50 per share. Common stock, OMR 5 par, 100,000 shares authorized, 40,000 shares issued OMR 200,000 Paid in capital in excess of par—common 120,000 Retained earnings 290,000 Total stockholders' equity OMR 610,000 If the company declared and issued 10% stock dividend? What will the number of issued shares Select one: a. 20,000 shares b. 44,000 shares c. 40,000 shares d. 4,000 shares

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