The Marshall Corporation reports $875,000 of net income. The company also had the following account balances: • . $6 Preferred stock, $50 par, 15,000 shares issued and outstanding: $750,000 Common stock, $5 par, 160,000 shares issued and outstanding: $800,000 There were no changes in the stock accounts during the year. Calculate the EPS for the year.

The Marshall Corporation reports $875,000 of net income. The company also had the following account balances: • . $6 Preferred stock, $50 par, 15,000 shares issued and outstanding: $750,000 Common stock, $5 par, 160,000 shares issued and outstanding: $800,000 There were no changes in the stock accounts during the year. Calculate the EPS for the year.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? issue price $9 per share. Shares held as treasury stock, 11,600 shares, cost $7 per share.. Net income for the current year, $410,720. Common Stock account, $144,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $740,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share…
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year).Shares authorized, 5,000,000.Shares issued, ? ; issue price $7 per share.Shares held as treasury stock, 10,500 shares, cost $5 per share.Net income for the current year, $529,300.Common Stock account, $155,000.Dividends declared and paid during the current year, $2 per share.Retained Earnings balance, beginning of year, $850,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.)
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