Weighted Average SharesAt the beginning of Year 4, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to itscommon stock:March 1 Issued 48,000 shares of stock at $25 per share.June 1 Issued a 20% stock dividend.July 1 Issued 8,000 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 85,000 shares as treasury stock at a cost of $33 per share.Nov. 30 Reissued 43,000 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 thenumber of shares to nearest whole number.shares2. Determine the number of common shares outstanding at December 31, Year 4.shares

A corporation's shares are units of equity ownership. Shares exist as a financial asset for some…

Answered: Weighted Average Shares At the…

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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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…
Ivanhoe Company had these transactions during the current period. June 12 Issued 82,500 shares of $1 par value common stock for cash of $309,375. July 11 Issued 3,450 shares of $103 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 2,650 shares of treasury stock for $8,450. Prepare the journal entries for the Ivanhoe Company transactions shown above.
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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?
Subject: acounting
At December 31, Gorden Corporation has total stockholders’ equity of $3,200,000. Included in this total are preferred stock $500,000 and paid-in capital in excess of par—preferred stock $50,000. There are 10,000 shares of $50 par value, 8% cumulative preferred stock outstanding. At year end, 200,000 shares of common stock are outstanding. Instructions Compute the book value per share of common stock under each of the following assumptions. a. There are no preferred dividends in arrears, and the preferred stock does not have a call price. b. Preferred dividends are one year in arrears, and the preferred stock has a call price of $60 per share.
A company reported the following stockholders' equity on January 1 of the current year: Common stock-$10 par value, 1,000,000 shares authorized; 260,000 shares issued Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Prepare journal entries for the following selected transactions. March 1 Purchased 11,000 shares of its own stock for $21 cash per share. May 5 Sold 5,000 shares of its treasury stock for $21 cash per share. October 12 Sold 3,000 shares of its treasury stock for $22 cash per share. View transaction list 1 2 Purchased 11,000 shares of its own stock for $21 cash per share. Sold 5,000 shares of its treasury stock for $21 cash per share. 3 Sold 3,000 shares of its treasury stock for $22 cash per share. $ 2,600,000 1,270,000 1,685,000 $ 5,555,000 X Credit >
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…
On January 1, Sheffield Corporation had 145000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a O credit to Common Stock Dividends Distributable for $326250. O credit to Cash for $326250. O credit to Common Stock Dividends Distributable for $108750. O debit to Stock Dividends for $326250.
A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 4% stock dividend on a date when the market price was $12 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
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A company had stock outstanding as follows during each of its first three years of operations: 1,000 shares of 10%, $100 par, cumulative preferred stock and 54,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. If your answer is zero, please enter "0". Year 1 2 3 Dividends $7,500 10,000 39,080 Total Preferred $ Per Share Total Common Per Share

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