Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 13, Problem 13.1CTFSC
1.
To determine
Annual Report: It is a comprehensive financial report that shows all the business activities that takes place throughout the previous financial year. Its purpose is to provide the complete financial information of a company’s financial activities to its users in order to help them analyze and take well informed decisions.
To state: whether S Corporation had any preferred stock at September 29, 2013.
2.
To determine
To State: whether S Corporation is authorized to issue preferred stocks.
3.
To determine
To find: the number of common stock S Corporation was outstanding at September 29, 2013.
4.
To determine
To state: whether S Corporation paid any dividends during the year ending September 29, 2013.
5.
To determine
To Show: the computation of earnings per share by S Corporation of $0.01 for 2013.
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You will enter the Topic, Subtopic, Section, Paragraph in a fill in the blank question and your overall conclusion to this case. Example: ASC 100-10-45-4 (you do not need to enter what the guidance content)
Research Case #2:
Ricci Corporation is preparing their financial statements for the year ending September 30, 2021. Ricci Corporation has two categories of stock; Preferred and Common. On September 25, 2021 Ricci Corporation declared dividends on the preferred stock which will be paid on October 18, 2021. In order to calculate EPS the staff accountant had the following information:
2021 Net Income: $4,000,000
Preferred Dividends Declared in September 25, 2021 $ 500,000
but not paid until October 18, 2021
Weighted Average Number of Common Shares Outstanding 125,000 shares
The staff accountant has determined…
Assume this is the stockholders' equity section from the Campbell Soup Company balance sheet.
How do you get these two questions?
1. At what average price were the Campbell Soup shares issued? (Round your answer to two decimal places.)
2. Calculate and interpret the company’s market-to-book ratio at August 1, 2008. Round answer to two decimal places.
Shareholders' Equity (millions, except per share amounts)
August 3, 2008
July 29, 2007
Preferred stock: authorized 40 shares; non issued
$ --
$ --
Capital stock, $0.0375 par value; authorized 560 shares; issued 512 shares
19
19
Additional paid-in capital
337
331
Earnings retained in the business
7,906
7,052
Capital stock in treasury, 186 shares in 2008 and 163 shares in 2007, at cost
(6,812)
(6,015)
Accumulated other comprehensive loss
(136)
(123)
Total shareholders' equity
$ 1,314
$ 1,264
Assume Campbell Soup Company also reports the following statement of stockholders' equity.
(Millions, except per share…
Data table
Income Statement-partial:
Net Income
Balance Sheet-partial:
Total Assets
Paid-In Capital:
Preferred Stock-2%, $5 Par Value; 85,000 shares
authorized, 5,000 shares issued and outstanding
Common Stock-$3 Par Value; 85,000 shares
authorized; 55,000 shares issued and outstanding
Paid-In Capital in Excess of Par-Common
Retained Earnings
Total Stockholders' Equity
Print
$
$
$
$
Done
2024
22,500 $
260,000 $
Dec. 31, 2024 Dec. 31, 2023
25,000 $
165,000
2023
5,000
52,000
247,000 $
25,000
265,000
25,000
165,000
5,000
30,000
225,000
Chapter 13 Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
Ch. 13 - Prob. 1QCCh. 13 - Prob. 2QCCh. 13 - Suppose Value Home and Garden Imports issued...Ch. 13 - Prob. 4QCCh. 13 - Prob. 5QCCh. 13 - Assume that a company paid 6 per share to purchase...Ch. 13 - Prob. 7QCCh. 13 - A small stock dividend a. decreases common stock....Ch. 13 - Jackson Health Foods has 8,000 shares of 2 par...Ch. 13 - Prob. 10QC
Ch. 13 - Prob. 1RQCh. 13 - Prob. 2RQCh. 13 - How does authorized stock differ from outstanding...Ch. 13 - What are the four basic rights of stockholders?Ch. 13 - How does preferred stock differ from common stock?Ch. 13 - Prob. 6RQCh. 13 - What are the two basic sources of stockholders'...Ch. 13 - Prob. 8RQCh. 13 - If stock is issued for assets other than cash,...Ch. 13 - Prob. 10RQCh. 13 - Where and how is treasury stock reported on the...Ch. 13 - What is the effect on the accounting equation when...Ch. 13 - What are the three relevant dates involving cash...Ch. 13 - How does cumulative preferred stock differ from...Ch. 13 - What is a stock dividend?Ch. 13 - Prob. 16RQCh. 13 - What are some reasons corporations issue stock...Ch. 13 - Prob. 18RQCh. 13 - What does the statement of retained earnings...Ch. 13 - What is a prior-period adjustment?Ch. 13 - Prob. 21RQCh. 13 - What does earnings per share report, and how is it...Ch. 13 - What is the price/earnings ratio, and how is it...Ch. 13 - What does the rate of return on common stock show,...Ch. 13 - Prob. 13.1SECh. 13 - Journalizing issuance of stock- at par and at a...Ch. 13 - Journalizing issuance of stock-no-par Ashford...Ch. 13 - Journalizing issuance of stock- stated value...Ch. 13 - Journalizing issuance o f stock for assets other...Ch. 13 - Prob. 13.6SECh. 13 - Accounting for cash dividends Frenchroast Company...Ch. 13 - Dividing cash dividends between preferred and...Ch. 13 - Prob. 13.9SECh. 13 - Prob. 13.10SECh. 13 - Prob. 13.11SECh. 13 - Preparing a statement of retained earnings Tinder,...Ch. 13 - Analyzing the effect of prior-period adjustments...Ch. 13 - Prob. 13.14SECh. 13 - Prob. 13.15SECh. 13 - Prob. 13.16SECh. 13 - Prob. 13.17ECh. 13 - Prob. 13.18ECh. 13 - Journaling issuance of stock Skylar Systems...Ch. 13 - Prob. 13.20ECh. 13 - Prob. 13.21ECh. 13 - Prob. 13.22ECh. 13 - Journalizing treasury stock transactions and...Ch. 13 - Journalizing issuance of s tock and treasury stock...Ch. 13 - Computing dividends on preferred and common stock...Ch. 13 - Computing dividends on preferred and common stock...Ch. 13 - Journalizing a stock dividend and reporting...Ch. 13 - Prob. 13.28ECh. 13 - Reporting stockholders' equity after a stock split...Ch. 13 - Determining the effects of cash dividends, stock...Ch. 13 - Prob. 13.31ECh. 13 - Prob. 13.32ECh. 13 - Computing earnings per share and price/earnings...Ch. 13 - Computing rate of return on common stockholders'...Ch. 13 - Organizing a corporation and issuing stock John...Ch. 13 - Identifying sources of equity, stock issuance, and...Ch. 13 - Prob. 13.37APCh. 13 - Journalizing dividends and treasury stock...Ch. 13 - Journalizing dividend and treasury stock...Ch. 13 - Prob. 13.40APCh. 13 - Prob. 13.41BPCh. 13 - Prob. 13.42BPCh. 13 - Prob. 13.43BPCh. 13 - Journalizing dividends and treasury stock...Ch. 13 - Journalizing dividend and treasury stock...Ch. 13 - Prob. 13.46BPCh. 13 - Sources of equity and journalizing stock issuance...Ch. 13 - Prob. 13.1CTFSCCh. 13 - Prob. 13.1CTCA
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