Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
1st Edition
ISBN: 9780134047430
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 20, Problem 20.2MC
To determine
To identify: The correct option.
Given information:
Number of shares outstanding in year 10 is 100,000.
Net income in the year 10 is $350,000.
Net income in the year 11 is $410,000.
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When Ale Co. started operating in Year 1, it issued 750,000 shares of common stock. In Year 2, the company issued 50,000 more shares of common stock and 100,000 shares of preferred stock (with each preferred share convertible into one common share). In Year 3, 40 percent of the preferred shares were converted into common shares. At the end of Year 3, the company underwent a 4-for-1 stock split. Determine the total number of outstanding common stock shares at the end of Year 3.
Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no common shares were issued during the year, but on january 1, ahnberg issued 380,000 shares of convertible perferred stock. the preferred shares are convertible into 760,000 shares of common stock. during the year ahnberg paid 228,000 cash dividends on the preferred stock. Net income was 3,040,000.
what were ahnberg's basic and diluted earning per share for the year?
Coronado Corporation began its latest fiscal year on January 1, 2021, with 520,000 common shares outstanding. During the year, the following events occurred:
On February 1, Coronado sold 15,400 additional common shares.
The company declared and issued a 25% stock dividend on March 1.
On June 1, Coronado repurchased and cancelled 3,850 common shares.
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An additional 4,700 common shares were issued on July 1.
On September 1, Coronado declared and issued a three-for-one stock split.
On December 1, Coronado issued an additional 14,400 shares.
Following the fiscal year, Coronado declared and issued a two-for-one stock split on February 1, 2022.
The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Coronado should use for calculating its EPS numbers for 2021.
Weighted average number of common shares:
Chapter 20 Solutions
Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
Ch. 20 - Prob. 20.1QCh. 20 - Prob. 20.2QCh. 20 - If-Converted Method. Does the if-converted...Ch. 20 - Diluted EPS. If all potentially dilutive...Ch. 20 - Diluted EPS. Can diluted earnings per share on...Ch. 20 - Diluted EPS, Convertible Debt, and Preferred...Ch. 20 - Prob. 20.7QCh. 20 - Prob. 20.8QCh. 20 - Prob. 20.9QCh. 20 - EPS Disclosures. is an entity required to present...
Ch. 20 - Prob. 20.11QCh. 20 - Hutchins Company had 200,000 shares of common...Ch. 20 - Prob. 20.2MCCh. 20 - Prob. 20.3MCCh. 20 - Prob. 20.4MCCh. 20 - Refer to the information about Hutchins Company in...Ch. 20 - Prob. 20.6MCCh. 20 - Prob. 20.1BECh. 20 - Prob. 20.2BECh. 20 - Computing Income for Basic EPS. Russo Watches, Ltd...Ch. 20 - Prob. 20.4BECh. 20 - Compute Weighted-Average Number of Shares...Ch. 20 - Compute Weighted-Average Number of Shares...Ch. 20 - Prob. 20.7BECh. 20 - Prob. 20.8BECh. 20 - Prob. 20.9BECh. 20 - Prob. 20.10BECh. 20 - Prob. 20.11BECh. 20 - Computing Basic and Diluted EPS, Options. Nicks...Ch. 20 - Computing Diluted EPS, Convertible Debt. Axelon...Ch. 20 - Computing Basic and Diluted EPS, Preferred Stock....Ch. 20 - Computing Weighted-Average Number of Common Shares...Ch. 20 - Prob. 20.3ECh. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.5ECh. 20 - Computing Basic and Diluted EPS, Convertible Bonds...Ch. 20 - Computing Basic and Diluted EPS, Convertible Bonds...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Options,...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.12ECh. 20 - Prob. 20.1PCh. 20 - Prob. 20.2PCh. 20 - Computing Basic and Diluted EPS. Convertible...Ch. 20 - Prob. 20.4PCh. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.7PCh. 20 - Prob. 20.8PCh. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 1JCCh. 20 - Prob. 1FSACCh. 20 - Prob. 1SSCCh. 20 - Basis for Conclusions Case 1: Antidilutive...Ch. 20 - Basis for Conclusions Case 2: Treasury Stock...
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