Homework Answers
| Event | Dates outstanding | Shares outstanding (a) | Stock split restatement (b) | Number of months (c) | Weighted shares ( a*b*c)/12 |
| Beginning balance | Jan 1- May-1 | 816,000 | 2 | 4 | 544,000 |
| Issued shares | May-1 - Aug-1 | 1134000 (816000+318000) | 2 | 3 | 567000 |
| Reacquired shares | Aug-1 - Oct-1 | 972,000 (1134000-162000) | 2 | 2 | 324,000 |
| Stock split | Oct-1 - Dec-31 | 1950000 (816000+ 1134000) | 1 | 3 | 487500 |
| Preference dividend= | number of shares * par value 100* 8% | = 51000*100*8%=408000 | 1922500 | ||
| Earnings per share = (Net income-Preferred dividends)/ Weighted shares | |||||
| =(2,550,000-408,000) /1922500= | 1.11 | ||||
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Tamarisk Inc. presented the following data. Net income Preferred stock: 51,000 shares outstanding, $100 par, 8%...
Martinez Inc. presented the following data. Net income $2,550,000 Preferred stock: 51,000 shares outstanding, $100 par,...
Martinez Inc. presented the following data. Net income $2,550,000 Preferred stock: 51,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,100,000 Common stock: Shares outstanding 1/1 816,000 Issued for cash, 5/1 318,000 Acquired treasury stock for cash, 8/1 162,000 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $enter earnings per share rounded to 2 decimal places
Kingbird Inc. presented the following data. Net income Preferred stock: 53,000 shares outstanding, $100 par, 8%...
Kingbird Inc. presented the following data. Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,340,000 5,300,000 692,400 321,600 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Novak Inc. presented the following data. Net income $2,740,000 Preferred stock: 45,000 shares outstanding, $100 par,...
Novak Inc. presented the following data. Net income $2,740,000 Preferred stock: 45,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,500,000 Common stock: Shares outstanding 1/1 714,000 Issued for cash, 5/1 291,600 Acquired treasury stock for cash, 8/1 135,600 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
Pronghorn Inc. presented the following data. Net income $2,470,000 Preferred stock: 52,000 shares outstanding, $100 par,...
Pronghorn Inc. presented the following data. Net income $2,470,000 Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,200,000 Common stock: Shares outstanding 1/1 736,800 Issued for cash, 5/1 315,600 Acquired treasury stock for cash, 8/1 134,400 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
Exercise 16-18 Swifty Inc. presented the following data. Net income $2,340,000 Preferred stock: 53,000 shares outstanding,...
Exercise 16-18
Swifty Inc. presented the following data.
Net income
$2,340,000
Preferred stock: 53,000 shares outstanding, $100 par, 8%
cumulative, not convertible
5,300,000
Common stock: Shares outstanding 1/1
692,400
Issued for cash, 5/1
321,600
Acquired treasury stock for cash, 8/1
160,800
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal
places, e.g. $2.55.)
Earnings per share
$
Current Attempt in Progress Monty Inc. presented the following data. $2,540,000 Net income Preferred stock: 53,000...
Current Attempt in Progress Monty Inc. presented the following data. $2,540,000 Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 5,300,000 686,400 308,400 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
16.2 #1 PLEASE SHOW ALL WORK Stellar Inc. presented the following data. Net income Preferred stock:...
16.2 #1 PLEASE SHOW ALL WORK
Stellar Inc. presented the following data. Net income Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,670,000 5,400,000 712,800 272,400 148,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 Net income...
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 Net income Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 5,400,000 718,800 328,800 165,600 compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share 0.82
so Decrease No Effect Meyers, Inc. presented the following data: $2,500 2014 Net income Preferred stock:...
so Decrease No Effect Meyers, Inc. presented the following data: $2,500 2014 Net income Preferred stock: 10% cumulative, not convertible $3.000 Common stock: 1/1: 1,000 shares outstanding nem 9/1: 1,000 shares issued in a 2-for-1 stock split 10/1: 200 shares treasury stock acquired 11/1: 240 shares issued for cash No preferred dividends were declared or paid in 2014, the first year of the company. The denominator to be used in Basic EPS is: a. 1.910 1,657 2,090 1,990 menn L....
Kingbird Inc. presented the following data. Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,340,000 5,300,000 692,400 321,600 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Exercise 16-18
Swifty Inc. presented the following data.
Net income
$2,340,000
Preferred stock: 53,000 shares outstanding, $100 par, 8%
cumulative, not convertible
5,300,000
Common stock: Shares outstanding 1/1
692,400
Issued for cash, 5/1
321,600
Acquired treasury stock for cash, 8/1
160,800
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal
places, e.g. $2.55.)
Earnings per share
$
Current Attempt in Progress Monty Inc. presented the following data. $2,540,000 Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 5,300,000 686,400 308,400 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
16.2 #1 PLEASE SHOW ALL WORK
Stellar Inc. presented the following data. Net income Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,670,000 5,400,000 712,800 272,400 148,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 Net income Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 5,400,000 718,800 328,800 165,600 compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share 0.82
so Decrease No Effect Meyers, Inc. presented the following data: $2,500 2014 Net income Preferred stock: 10% cumulative, not convertible $3.000 Common stock: 1/1: 1,000 shares outstanding nem 9/1: 1,000 shares issued in a 2-for-1 stock split 10/1: 200 shares treasury stock acquired 11/1: 240 shares issued for cash No preferred dividends were declared or paid in 2014, the first year of the company. The denominator to be used in Basic EPS is: a. 1.910 1,657 2,090 1,990 menn L....
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