3. On January 1, 2021, Sealed Air had 100,000 shares of common stock outstanding. The following transactions occurred during 2021

Q: On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000…

A: Cash dividend = Number of shares outstanding × Dividend per share = (106000-5000+10000) ×$1 = 111000…

Q: On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock ($10…

A: SOLUTION A JOURNAL IS THE COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTIONS ARE RECORDED IN…

Q: On December 31, 2022, Voice Company had 500,000 ordinary shares issued and outstanding, 400,000 of…

A: SOLUTION- COMPUTATION OF WEIGHTED AVERAGE NUMBER OF SHARES - DATE NUMBER OF SHARES  MONTHS…

Q: On January 1, 2020, Kingbird, Inc. had 85,000 shares of $1 par value common stock issued and…

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: Ringmeup Inc. had net income of $186,400 for the year ended December 31, 2019. At the beginning of…

A: Basic Earnings per share of common stock is computed by dividing the Net income less preferred…

Q: On January 1, 2021, Oriole Corporation had 1,020,000 shares of common stock outstanding. On March 1,…

A: EPS means net earnings on a single share. Firm use equity funds to generate a profit. EPS show how…

Q: On January 1, 2020, Volume Company had the following account balance carried over from the previous…

A: The money raised by issuing regular or preferred shares is referred to as a company's share capital.…

Q: Ringmeup Inc. had net income of $106,300 for the year ended December 31, 2019. At the beginning of…

A: Computation of weighted average outstanding sharesFor the year ended December 31, 2019 Particulars…

Q: 77,000 shares authorized and issued*   1,232,000

A: A Dividend is a payment given to stakeholders by a corporation. When a firm makes a profit or has a…

Q: Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued…

A: (1) Allocation of dividends to each class of stock, assuming that the preferred stock is 9% and not…

Q: Wendell Company provided the following pertaining to its accounting year that ended December 31,…

A: Additional paid-in capital on Common stock sold = Sale value of Common stock - Par value of Common…

Q: Flyaway Travel Company reported net income for 2021 in the amount of $90,000. During 2021, Flyaway…

A:

Q: Nagy Industries reported a net income of $600,360 on December 31, 2021. At the beginning of the…

A: Basic EPS is the earnings per share which only includes the effect of common shares while…

Q: On January 1, 2023, the stockholders’ equity section of Kay Corporation shows common stock ($7 par…

A: Introduction: Ownership of a company is represented by shares. When someone purchases stock in your…

Q: 1. Jets Corp. had 200,000 shares of common stock outstanding on January 1, issued 400,000 shares on…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The annual report for Sneer Corporation disclosed that the company declared and paid preferred…

A: Debit Credit   Dividends declared $         160,000     Dividends Payable   $      160,000…

Q: On January 1, 2021, Wilke Corp, had 480,000 shares of common stock outstanding. During 2021, it had…

A: Company's profitability can be identified by earnings per share as it shows earnings per share and…

Q: On the first day of 2021, Paccar had 100,000 shares of common stock outstanding. The following…

A: Earnings per share are the amount of earnings of the entity during the current period that is…

Q: Paris Co. has a December 31 year-end date. Data for 2021 shows: • There were 60,000, $3, cumulative…

A: Number of common shares Common shares as on January 1 370000 Shares issued 60000 Less; shares…

Q: On December 31, 2020 and 2019, Bucks Corporation had 105,000 Ordinary Shares issued, 5,000 shares in…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: On January 1, 2021, Pharoah Corp. had 491,000 shares of common stock outstanding. During 2021, it…

A: Earnings per share is a financial ratio that represents the value income earned for one share. The…

Q: On January 1, 2021, Oriole Corporation had 1,020,000 shares of common stock outstanding. On March 1,…

A: Earnings per share (EPS) is calculated by dividing the net income earned by the Company by the…

Q: Bentley Corporation received cash from issuing 13,000 shares of common stock at par on January 1,…

A: In the given question, the Corporation has issued 13,000 shares at par. The par value per share is $…

Q: On January 1, 2021, Monty Corp. had 459,000 shares of common stock outstanding. During 2021, it had…

A: b. Compute earnings per share for year 2021 using weighted average number of shares as shown below:…

Q: Nams auto parts reports the following components of stockholders' equity at December 31, 2018.…

A: Journal entries are recorded in chronological order where every transactions will be recorded in the…

Q: At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year…

A: Retained earnings represent the accumulated funds available to the company out of which the dividend…

Q: A year-end balance sheet includes the following information for Owners' Equity: Common stock…

A: Given that, common shares issued = 100000 shares Common stcok = $50000 Additional paid in capital =…

Q: transactions that affected the Common Stock account. February 1   Issued 120,000 shares March 1…

A: a. Computation of weighted average outastanding shares   Number of shares Stock Dividend…

Q: On January 1, 2020, the stockholders’ equity section of Skysong, Inc. shows common stock ($6 par…

A: We know that treasury stock is the stock which is purchase by the company from open market, it also…

Q: At December 31, 2021, Hancock Company had 500,000 shares of common stock issued and outstanding,…

A: Earnings per share = Net IncomeWeighted Average number of shares

Q: On January 1, 2021, Novak Corp. had  479,000 shares of common stock outstanding. During 2021, it had…

A: Weighted avg no of shares=Outstanding shares*period outstanding/12

Q: The annual report for Sneer Corporation disclosed that the company declared and paid preferred…

A: 1) Date Account Journal  Debit $ Credit $ 1 Dividend - Preferred stock 280,000     Dividends…

Q: On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock ($10…

A: Treasury stock is the company's shares that are purchased by the company from the market. These…

Q: Crane Inc. began operations in January 2018 and reported the following results for each of its 3…

A: a)Computation of the book value of the common stock at December 31, 2020 as follows:- Computation…

Q: On January 1, 2021, Monty Corp. had 459,000 shares of common stock outstanding. During 2021, it had…

A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: On January 1st, 2021, Bayshore Boats, Inc. had 30,000 shares of common stock outstanding. On…

A: Number of shares issued on stock split = ( 30,000 + 10,000 + 8,000 ) x 4 = 192,000 shares

Q: n January 1, 2021, Splish Corp. had 478,000 shares of common stock outstanding. During 2021, it had…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: At the end of its last fiscal year, December 31, 2021, Sink Corporation had issued 360,000 shares of…

A: According to the question, we are required to prepare the journal entries. The journal entries: The…

Q: Compute (a) return on common stockholders' equity for each year, and (b) discuss the changes in…

A: The formula to compute the return on common stockholders’ equity is shown below: = (Net income -…

Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…

A: Dividend is the amount to be paid by the company out of profit made to the shareholder's of the…

Q: However, now assume that for this question only that the preferred shares were cumulative and…

A: Preferred Shareholders dividend for 2019 not Paid before = 300,000 x 0.90 =270,000 Preferred…

Q: Cole Company was formed on January 1, 2022, when 300,000 shares of $2 par value common stock were…

A: Common stock : 300,000 shares x $2 par value per share = $600,000 Additional Paid-in capital -Common…

Q: Purple Cab Company had 60,000 shares of common stock outstanding on January 1, 2021. On April 1,…

A: Weighted average outstanding common stock =  60000 shares + 30000*9/12 = 82500 shares

Q: As on January 1, 2021, Gerald corp had 480,000 common shares outstanding (no preferred shares…

A: Weighted average common shares can be determined as number shares after taking in to consideration…

Q: On January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it…

A: Weighted average number of shares outstanding is the average number of shares that are outstanding…

Q: On January 1, 2021, Blossom Corporation had 950,000 shares of common stock outstanding. On March 1,…

A: In order to calculate weighted average shares, shares outstanding have to be multiplied with the…

Q: On January 1, 2021, Pharoah Corp. had 491,000 shares of common stock outstanding. During 2021, it…

A: Note: Assume that the accounting period of Pharoah Corp. starts in January and ends in December of…

Q: Current Assets $ 270,000 Investments $ 312,000 Share Capital - Ordinary (par Value $10) $ 300,000…

A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…

Q: On January 1, 2020, the stockholders’ equity section of Culver Corporation shows common stock ($5…

A: Date Accounts Debit Credit Mar. 1 Treasury Stock (47000*15) $705,000…

Q: On January 1, 2021, Wilke Corp. had 480,000 shares of common stock outstanding. During 2021, it had…

A: a. Determine the weighted-average number of shares outstanding as of December 31, 2021.

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.