Darren Company had 600,000 ordinary shares outstanding on January 1, issued 120,000 shares on May 1, purchased 60,000 treasury shares on September 1, and issued 90,000 shares on November 1. What is the weighted average number of shares outstanding for the vear?
Q: Rye Company has provided the following information: • Weighted average number of outstanding common…
A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…
Q: Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no…
A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…
Q: 4) ABC Co. had 800,000 shares of common stock outstanding on January 1, issued 120,000 shares on…
A: This is used in calculating EPS. In this no. of shares is computed after adjusting of modifications…
Q: The statement of shareholders’ equity of Bethsheda Storage Corporation for the year ended December…
A: Balance sheet is the financial statement of the company which provides information related to the…
Q: AUBURN Corporation had 120,000 of ordinary shares issued and outstanding at January 1, 2021. On…
A: Formula: Basic earnings per share = Net income available to Ordinary shareholders / No. of Ordinary…
Q: Howard Corporation had 10,000 shares of common stock outstanding at the beginning of the year. On…
A:
Q: Rendivir Company had the following transactions during the year: January 1 Ordinary shares…
A: Here in this question, we are required to calculate weighted average number of share outstanding.…
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: At the beginning of the current year, Relay Company was organized and authorized to issue 100,000…
A: Shareholders equity is the amount that the owner has invested in the business including retained…
Q: Abs Company had 20,000 ordinary shares outstanding on January 1 of the current year. On May 1, the…
A: Earning per share: It implies to the earnings that is being received by the company's shareholders…
Q: Netpass Company has 100,000 shares of common stock authorized, 90,000 shares issued, and 40,000…
A: No. of shares issued and outstanding = No. of common stock issued - treasury stock = 90000 shares -…
Q: A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The…
A: Introduction: Authorized shares: Every company is allowed to issue certain number of shares. Simply…
Q: On January 1, 2021, Windsor Corp. had 488,000 shares of common stock outstanding. During 2021, it…
A: Since the student has posted multiple requirements, we shall answer the first three alone. Thank…
Q: Netpass Company has 300,000 shares of common stock authorized, 270,000 shares issued, and100,000…
A: Outstanding shares = Issued shares - Treasury shares = 270,000…
Q: On January 2, Year 1, Torres Corporation issued 17,000 shares of $12 par-value common stock for $18…
A: Issue of common stock more than par value: When a company issues common stock at a value more than…
Q: Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600…
A: The weighted average number of shares is based on the number of shares issued and the duration of…
Q: On December 1 of the current year, the following accounts and their balances appear in the ledger of…
A: Journal: Recording of a business transactions in a chronological order.
Q: A company has 200,000 shares authorized,167,000 shares issued and 40,000 shares of treasury stock .…
A: The term "Outstanding shares" refers to each and every share of a corporation that has been…
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: Howard corporation had 10,000 shares of common stock outstanding at the beginning of the year. On…
A: Weighted average number of shares is the total number of outstanding shares calculated at the end of…
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: Loeb Co. had 800,000 shares of common stock outstanding on January 1, issued 112,000 shares on May…
A: Weighted average shares outstanding for the year = Beginning No. of shares outstanding + Shares…
Q: Morrison Corporation had the following common stock record during the current calendar year:…
A: When the profit has to be divided by the number of shares, it is called earnings per share. In this…
Q: Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it…
A:
Q: Sampson Corp. had 500,000 shares of common stock outstanding at the beginning of the year. The…
A: Solution Concept Basic earning per share =earning available for common shareholders / weighted…
Q: CFAS Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with…
A: share premium account is created when there is the difference in the par value or face value of the…
Q: The annual report for Sneer Corporation disclosed that the company declared and paid…
A: 1.
Q: Netpass Company has 600,000 shares of common stock authorized, 510,000 shares issued, and 240,000…
A: Dividend is paid on the shares outstanding. Shares outstanding = Shares issued - Treasury shares…
Q: Clair, Inc reports net income of $700,000. It declares and pays dividends of $100,000 for the year,…
A: Given that, Net income = $700000 Preference dividend = $50000 Common stock dividend = $50000 The…
Q: On January 1 2018, ACI Ltd. had 5,80,000 shares of common stock outstanding . During 2018, it had…
A: Earnings per share is a financial ratio that indicates a company’s ability to earn revenue for its…
Q: the question is in the picture attached. please answer asap! thank you
A: Treasury stock:The shares which were reacquired or bought back by the company, but not formally…
Q: Monty Inc. has 5,400,000 shares of common stock issued and outstanding. On April 1, the board of…
A:
Q: Ahnberg Corporation had 520,000 shares of common stock issued and outstanding at January 1. No…
A: Definition: Earnings per share (EPS): The amount of net income available to each shareholder per…
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: The balance sheet for Crutcher Corporation reported 260,000 shares outstanding, 360,000 shares…
A: The corporation can issued that much shares which are authorized to the corporation by the Registrar…
Q: A company had 110,000 shares of common stock outstanding on January 1st. It then issued 50,000…
A: Earnings per share refer to the amount that shareholders earn on each share purchased by them. It is…
Q: Hill Corp. had 600,000 shares of common stock outstanding on January 1, issued 900,000 shares on…
A: Earnings per share is used to measure income earned per share. Earnings per share is equal to…
Q: Milo Co. had 800,000 shares of common stock outstanding on January 1, issued 126,000 shares on May…
A: Basic earnings per share = (Net income - Preferred dividend) / Weighted average no. of common shares…
Q: The balance sheet for Lauren Inc. shows the following: total paid-in capital and retained earnings…
A: Given, Total paid-in capital and retained earnings= $877,000 Total stockholders’ equity = $817,000…
Q: On March 28, the corporation purchased 10,000 shares as treasury stock at P15 per share. On April…
A: The issued and outstanding shares are the shares that are issued by the company and are not…
Q: The balance sheet for Crutcher Corporation reported 200,000 shares outstanding, 300,000…
A: Treasury stock: The shares which were reacquired or bought back by the company, but not formally…
Q: BFAR Corp. was formed on June 1 with 100,000 authorized shares having a par value of P20. The…
A: when company issue share capital and shares to the shareholders there received application allotment…
Q: At the beginning of the current year, Bella Company was organized and authorized to issue 100,000…
A: The shareholders' equity section displays all the capital, income or losses that belongs to…
Q: Rendivir Company had the following transactions during the year: January 1 Ordinary shares…
A: Weighted average shares issued on May 1 = 40000 shares x 8/12 moths…
Q: Bonita Industries had 809000 shares of common stock outstanding on January 1, issued 126000 shares…
A: The outstanding shares are calculated on the basis of the time period, the shares were outstanding.
Q: The following data has been collected about Keller Company's stockholders' equity accounts:…
A: Formula:
Q: At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common…
A: Solution: Common stock at the end of year= 120000*10 = 1,200,000 Additional paid in capital =…
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: Blake Distributors had 100,000 common shares outstanding at the beginning of the year, January 1. On…
A: Formula to calculate Earnings per share (EPS): EPS = (Net income - Preferred dividen) / Weighted…
PROVIDE COMPUTATION
Step by step
Solved in 2 steps
- The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares: 25,000 Treasury shares: 5,000 How many shares are outstanding?Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
- Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is Jupiter Corporations weighted average number of shares for the year?Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
- Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. Preferred stock subscriptions receivable 50,000 Preferred stock, 10 par, 9% (200,000 shares authorized; 20,000 shares issued)200,000 Preferred stock subscribed (10,000 shares)100,000 Paid-in capital in excess of parpreferred stock40,000 Common stock, 10 par (100,000 shares authorized; 60,000 shares issued)600,000 Paid-in capital in excess of parcommon stock250,000 Retained earnings750,000 During 20--, Gonzales Company completed the following transactions affecting stockholders equity: (a) Received 20,000 for the balance due on subscriptions for 4,000 shares of preferred stock with a par value of 40,000 and issued the stock. (b) Purchased 10,000 shares of common treasury stock for 18 per share. (c) Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d) Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e) Sold 5,000 shares of common treasury stock for 100,000. (f) Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g) Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
- Selected stock transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 200,000 shares of common stock at 12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at 115. c. Purchased 175,000 shares of treasury common for 10 per share. d. Sold 110,000 shares of treasury common for 14 per share. e. Sold 30,000 shares of treasury common for 8 per share. f. Declared cash dividends of 1.25 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000