Earnings Per Share Calculations Information Provided: Common Shares Balance at the beginning of the year On July 1, the company sold an additional 5,000,000 shares 8000,000 shares Each share sold for 3.00 and had a parvalue of s a10 Preferrred Shares Beginningof the Year 50,000 End of the Year 150,000 Dividends paid to Preferred shareholders Dividends paid to Common Sharehol ders 650, 000 1,000, 000 Exceptfrom Income Statement Income from Continuing Ope rations Income from Discontinued Operations (after taximpac) 22,000, 000 2,100,000 24,100, 000 Net Income Required: Based on the Information provided above; 1 Prepare the Joumal entry to record the July 1 sale of shares 2 Calculate the welghted average common shares outstandi ng 3 Calculate e arnings pershare (as required). Note:Show your detal led calaulations.
Earnings Per Share Calculations Information Provided: Common Shares Balance at the beginning of the year On July 1, the company sold an additional 5,000,000 shares 8000,000 shares Each share sold for 3.00 and had a parvalue of s a10 Preferrred Shares Beginningof the Year 50,000 End of the Year 150,000 Dividends paid to Preferred shareholders Dividends paid to Common Sharehol ders 650, 000 1,000, 000 Exceptfrom Income Statement Income from Continuing Ope rations Income from Discontinued Operations (after taximpac) 22,000, 000 2,100,000 24,100, 000 Net Income Required: Based on the Information provided above; 1 Prepare the Joumal entry to record the July 1 sale of shares 2 Calculate the welghted average common shares outstandi ng 3 Calculate e arnings pershare (as required). Note:Show your detal led calaulations.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 4SEA
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