On January 1, 2021, Pharoah Corp. had 491,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 116,000 sharesMarch 1 Issued a 10% stock dividendMay 1 Acquired 96,000 shares of treasury stockJune 1 Issued a 3-for-1 stock splitOctober 1 Reissued 59,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding enter the weighted-average number of shares outstanding as of December 31, 2018

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: A company has the following two classes of stock authorized: 9%, $10 par value preferred and $1 par…

A: Journal entries to record each transaction is as under:

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 January 1, 2021. Hum Enterprises Inc. had 80.000 common shares, recorded at $560,000. The company…

A: Share refers to the unit that is issued by the company into a market to raise funds by making an…

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

A: Here is the summary of transactions done along with the journals:Below are the journals to be passed…

Q: On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During 2021, it…

A: Formula: Earning per share = Net Income / Weighted average number of shares outstanding or Earning…

Q: Wok N Roll, Inc. began on January 1, 2018 by issuing 100,000 shares of $1 par value common stock and…

A:

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

A: Weighted-Average Common Shares is used as a denominator in computing for earnings-per-share. There…

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: On January 1. 2021, Hum Enterprises Inc. had 74,000 common shares, recorded at $592,000. The company…

A: A dividend is the distribution of some of the corporate profits to a class of its shareholders.…

Q: At the beginning of 2019, Hardin Company had 300,000 shares of $10 par common stock outstanding.…

A: The weighted average number of shares outstanding are calculated as shares outstanding with the…

Q: Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018.…

A: Journal entry is defined as recording of the transactions of the business into the books of accounts…

Q: On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common…

A: Stockholders' equity is the amount of assets remaining in a business after all liabilities have…

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

A: Please find the answers to the above questions below:

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

A: Earnings per share is a financial ratio that indicates a company’s ability to earn revenue for its…

Q: 1,000,000 shares of $2 par common stock authorized and 400,000 shares issued and outstanding. The…

A: Weighted average number of shares the average number of shares remains outstanding during the…

Q: On January 1, 2021, Fire in the Hole Company showed the following alphabetical list of shareholders'…

A:

Q: On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During 2021, it…

A: GIVEN     On January 1, 2021, Bramble Corp. had 487,000 shares of common stock outstanding. During…

Q: On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common…

A: Balance Sheet is the statement that shows all the details about the assets, liabilities and…

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 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, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common…

A: Balance Sheet is the statement that shows all the details about the assets, liabilities and…

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: Sunland Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: Stock refers to the shares of which the ownership of company is divided whereas the preferred stock…

Q: Weaver Corporation had the following stock issued and outstanding at January 1, 2018:   94,000…

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

Q: At January 1, 2020, Ayayai Company’s outstanding shares included the following. 276,000 shares of…

A: Earnings Per Share: Earnings per share are also known as net income per share. It measures 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: Alexander Corporation reports the following components of stockholders' equity at December 31, 2018.…

A: Out of the profit earned by the business organizations, some of the profit is distributed to the…

Q: On January 1, 2021, Dreamy Company issued 30,000 shares of $2 par value common stock for $150,000.…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February…

A: Treasury stock refers to the stock reacquired by the company and company pays cash to acquired these…

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

A: The weighted Average number of shares is determined by multiplying the number of shares outstanding…

Q: At January 1, 2020, Teal Company’s outstanding shares included the following. 276,000 shares of…

A: Notes: 1) Net income available for common shareholders = Net Income - Preferred Share Dividend =…

Q: At December 31, 2021 and 2020, P Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100…

A: Basic EPS = Net income (-) preferred dividend / common shares Preferred dividend = 5000 shares *…

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: Sheridan Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: Value of preferred stock=Number ofshares×Par value=2050×$50=$102,500

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

A: As you have posted multiple independent questions, we are answering the first three questions.…

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

A: Weighted average number of shares = sum of (Time adjustment * No. 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: 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: 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: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…

A: The stock dividend does not effect the total shareholders equity of the business as retained…

Q: At the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding.…

A: Solution:  Introduction:  Share of stock represents both Common and Preferred stock of capital which…

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 beginning of 2019, Hardin Company had 300,000 shares of $10 par common stock outstanding.…

A: Date Outstanding x Effect of the stock dividend x Effect of split x Fraction of period = Weighted…

Q: At January 1, 2020, Buffalo Company’s outstanding shares included the following. 298,000 shares of…

A: Earning per share is the ratio of earnings per outstanding share of common stock. Weighted average…

Q: On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common…

A: Partial Balance Sheet as of March 31 Stockholder's Equity   Paid in Capital   Capital Stock:…

Q: On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts.…

A: Common Stock: [Common stock – treasury stock] x  2 in 1 stock split [253000 – 5300] x 2/1 495,400 x…

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.