Reporting Stockholder’s EquityBooner Company began business this year and immediately sold 600.000 common shares for $18,000,000 cash and paid $1,000,000 in common dividends. At midyear, the firm brought back some of its own shapes. The company reports the following additional information at year end: Net Income $5,000,000Common stock at par $6,000,000Retained earnings beginning of the year $0Common shares authorized $1,000,000Common shares outstanding $ 550,000 d. Determine the retained earnings amount at the end of the year. e. How many shares of stock are in the treasury at the end of the year? f. Compute the BEPS?
Reporting Stockholder’s EquityBooner Company began business this year and immediately sold 600.000 common shares for $18,000,000 cash and paid $1,000,000 in common dividends. At midyear, the firm brought back some of its own shapes. The company reports the following additional information at year end: Net Income $5,000,000Common stock at par $6,000,000Retained earnings beginning of the year $0Common shares authorized $1,000,000Common shares outstanding $ 550,000 d. Determine the retained earnings amount at the end of the year. e. How many shares of stock are in the treasury at the end of the year? f. Compute the BEPS?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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Reporting Stockholder’s Equity
Booner Company began business this year and immediately sold 600.000 common shares for $18,000,000 cash and paid $1,000,000 in common dividends. At midyear, the firm brought back some of its own shapes. The company reports the following additional information at year end:
Net Income $5,000,000
Common stock at par $6,000,000
Common shares authorized $1,000,000
Common shares outstanding $ 550,000
d. Determine the retained earnings amount at the end of the year.
e. How many shares of stock are in the treasury at the end of the year?
f. Compute the BEPS?
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