FINANCIAL ACCT.:TOOLS...(LL)-W/ACCESS
8th Edition
ISBN: 9781119250913
Author: Kimmel
Publisher: WILEY
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Chapter 11, Problem 11.15E
(a)
To determine
the company’s net income for 2016and 2017.
(b)
To determine
To Compute: the return on common
(c)
To determine
To Compute: the debt to assets ratio for 2016 and 2017.
(d)
To determine
To discuss: the impact of the borrowing on the company’s profitability and solvency.
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Gwinnett Park Co. reported net income of $253,300 for its fiscal year ended September 30, 2017. At the beginning of that year, 150,000 shares of common stock were outstanding. On February 1, 2017, an additional 30,000 shares were issues. On September 1, 2017, 12,000 shares were purchased as treasury stock. During the year, the company paid the annual dividend on 7,000 shares of its 8%, $60 par value preferred stock that were outstanding during the entire fiscal year.
Calculate the basic earnings per share of common stock for the year ended September 30, 2017.
Calculate weighted-average number of shares of common stock outstanding during the fiscal year ended September 30, 2017.
Bedard Corporation reported net income of $300,000 in 2017 and had 200,000 shares of common stock outstanding throughout the year. Also outstanding all year were 45,000 options to purchase common stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share.
FRANCE, INC. began operations in January 2016, and reported the following results for each of its three years of operations.
2016 P300,000 net loss
2017 30,000 net loss
2018 3,950,000 net income
At December 31, 2018, the company's capital accounts were as follows:
5% cumulative preference shares, par value P100; authorized, 100,000 shares; issued and outstanding, 60,000 shares P6,000,000
Ordinary shares, par value P10; authorized, 1,000,000 shares; issued and outstanding, 800,000 shares 8,000,000
France, Inc. has never paid a cash or stock dividend and there has been no change in the capital accounts since it began operations.
Assume that the preference shares have a liquidation value of P105 per share.
Compute for the book value on prefrence shares for December 31, 2018 and book value on ordinary shares for December 31, 2018
Chapter 11 Solutions
FINANCIAL ACCT.:TOOLS...(LL)-W/ACCESS
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Prob. 4QCh. 11 - Prob. 5QCh. 11 - Prob. 6QCh. 11 - Prob. 7QCh. 11 - Which is the boiler investmentcommon stock with a...Ch. 11 - Prob. 9QCh. 11 - Prob. 10Q
Ch. 11 - Prob. 11QCh. 11 - Prob. 12QCh. 11 - Indicate how each of these accounts should be...Ch. 11 - What three conditions must be met before a cash...Ch. 11 - Prob. 15QCh. 11 - Prob. 16QCh. 11 - Prob. 17QCh. 11 - Prob. 18QCh. 11 - Prob. 19QCh. 11 - Prob. 20QCh. 11 - Prob. 21QCh. 11 - Prob. 22QCh. 11 - Prob. 23QCh. 11 - Prob. 24QCh. 11 - Prob. 25QCh. 11 - Prob. 26QCh. 11 - Prob. 11.1BECh. 11 - Prob. 11.2BECh. 11 - Prob. 11.3BECh. 11 - Prob. 11.4BECh. 11 - Prob. 11.5BECh. 11 - Prob. 11.6BECh. 11 - Prob. 11.7BECh. 11 - Prob. 11.8BECh. 11 - Prob. 11.9BECh. 11 - Prob. 11.10BECh. 11 - Prob. 11.11BECh. 11 - Prob. 11.12BECh. 11 - Prob. 11.1DIECh. 11 - Prob. 11.2ADIECh. 11 - Prob. 11.2BDIECh. 11 - Prob. 11.3ADIECh. 11 - Prob. 11.3BDIECh. 11 - Prob. 11.4ADIECh. 11 - Prob. 11.4BDIECh. 11 - Prob. 11.1ECh. 11 - Prob. 11.2ECh. 11 - Prob. 11.3ECh. 11 - Prob. 11.4ECh. 11 - Prob. 11.5ECh. 11 - Prob. 11.6ECh. 11 - Prob. 11.7ECh. 11 - Prob. 11.8ECh. 11 - Prob. 11.9ECh. 11 - Prob. 11.10ECh. 11 - Prob. 11.11ECh. 11 - Prob. 11.12ECh. 11 - Prob. 11.13ECh. 11 - Prob. 11.14ECh. 11 - Prob. 11.15ECh. 11 - Prob. 11.16ECh. 11 - Prob. 11.1APCh. 11 - Prob. 11.2APCh. 11 - Prob. 11.3APCh. 11 - Prob. 11.4APCh. 11 - Prob. 11.5APCh. 11 - Prob. 11.6APCh. 11 - Prob. 11.7APCh. 11 - Prob. 11.8APCh. 11 - Prob. 11.1CACRCh. 11 - Prob. 11.2CACRCh. 11 - Prob. 11.1EYCTCh. 11 - Prob. 11.2EYCTCh. 11 - Prob. 11.3EYCTCh. 11 - Prob. 11.4EYCTCh. 11 - Prob. 11.5EYCTCh. 11 - DECISION MAKING ACROSS THE ORGANIZATION During a...Ch. 11 - Prob. 11.7EYCTCh. 11 - Prob. 11.8EYCTCh. 11 - Prob. 11.9EYCTCh. 11 - Prob. 11.12EYCTCh. 11 - Prob. 11.1IFRSCh. 11 - Prob. 11.2IFRSCh. 11 - Prob. 11.3IFRSCh. 11 - Prob. 11.4IFRS
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