GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
17th Edition
ISBN: 9781260218831
Author: Libby
Publisher: MCG CUSTOM
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Chapter 11, Problem 11.1AP
1.
To determine
Find the number of shares issued, and outstanding for Corporation D.
2.
To determine
Find the balance in the additional paid-in capital account.
3.
To determine
Find the amount of earnings per share.
4.
To determine
Calculate the amount of total dividend paid during the year.
5.
To determine
Calculate the
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At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data:
Common stock ($10 par value); no changes in account during the year.
Shares authorized: 220,000.
Shares issued: _______ (all shares were issued at $20 per share; $2,120,000 total cash collected).
Treasury stock: 2,000 shares (repurchased at $24 per share).
The treasury stock was acquired after a stock split was announced.
Net income: $198,640.
Dividends declared and paid: $107,120.
Retained earnings beginning balance: $575,000.
Required:
5. In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be reported?
6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, what will be the par value per share? How many shares will be outstanding?
At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data:
Common stock ($10 par value); no changes in account during the year.
Shares authorized: 220,000.
Shares issued: _______ (all shares were issued at $20 per share; $2,120,000 total cash collected).
Treasury stock: 2,000 shares (repurchased at $24 per share).
The treasury stock was acquired after a stock split was announced.
Net income: $198,640.
Dividends declared and paid: $107,120.
Retained earnings beginning balance: $575,000.
Required:
1. Complete the following tabulation:
2. Calculate the balance in the Additional paid-in capital account.
3. What is earnings per share (EPS)?
4. What was the dividend paid per share?
5. In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be reported?
6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, what will be the par value per…
At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data:
Common stock ($10 par value); no changes in account during the year.
Shares authorized: 200,000.
Shares issued:
(all shares were issued at $17 per share; $2,125,000 total cash collected).
Treasury stock: 3,000 shares (repurchased at $20 per share).
The treasury stock was acquired after a stock split was announced.
Net income: $240,340.
Dividends declared and paid: $123,220.
Retained earnings beginning balance: $555,000.
Required:
1. Complete the following tabulation:
2. Calculate the balance in the Additional paid-in capital account.
3. What is earnings per share (EPS)?
4. What was the dividend paid per share?
5. In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be
reported?
6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, what will be the par value per share? How many…
Chapter 11 Solutions
GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Explain each of the following terms: (a)...Ch. 11 - Differentiate between common stock and preferred...Ch. 11 - Explain the distinction between par value and...Ch. 11 - Define additional paid-in capital.Ch. 11 - Prob. 7QCh. 11 - Define treasury stock. Why do corporations acquire...Ch. 11 - How is treasury stock reported on the balance...Ch. 11 - What are the two basic requirements to support the...
Ch. 11 - Prob. 11QCh. 11 - Prob. 12QCh. 11 - Prob. 13QCh. 11 - Prob. 14QCh. 11 - Prob. 15QCh. 11 - Katz Corporation has issued 400,000 shares of...Ch. 11 - Prob. 2MCQCh. 11 - Which of the following statements about stock...Ch. 11 - Prob. 4MCQCh. 11 - Prob. 5MCQCh. 11 - Prob. 6MCQCh. 11 - Prob. 7MCQCh. 11 - Which statement regarding dividends is false? a....Ch. 11 - Prob. 9MCQCh. 11 - Prob. 10MCQCh. 11 - Sources of Equity and Retained Earnings LO11-1...Ch. 11 - Computing the Number of Unissued Shares The...Ch. 11 - Earnings per Share Ratio How is the earnings per...Ch. 11 - Recording the Sale of Common Stock To expand...Ch. 11 - Prob. 11.5MECh. 11 - Determining the Effects of Treasury Stock...Ch. 11 - Determining the Amount of a Dividend Cole Company...Ch. 11 - Prob. 11.8MECh. 11 - Dividend Yield Ratio How is the dividend yield...Ch. 11 - Prob. 11.10MECh. 11 - Prob. 11.11MECh. 11 - Computing Shares Outstanding In a recent annual...Ch. 11 - Computing Number of Shares The charter of Vista...Ch. 11 - Prob. 11.3ECh. 11 - Reporting Stockholders Equity The financial...Ch. 11 - Reporting Stockholders Equity and Determining...Ch. 11 - Finding Amounts Missing from the Stockholders...Ch. 11 - Prob. 11.7ECh. 11 - Reporting Stockholders Equity Ruths Chris...Ch. 11 - Determining the Effects of Transactions on...Ch. 11 - Prob. 11.10ECh. 11 - Prob. 11.11ECh. 11 - Prob. 11.12ECh. 11 - Prob. 11.13ECh. 11 - Preparing the Stockholders Equity Section of the...Ch. 11 - Recording and Analyzing Treasury Stock...Ch. 11 - Prob. 11.16ECh. 11 - Prob. 11.17ECh. 11 - Computing Dividends on Preferred Stock and...Ch. 11 - Prob. 11.19ECh. 11 - Prob. 11.20ECh. 11 - Prob. 11.21ECh. 11 - Prob. 11.22ECh. 11 - Prob. 11.23ECh. 11 - Prob. 11.24ECh. 11 - Prob. 11.25ECh. 11 - Finding Missing Amounts At the end of the year,...Ch. 11 - Preparing the Stockholders Equity Section of the...Ch. 11 - Recording Transactions Affecting Stockholders...Ch. 11 - Prob. 11.4PCh. 11 - Prob. 11.5PCh. 11 - Prob. 11.6PCh. 11 - Analyzing Treasury Stock Transactions Apple Inc....Ch. 11 - Comparing Stock and Cash Dividends Chicago Company...Ch. 11 - Prob. 11.9PCh. 11 - Prob. 11.10PCh. 11 - Recording and Comparing Cash Dividends, Stock...Ch. 11 - Prob. 11.12PCh. 11 - Prob. 11.1APCh. 11 - Prob. 11.2APCh. 11 - Prob. 11.3APCh. 11 - Prob. 11.4APCh. 11 - Recording and Reporting Stockholders Equity...Ch. 11 - Case A: The charter for Rogers, Incorporated,...Ch. 11 - Prob. 1BCOMPCh. 11 - Prob. 1CCOMPCh. 11 - Prob. 1DCOMPCh. 11 - Prob. 11.1CPCh. 11 - Prob. 11.2CPCh. 11 - Prob. 11.3CPCh. 11 - Computing Dividends for an Actual Company A recent...Ch. 11 - Prob. 11.5CPCh. 11 - Prob. 11.6CP
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- Could you please complete the blanks? According to the information above G (* PA11-3 (Static) Finding Missing Amounts [LO 11-2, LO 11-3, LO 11-5] At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, 2; issue price $8 per share. Shares held as treasury stock, 10,000 shares, cost $6 per share. Net income for the current year, $481,000. Common Stock account, $150,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $800,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders equity section of the…arrow_forwardAt December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year).Shares authorized, 5,000,000.Shares issued, ? ; issue price $7 per share.Shares held as treasury stock, 10,500 shares, cost $5 per share.Net income for the current year, $529,300.Common Stock account, $155,000.Dividends declared and paid during the current year, $2 per share.Retained Earnings balance, beginning of year, $850,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.)arrow_forwardAt December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? issue price $9 per share. Shares held as treasury stock, 11,600 shares, cost $7 per share.. Net income for the current year, $410,720. Common Stock account, $144,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $740,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share…arrow_forward
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