EBK FINANCIAL & MANAGERIAL ACCOUNTING
13th Edition
ISBN: 9780100545052
Author: WARREN
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 11.4CP
(a)
To determine
Cash dividends: The amount of cash provided by a corporation out of its distributable profits to its shareholders as a return for the amount invested by them is referred as cash dividends.
To determine: The amount that would be received as quarterly dividend by a person who owns 500 shares of Corporation M.
(b)
To determine
To compute: The percent increase in price of Corporation M’s stock from the previous close to the last trade.
(c)
To determine
The percent change in Corporation M’s market price from the 52-week low to the last trade on November 29, 2013.
(d)
To determine
To identify: The cost of buying Corporation M’s 500 shares at the last trade price, and identify the receiver of the cash.
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Students have asked these similar questions
Use the information in the following stock quote to answer the question:
As of February 1, 2XX1
Name
Symbol
Open
High
Low
Close
Net Chg
Div
Yield
PE
Target
TGT
87.01
87.32
86.75
87.05
-0.32
2.56
2.93
16.76
What was Target’s earnings per share over the last year? (Round your answer to 2 decimal places. (e.g., 32.16))
Stock quotes
Smith Enterprises recently was profiled on a financial information website and touted as a "hot" growth stock. You acquired the stock quote shown here from that website.
Smith Enterprises (NASDAQ: SME)
Last Trade:
51.63
Day’s Range:
47.22 – 51.96
Trade Time:
4:00 PM ET
52wk Range:
25.48 – 60.71
One-Day Stock Return:
10.91%
Volume:
1,419,317
Prev. Close:
46.55
Avg. Vol. (3m):
1,921,518
Open:
47.25
Market Cap:
1.63B
Bid:
N/A
P/E (ttm):
29.50
Ask:
N/A
EPS (ttm):
1y Target Est:
55.40
Div. & Yield:
0.20 (0.40%)
The last trade time is shown to be at 4:00 PM Eastern Time. The abbreviation “ttm” stands for “trailing twelve months,” and the number shown reflects data from the previous 12 months. The abbreviation “3m” reflects data from the previous 3 months.
What exchange does Smith Enterprises trade on?
DAX
AMEX
NASDAQ
FTSE
SME
What is Smith’s earnings per share (EPS) for the trailing…
You've collected the following information from your favorite financial website.
52-Week Price
Div
PE
Close
Net
Hi
Lo
Yld %
Ratio
Price
Stock (Div)
Palm Coal .36
Chg
77.40
10.43
2.6
6
13.90 -.24
55.81
33.42
Lake Lead Grp 1.54
3.8
10
40.43
-.01
130.93
69.50
SIR 2.00
2.2
88.97 3.07
50.37
14.08
DR Dime .93
6.0
15.56 -.26
.18
35.00
20.74
Candy Galore .32
1.5
??
According to your research, the growth rate in dividends for DR Dime for the previous 10
years has been negative 13 percent.
If investors feel this growth rate will continue, what is the required return for DR Dime
stock? (A negative answer should be indicated by a minus sign. Do not round
intermediate calculations and enter your answer as a percent rounded to 2 decimal
places, e.g., 32.16.)
X Answer is complete but not entirely correct.
Required return
-8.80 × %
06808
10
28
Chapter 11 Solutions
EBK FINANCIAL & MANAGERIAL ACCOUNTING
Ch. 11 - Of two corporations organized at approximately the...Ch. 11 - A stockbroker advises a client to buy preferred...Ch. 11 - A corporation with both preferred stock and common...Ch. 11 - An owner of 2,500 shares of Simmons Company common...Ch. 11 - Prob. 5DQCh. 11 - A corporation reacquires 60,000 shares of its own...Ch. 11 - The treasury stock in Discussion Question 7 is...Ch. 11 - What are the three classifications of restrictions...Ch. 11 - Prob. 9DQCh. 11 - Prob. 10DQ
Ch. 11 - Dividends per share National Furniture Company has...Ch. 11 - Dividends per share Zero Calories Company has...Ch. 11 - Entries for issuing stock On August 26, Mountain...Ch. 11 - Entries for issuing stock On January 22, Zentric...Ch. 11 - Entries for cash dividends The declaration,...Ch. 11 - Prob. 11.3BPECh. 11 - Entries for stock dividends Olde Wine Corporation...Ch. 11 - Entries for stock dividends Antique Buggy...Ch. 11 - Entries for treasury stock On January 31,...Ch. 11 - Entries for treasury stock On May 27, Hydro...Ch. 11 - Reporting stockholders equity Using the fallowing...Ch. 11 - Reporting stockholders equity Using the following...Ch. 11 - Retained earnings statement Rockwell Inc. reported...Ch. 11 - Retained earnings statement None Cruises Inc....Ch. 11 - Earnings per share Financial statement data for...Ch. 11 - Earnings per share Financial statement data for...Ch. 11 - Dividends per share Triple Z Inc., a developer of...Ch. 11 - Dividends per share Lightfoot Inc., a software...Ch. 11 - Entries for issuing par stock On April 20,...Ch. 11 - Entries for issuing no-par stock On May 15, Helena...Ch. 11 - Issuing stock for assets other than cash On July...Ch. 11 - Selected stock transactions Alpha Sounds Corp., an...Ch. 11 - Issuing stock Willow Creek Nursery, with an...Ch. 11 - Prob. 11.8EXCh. 11 - Entries for cash dividends The declaration,...Ch. 11 - Entries for stock dividends Senior Life Co. Is an...Ch. 11 - Treasury stock transactions Mystic Lake Inc....Ch. 11 - Prob. 11.12EXCh. 11 - Prob. 11.13EXCh. 11 - Reporting paid-in capital The following accounts...Ch. 11 - Stockholders Equity section of balance sheet The...Ch. 11 - Stockholders Equity section of balance sheet...Ch. 11 - Prob. 11.17EXCh. 11 - Prob. 11.18EXCh. 11 - Prob. 11.19EXCh. 11 - Prob. 11.20EXCh. 11 - Effect of cash dividend and stock split Indicate...Ch. 11 - Selected dividend transactions, stock split...Ch. 11 - Prob. 11.23EXCh. 11 - Prob. 11.24EXCh. 11 - Prob. 11.25EXCh. 11 - Dividends on preferred and common stock Sunbird...Ch. 11 - Stock transactions for corporate expansion On...Ch. 11 - Selected stock transactions The following selected...Ch. 11 - Entries for selected corporate transactions Morrow...Ch. 11 - Entries for selected corporate transactions...Ch. 11 - Prob. 11.1BPRCh. 11 - Stock transaction for corporate expansion Pulsar...Ch. 11 - Selected stock transactions Diamondback Welding ...Ch. 11 - Prob. 11.4BPRCh. 11 - Prob. 11.5BPRCh. 11 - Prob. 11.1CPCh. 11 - Prob. 11.2CPCh. 11 - Issuing stock Epstein Engineering Inc. began...Ch. 11 - Prob. 11.4CPCh. 11 - Prob. 11.5CP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- You've collected the following information from your favorite financial website. 52-Week Price Div PE Close Net Hi 77.40 Lo Stock (DV) Yld % Ratio Price Chg 10.43 Palm Coal .36 2.6 6 13.90 -24 55.81 33.42 Lake Lead Grp 1.54 3.8 10 40.43 -.01 130.93 50.30 35.00 69.50 SIR 2.00 2.2 10 88.97 3.07 14.01 DR Dime .86 5.6 B 20.74 Candy Galore.32 1.5 28 15.49 ?? -.26 .18 According to your research, the growth rate in dividends for DR Dime for the previous 10 years has been negative 12 percent. If investors feel this growth rate will continue, what is the required return for DR Dime stock? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return %arrow_forwardYou've collected the following information from your favorite financial website. 52-Week Price Div PE Close Net Hi Lo Yld % Ratio Price Stock (Div) Palm Coal .42 Chg 78.00 10.49 2.9 6 14.50 -.24 Lake Lead Grp 55.81 33.42 3.8 40.43 -.01 130.93 69.50 SIR 2.00 2.2 88.97 3.07 50.24 13.95 DR Dime .80 5.2 15.43 -.26 35.00 20.74 Candy Galore .32 1.5 ?? .18 According to your research, the growth rate in dividends for Palm Coal for the previous 10 years has been 4 percent. If investors feel this growth rate will continue, what is the required return for Palm Coal stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return % 1.54 6068 10 10 28arrow_forwardcalculate the annual hpr and hpy from the daily stock prices below, please show working outs Exchange Date Close Open 11-Mar-2020 142.28 144.54 10-Mar-2020 142.48 144.64 09-Mar-2020 141.58 148.01 06-Mar-2020 158.01 156.80 05-Mar-2020 161.57 170.47 04-Mar-2020 169.06 171.82 03-Mar-2020 171.27 176.60 02-Mar-2020 173.33 182.78 28-Feb-2020 179.51 179.86 27-Feb-2020 184.28 191.12 26-Feb-2020 193.98 195.24 25-Feb-2020 196.04 202.37 24-Feb-2020 198.70 200.91 21-Feb-2020 205.08 207.29 20-Feb-2020 208.70 205.58 19-Feb-2020 206.99 208.90 18-Feb-2020 207.90 208.20 17-Feb-2020 210.01 212.02 14-Feb-2020 214.13 227.59 13-Feb-2020 229.80 229.00 12-Feb-2020 229.10 224.58 11-Feb-2020 223.57 227.09 10-Feb-2020 222.57 221.76 07-Feb-2020 223.97 225.08 06-Feb-2020 225.78 225.28 05-Feb-2020 222.67 223.07 04-Feb-2020 223.07 219.95 03-Feb-2020 218.14 216.64 31-Jan-2020 219.35 224.37 30-Jan-2020 222.57 219.65 29-Jan-2020 221.96 219.85…arrow_forward
- You've collected the following information from your favorite financial website. 52-Week Price Div PE Close Net Hi Lo Stock (Div) Yld % Ratio Price Chg 77.40 10.43 Palm Coal .36 2.6 6 13.90 -.24 Lake Lead Grp 55.81 33.42 3.8 10 40.43 -.01 130.94 69.55 SIR 2.05 2.3 10 88.98 3.07 50.24 13.95 DR Dime .80 5.2 6 15.43 -.26 35.00 20.74 Candy Galore .32 1.5 28 ?? .18 According to your research, the growth rate in dividends for SIR for the next five years is expected to be 20 percent. Suppose SIR meets this growth rate in dividends for the next five years and then the dividend growth rate falls to 5.25 percent indefinitely. Assume investors require a return of 12 percent on SIR stock. According to the dividend growth model, what should the stock price be today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current stock price Based on these assumptions, is the stock currently overvalued, undervalued, or correctly valued? Stock currently 1.54arrow_forwardQuestions The table shows the value of the FTSE 100 share index over 6-month periods for 2 years. Value (£) 7,147 7,455 7,692 7,668 7,154 Month January 2017 July 2017 January 2018 July 2018 January 2019 If the value of shares held in the FTSE 100 was £2,450 in July 2017, what would it be in July 2018? O O 0 £2 O £2,553 O £2,560 £2,478 £2,505 £2,520 Next »arrow_forward1/1/-1 Completed 1 out of 3 The table contains information about Twitter's stock. When the stock market opened today, at what price was a share of Twitter stock traded? Current price $41.35 $42.50 Open High Low Prev close $42.44 52 week high $45.86 52 week low $26.19 $31.96b 13.70 Mkt cap P/E Ratio $42.67 $40.61 $45.86 $42.50 $41.35 $40.61arrow_forward
- You've collected the following information from your favorite financial website. 52-Week Price Div PE Close Net Hi Lo Stock (Div) Yld % Ratio Price Chg 77.40 10.43 Palm Coal 0.36 2.6 6 13.90 -0.24 Lake Lead Grp 55.81 33.42 3.8 10 40.43 -0.01 1.54 131.04 70.05 SIR 2.55 2.9 10 89.08 3.07 50.24 13.95 DR Dime 0.80 5.2 6 15.43 -0.26 Candy Galore 35.00 20.74 1.5 28 ?? 0.18 0.32 According to your research, the growth rate in dividends for SIR for the next five years is expected to be 21 percent. Suppose SIR meets this growth rate in dividends for the next five years and then the dividend growth rate falls to 5.75 percent indefinitely. Assume investors require a return of 14 percent on SIR stock. (Hint: the number after the company's name above is DO.) Requirement 1: According to the dividend growth model, what should the stock price be today? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Current stock pricearrow_forwardYou've collected the following information from your favorite financial website. 52-Week Price Div PE Close Net Hi Lo Stock (Div) Yld % Ratio Price Chg 64.60 47.80 Abbott 1.12 1.9 235.6 62.91 -.05 145.94 Ralph Lauren 70.28 1.8 70.9 139.71 .62 2.50 171.13 139.13 IBM 6.30 4.3 23.8 145.39 .19 Duke Energy 91.80 71.96 4.9 17.6 74.30 84 3.56 113.19 96.20 Disney 1.68 1.7 15.5 ?? .10 According to your research, the growth rate in dividends for Ralph Lauren for the next 5 years will be .5 percent. If investors feel this growth rate will continue, what is the required return for the company's stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return % 13arrow_forwardWhat is the risk premium for the stock in the table below? The risk free rate is 1.05% and the market risk premium is 5.41%. Apple Inc. (AAPL) NasdageS - Nasdaqes Reat Time Price. Curtency in USD 17 122.41 - 0.83 (-0.67%) At close: December 11 4:00PM EST Summary Company Outlook Chart Stat Conversations Previous Close 123.24 Market Cap 2.081T Open 122.43 Beta (SY Monthly) 1.30 Bid 122.28 x 900 PE Ratio (TIM) 37.32 Ask 122.29 x 800 EPS (TIM) 3.28 Day's Range 120.55 - 122.76 Earnings Date Jan 25, 2021 - 52 Week Range 53.15 - 137.98 Forward Dividend & Yield Feb 01, 2021 0.82 (0.67%) Volume 86,939,786 Ex-Dividend Date Nov 06, 2020 Avg. Volume 125,250,132 Ly Target Est 126.24arrow_forward
- Financial leverage Costco Wholesale Corporation (COST) and Wel-Mart Stroes Inc. (WMT)reported the following data (in milllions) for a recent year: Compute the return on stockholders equity. Round to one decimal place.arrow_forwardUse the given stock table to find sales for the day for ABC Technologies (ABC). 52-Week Yld Vol High SYM Div % PE 100s Close Low Stock 73.30 39.92 ABCTch ABC 2.17 1.3 17 4950 59.85 The sales for the day were shares. Net Chg 1.02arrow_forwardYou've collected the following information from your favorite financial website. 52-Week Price Div Yld PE Close Net Ratio Price Chg Hi Lo Stock (Div) % 77.40 10.43 Palm Coal .36 2.6 6 13.90 .24 55.81 33.42 Lake Lead Grp 1.54 3.8 10 40.43 -.01 130.93 69.50 SIR 2.00 2.2 10 88.97 3.07 50.24 13.95 DR Dime .80 5.2 6 15.43 -.26 .18 35.30 20.77 Candy Galore 0.35 1.5 28 ?? a. Using the dividend yield, calculate the closing price for Candy Galore on this day. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Assume the actual closing price for Candy Galore was $23.02. Your research projects a 4.75 percent dividend growth rate for Candy Galore. What is the required return for the stock using the dividend discount model and the actual stock price? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Stock price b. Required return %arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Financial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage LearningPfin (with Mindtap, 1 Term Printed Access Card) (...FinanceISBN:9780357033609Author:Randall Billingsley, Lawrence J. Gitman, Michael D. JoehnkPublisher:Cengage LearningCornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
- College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305088436/9781305088436_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9780357033609/9780357033609_smallCoverImage.jpg)
Pfin (with Mindtap, 1 Term Printed Access Card) (...
Finance
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning
How To Analyze an Income Statement; Author: Daniel Pronk;https://www.youtube.com/watch?v=uVHGgSXtQmE;License: Standard Youtube License