Intermediate Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (2nd Edition)
2nd Edition
ISBN: 9780134833101
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Question
Chapter 15, Problem 15.1BE
To determine
To identify: The missing equities in shareholders’ section.
Given information:
Net income is $357 million.
Dividend is worth $45 million.
Common stock at par value in 2018 is $100 million.
Additional paid-up capital in excess of par in 2018 is $1,245 million.
Accumulated other comprehensive income loss in 2019 is $53 million.
Total shareholders’ equity in 2018 is $1,717 million.
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Accounting
Richard Tandy Company reported the following balances at December 31, 2019:
common stock $545,000; paid-in capital in excess of par-common stock
$205,000; retained earnings $340,000. During 2020, the following transactions
affected stockholder's equity.
1.
Issued preferred stock with a par value of $215,000 for $245,000.
2.
Purchased treasury stock (common) for $68,000.
3.
Earned net income of $245,000.
4.
Declared and paid cash dividends of $79,000 ($17,930 preferred).
(b)
X Your answer is incorrect.
Compute Tandy's 2020 return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 15.2%.)
Return on common stockholders' equity
19.4 %
I answered 41.7 before and it is wrong too.. please help
Lyon Company shows the following condensed income statement information for the year ended December 31, 2019:
Income before discontinued operations
$29,936
Less: Loss from discontinued operations loss (net of income tax)
(2,176)
Net income
$27,760
Lyon declared dividends of $6,000 on preferred stock and $17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible.
Required:
1. Compute the 2019 basic earnings per share. If required, round your answer to two decimal places.
Net Income and Comprehensive Income At the beginning of 2019, JR Company's shareholders' equity was as
follows:
Common stock, $5 par
Additional paid-in capital
Retained earnings
$35,000
49,000
63,000
During 2019, the following events and transactions occurred:
1. JR recognized sales revenues of $108,000. It incurred cost of goods sold of $62,000 and operating expenses
of $12,000.
2. JR issued 1,000 shares of its $5 par common stock for $14 per share.
3. JR invested $30,000 in available-for-sale securities. At the end of the year, the securities had a fair value of
$35,000.
4. JR paid dividends of $6,000.
The income tax rate on all items of income is 30%.
Required:
1. Prepare a 2019 income statement for JR which includes net income and comprehensive income (ignore earn-
ings per share).
2. For 2016 prepare a separate (a) income statement (ignore earnings per share) and (b) statement of compre-
hensive income.
Chapter 15 Solutions
Intermediate Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (2nd Edition)
Ch. 15 - Prob. 15.1QCh. 15 - What are the retained earnings of a firm?Ch. 15 - Prob. 15.3QCh. 15 - Prob. 15.4QCh. 15 - Does an entity have to legally dissolve treasury...Ch. 15 - Prob. 15.6QCh. 15 - Prob. 15.7QCh. 15 - Prob. 15.8QCh. 15 - Prob. 15.9QCh. 15 - Prob. 15.10Q
Ch. 15 - Prob. 15.11QCh. 15 - Do firms often use stock dividends to avoid...Ch. 15 - Prob. 15.13QCh. 15 - What is included in other comprehensive income?Ch. 15 - Is a specific format required for reporting...Ch. 15 - Prob. 15.16QCh. 15 - Boone Corporations outstanding capital stock on...Ch. 15 - Prob. 15.2MCCh. 15 - Prob. 15.3MCCh. 15 - Prob. 15.4MCCh. 15 - Prob. 15.5MCCh. 15 - Prob. 15.6MCCh. 15 - Prob. 15.7MCCh. 15 - Prob. 15.1BECh. 15 - Stockholders Equity Terminology, U.S. GAAP, IFRS....Ch. 15 - Common Stock Issuance, No Par Value. Perdido...Ch. 15 - Prob. 15.4BECh. 15 - Prob. 15.5BECh. 15 - Prob. 15.6BECh. 15 - Prob. 15.7BECh. 15 - Prob. 15.8BECh. 15 - Treasury Stock Transactions. Ginger Spice...Ch. 15 - Treasury Stock Transactions. On March 15, Chief...Ch. 15 - Treasury Stock Transactions, Retirement. Using the...Ch. 15 - Prob. 15.12BECh. 15 - Prob. 15.13BECh. 15 - Prob. 15.14BECh. 15 - Common Stock Issuance, Stated Value, Issue Costs....Ch. 15 - Common Stock Issuance. Par Value, Issue Costs,...Ch. 15 - Prob. 15.3ECh. 15 - Prob. 15.4ECh. 15 - Prob. 15.5ECh. 15 - Treasury Stock Transactions, Retirement,...Ch. 15 - Treasury Stock Transactions, Disclosure. The...Ch. 15 - Treasury Stock Transactions. Several years ago,...Ch. 15 - Prob. 15.9ECh. 15 - Prob. 15.10ECh. 15 - Prob. 15.11ECh. 15 - Prob. 15.12ECh. 15 - Preferred Stock Issuance Dividends, Disclosure....Ch. 15 - Prob. 15.14ECh. 15 - Prob. 15.15ECh. 15 - Prob. 15.16ECh. 15 - Prob. 15.17ECh. 15 - Prob. 15.18ECh. 15 - Prob. 15.19ECh. 15 - Prob. 15.20ECh. 15 - Prob. 15.21ECh. 15 - Prob. 15.22ECh. 15 - Prob. 15.1PCh. 15 - Prob. 15.2PCh. 15 - Prob. 15.3PCh. 15 - Prob. 15.4PCh. 15 - Prob. 15.5PCh. 15 - Common Stock Issuance, Treasury Stock, Dividends,...Ch. 15 - Prob. 15.7PCh. 15 - Prob. 15.8PCh. 15 - Prob. 15.9PCh. 15 - Prob. 1JCCh. 15 - Judgment Case 2: Impact of Judgment in Accounting...Ch. 15 - Surfing the Standards Cases Surfing the Standards...Ch. 15 - Prob. 1BCCCh. 15 - Prob. 2BCC
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