Homework Answers
Solution:
| Computation of weighted average outastanding shares | |||||||
| Date | Number of shares | Stock Dividend Restatement | Stock Split Restatement | No. of months | Total Months | Weighted-average shares | |
| 01-Jan | Shares outstanding | 530000 | 1.25 | 3 | 12 | 12 | 1987500 |
| 01-Feb | Additional Shares issue | 13800 | 1.25 | 3 | 11 | 12 | 47438 |
| 01-Jun | Repurchased shares | -3450 | 3 | 7 | 12 | -6038 | |
| 01-Jul | Additional Shares issue | 4700 | 3 | 6 | 12 | 7050 | |
| 01-Dec | Additional Shares issue | 14100 | 1 | 12 | 1175 | ||
| Total weighted average number of shares outstanding | 2037125 | ||||||
Add Answer to:
Question 3 0/2 View Policies Show Attempt History Current Attempt in Progress X Your answer is...
Larkspur Corporation began its latest fiscal year on January 1, 2021, with 510,000 common shares outstanding....
Larkspur Corporation began its latest fiscal year on January 1, 2021, with 510,000 common shares outstanding. During the year, the following events occurred: • On February 1, Larkspur sold 14,600 additional common shares. The company declared and issued a 25% stock dividend on March 1. On June 1, Larkspur repurchased and cancelled 3,650 common shares. • An additional 5,500 common shares were issued on July 1. • On September 1, Larkspur declared and issued a three-for-one stock split. • On...
Question#2: Ivanhoe Corporation began its latest fiscal year on January 1, 2021, with 500,000 common shares...
Question#2:
Ivanhoe Corporation began its latest fiscal year on January 1, 2021, with 500,000 common shares outstanding. During the year, the following events occurred: • On February 1, Ivanhoe sold 13,800 additional common shares. • The company declared and issued a 25% stock dividend on March 1. • On June 1, Ivanhoe repurchased and cancelled 3,450 common shares. An additional 4,600 common shares were issued on July 1. • On September 1, Ivanhoe declared and issued a three-for-one stock split....
Question 2 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is...
Question 2 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. At January 1, 2020, Martinez Company's outstanding shares included the following. 283,000 shares of $50 par value, 7% cumulative preferred stock 942,000 shares of $1 par value common stock Net income for 2020 was $2,521,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on...
Pina Ltd. began its latest fiscal year on January 1, 2020, with 10,000 common shares outstanding....
Pina Ltd. began its latest fiscal year on January 1, 2020, with 10,000 common shares outstanding. On April 1, Pina sold 3,900 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Pina repurchased and cancelled 170 common shares. An additional 3,750 common shares were issued on September 1. On November 1, Pina declared and issued a 2-for-one stock split. On December 1, Pina issued an additional 100 shares. Following the fiscal...
Grades --/1 Wiley Accounting Weekly Updates Question 2 View Policies Current Attempt in Progress Student Practice...
Grades --/1 Wiley Accounting Weekly Updates Question 2 View Policies Current Attempt in Progress Student Practice and Solutions Manual Wiley CPAexcel Con- tinued Access On January 1, 2021, Sage Corp. had 472,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. Discussions Conferences February 1 March 1 May 1 June 1 October 1 Issued 125,000 shares Issued a 10% stock dividend Acquired 100,000 shares of treasury stock Issued a 3-for-1 stock...
Question 4 0.56/2 View Policies Show Attempt History Current Attempt in Progress On January 1, 2019,...
Question 4 0.56/2 View Policies Show Attempt History Current Attempt in Progress On January 1, 2019, Tamarisk, Inc. had the following stockholders' equity accounts. Common Stock ($12 par value, 75,900 shares issued and outstanding) $910,800 Paid-in Capital in Excess of Par Value-Common Stock 185,000 Retained Earnings 599,000 During the year, the following transactions occurred. Jan. 15 Declared a $1.12 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in...
Question 3 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect....
Question 3 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect. Suppose the following information (in millions of dollars) is available for Limited Brands for a recent year: sales revenue $8,670, net income $244, preferred dividend $0, and weighted average common shares outstanding 400 million. Compute the earnings per share for Limited Brands. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ 0.57 eTextbook and Media Save for Later Attempts: unlimited Submit...
--/1 Question 1 View Policies Current Attempt in Progress Pronghorn Inc. uses a calendar year for...
--/1 Question 1 View Policies Current Attempt in Progress Pronghorn Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,850,000 shares of $12 par common stock. At no time has Pronghorn issued any potentially dilutive securities. Listed below is a summary of Pronghorn's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 3. Shares...
Question 1 0/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2020,...
Question 1 0/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Headland Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Headland common stock. Headland's net income in 2020 was $414,000, and its tax rate was 20%. The company had 92,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round...
0/1 Question 8 View Policies Show Attempt History Current Attempt in Progress X Your answer is...
0/1 Question 8 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. On October 1, 2022, Carla Vista Co. places a new asset into service. The cost of the asset is $85000 with an estimated 5-year life and $22000 salvage value at the end of its useful life. What is the depreciation expense for 2022 if Carla Vista Co. uses the straight-line method of depreciation? $3150. $17000. $4250 o $8500.
Larkspur Corporation began its latest fiscal year on January 1, 2021, with 510,000 common shares outstanding. During the year, the following events occurred: • On February 1, Larkspur sold 14,600 additional common shares. The company declared and issued a 25% stock dividend on March 1. On June 1, Larkspur repurchased and cancelled 3,650 common shares. • An additional 5,500 common shares were issued on July 1. • On September 1, Larkspur declared and issued a three-for-one stock split. • On...
Question#2:
Ivanhoe Corporation began its latest fiscal year on January 1, 2021, with 500,000 common shares outstanding. During the year, the following events occurred: • On February 1, Ivanhoe sold 13,800 additional common shares. • The company declared and issued a 25% stock dividend on March 1. • On June 1, Ivanhoe repurchased and cancelled 3,450 common shares. An additional 4,600 common shares were issued on July 1. • On September 1, Ivanhoe declared and issued a three-for-one stock split....
Question 2 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. At January 1, 2020, Martinez Company's outstanding shares included the following. 283,000 shares of $50 par value, 7% cumulative preferred stock 942,000 shares of $1 par value common stock Net income for 2020 was $2,521,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on...
Grades --/1 Wiley Accounting Weekly Updates Question 2 View Policies Current Attempt in Progress Student Practice and Solutions Manual Wiley CPAexcel Con- tinued Access On January 1, 2021, Sage Corp. had 472,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. Discussions Conferences February 1 March 1 May 1 June 1 October 1 Issued 125,000 shares Issued a 10% stock dividend Acquired 100,000 shares of treasury stock Issued a 3-for-1 stock...
Question 4 0.56/2 View Policies Show Attempt History Current Attempt in Progress On January 1, 2019, Tamarisk, Inc. had the following stockholders' equity accounts. Common Stock ($12 par value, 75,900 shares issued and outstanding) $910,800 Paid-in Capital in Excess of Par Value-Common Stock 185,000 Retained Earnings 599,000 During the year, the following transactions occurred. Jan. 15 Declared a $1.12 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in...
Question 3 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect. Suppose the following information (in millions of dollars) is available for Limited Brands for a recent year: sales revenue $8,670, net income $244, preferred dividend $0, and weighted average common shares outstanding 400 million. Compute the earnings per share for Limited Brands. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ 0.57 eTextbook and Media Save for Later Attempts: unlimited Submit...
--/1 Question 1 View Policies Current Attempt in Progress Pronghorn Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,850,000 shares of $12 par common stock. At no time has Pronghorn issued any potentially dilutive securities. Listed below is a summary of Pronghorn's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 3. Shares...
Question 1 0/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Headland Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Headland common stock. Headland's net income in 2020 was $414,000, and its tax rate was 20%. The company had 92,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round...
0/1 Question 8 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. On October 1, 2022, Carla Vista Co. places a new asset into service. The cost of the asset is $85000 with an estimated 5-year life and $22000 salvage value at the end of its useful life. What is the depreciation expense for 2022 if Carla Vista Co. uses the straight-line method of depreciation? $3150. $17000. $4250 o $8500.
Most questions answered within 3 hours.
-
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 3 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 13 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 13 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 24 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 24 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 27 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 30 minutes ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 32 minutes ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 42 minutes ago -
The phylum Protista has often been referred to as a junk drawer
of classification. Explain what...
asked 48 minutes ago -
The average amount of money spent for lunch per person in the
college cafeteria is $7.09...
asked 51 minutes ago -
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 1 hour ago