Homework Answers
Please find attached computation and explanation based on which EPS for questions 1, 2 & 3 are computed:
Please find attached answer table for questions 1 , 2 & 3 as below:
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Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table 1. Based on information above and Nl information below, find Basic EPS as reported in financial...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table. 1. Based on information above and Nl information below, find Basic EPS as reported in financial...
The Alford Group had 240,000 shares of common stock outstanding at January 1, 2021. The following...
The Alford Group had 240,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 30,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 120,000 new shares. Dec. 31 Net income for 2021 is $1,495,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock split. Dec. 31 Net income for 2022 is...
Exercise 19-13 (Algo) EPS; treasury stock; new shares; stock dividends; two years [LO19-5, 19-6] The Alford...
Exercise 19-13 (Algo) EPS; treasury stock; new shares; stock dividends; two years [LO19-5, 19-6] The Alford Group had 330,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 27,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 108,000 new shares. Dec. 31 Net income for 2021 is $642,000. 2022 Jan. 15...
i think i got it wrong, if you can please help ty The Alford Group had 240,000 shares of common stock outstanding at Jan...
i think i got it wrong, if you
can please help ty
The Alford Group had 240,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 30,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 120,000 new shares. Dec. 31 Net income for 2021 is $1,495,000. 2022 Jan. 15 Declared and...
On December 31, 2020, Ainsworth, Inc., had 500 million shares of common stock outstanding. Twenty three...
On December 31, 2020, Ainsworth, Inc., had 500 million shares of common stock outstanding. Twenty three million shares of 7%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2021. On April 30, 2021, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31. Ainsworth issued a 4% common stock dividend on June 12, 2021. No cash dividends were declared in 2021. For the year ended...
Earnings per Share The 2018 balance sheet for Guthrie Corporation revealed the following information: Common stock,...
Earnings per Share The 2018 balance sheet for Guthrie Corporation revealed the following information: Common stock, $10 par, 50,000 shares issued and outstanding Preferred stock, $100 par, 6%, cumulative stock, 1,000 shares issued and outstanding During 2019, Guthrie reported net income of $225,000 and engaged in the following stock transactions: Mar. 1 Issued 10,000 shares of common stock for cash. Apr. 1 Reacquired 2,000 shares of common stock as treasury stock. Aug. 1 Resold 1,000 shares of treasury stock for...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
AC313 On December 31, 2021, the Rusty Inc. had 105,000 shares of common stock issued and...
AC313
On December 31, 2021, the Rusty Inc. had 105,000 shares of common stock issued and outstanding. On July 1, 2022, the company sold 21,000 additional shares for cash. Rusty's net income for the year ended December 31, 2022, was $660,000. During 2022, Rusty declared and paid $74,000 in cash dividends on its nonconvertible preferred stock. What is the 2022 basic earnings per share? (Round your answer to 2 decimal places.) Multiple Choice o O None of these answer choices...
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...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table 1. Based on information above and Nl information below, find Basic EPS as reported in financial...
Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table. 1. Based on information above and Nl information below, find Basic EPS as reported in financial...
The Alford Group had 240,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 30,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 120,000 new shares. Dec. 31 Net income for 2021 is $1,495,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock split. Dec. 31 Net income for 2022 is...
Exercise 19-13 (Algo) EPS; treasury stock; new shares; stock dividends; two years [LO19-5, 19-6] The Alford Group had 330,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 27,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 108,000 new shares. Dec. 31 Net income for 2021 is $642,000. 2022 Jan. 15...
i think i got it wrong, if you
can please help ty
The Alford Group had 240,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 30,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 120,000 new shares. Dec. 31 Net income for 2021 is $1,495,000. 2022 Jan. 15 Declared and...
On December 31, 2020, Ainsworth, Inc., had 500 million shares of common stock outstanding. Twenty three million shares of 7%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2021. On April 30, 2021, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31. Ainsworth issued a 4% common stock dividend on June 12, 2021. No cash dividends were declared in 2021. For the year ended...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
AC313
On December 31, 2021, the Rusty Inc. had 105,000 shares of common stock issued and outstanding. On July 1, 2022, the company sold 21,000 additional shares for cash. Rusty's net income for the year ended December 31, 2022, was $660,000. During 2022, Rusty declared and paid $74,000 in cash dividends on its nonconvertible preferred stock. What is the 2022 basic earnings per share? (Round your answer to 2 decimal places.) Multiple Choice o O None of these answer choices...
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...
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