Homework Answers
| Answer is 13,200 shares outstanding | |
| As per HOMEWORKLIB RULES we answer one question per post. | |
| Statement showing Computations | |
| Particulars | Amount |
| Shares Outstanding at beginning | 10,000.00 |
| Add Issue of shares in Feb | 2,000.00 |
| Add Stock Dividend in Sep = 12000*10% | 1,200.00 |
| Shares Outstanding at end | 13,200.00 |
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At January 1, the beginning of the year, a company had 10,000 common shares outstanding. On...
Accountancy
Armstrong Corporation has the following shareholders' equity on December 31, 2021:Shareholders' equityShare capital$10 convertible preferred shares,10,000 shares authorized, 5,000 shares issued$570,000Common shares,200,000 shares authorized, 90,000 shares issued1,800,000Total share capital2,370,000Retained earnings450,000Total shareholders' equity$2,820,000If 10,000 common shares were reacquired for $24 per share, the journal entry to record the transaction wouldcredit Contributed Surplus–Reacquisition of Shares for $40,000.credit Retained Earnings for $40,000.credit Common Shares for $240,000.debit Common Shares for $200,000.
Exercise 17-4 (Part Level Submission) On January 1, 2020, Wildhorse Limited had shares outstanding as follows:...
Exercise 17-4 (Part Level Submission) On January 1, 2020, Wildhorse Limited had shares outstanding as follows: 7% cumulative preferred shares, $100 par value, 10,400 shares issued and outstanding $1,040,000 Common shares, 208,000 shares issued and outstanding 2,080,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 311,000 common shares. The acquisitions were as follows: Date of Acquisition Company A: April 1, 2020 Company B: July 1, 2020 Company C: October 1, 2020...
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company...
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company has no preferred stock. The company's earnings per share is: Multiple Choice $5.00 $3.71. $3.59 $1.39. $3.65 Authorized shares 28,000 Issued shares 23,000 7,500 Treasury shares The number of outstanding shares is: Multiple Choice 28,000. 35,500 23,000. 20,500. Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 24,000 shares authorized 11,400 shares issued, and 9,600 shares of...
Hello, I need some help with an accounting problem. Wildhorse Corporation had 118,000 common shares outstanding...
Hello, I need some help with an accounting problem. Wildhorse Corporation had 118,000 common shares outstanding on December 31, 2019. During 2020, the company issued 14,000 shares on March 1, retired 6,500 shares on July 1, issued a 20% stock dividend on October 1, and issued 21,300 shares on December 1. For 2020, the company reported net income of $472,000 after a loss from discontinued operations of $67,600 (net of tax). The company issued a 2-for-1 stock split on February...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $8 par, 10,000 shares authori...
The following information pertains to JAE Corp. at January 1,
2018:
Common stock, $8 par, 10,000 shares authorized, 2,000 shares
issued and outstanding
$
16,000
Paid-in capital in excess of par, common stock
13,200
Retained earnings
60,800
JAE Corp. completed the following transactions during 2018:
Issued 850 shares of $8 par common stock for $27 per
share.
Repurchased 250 shares of its own common stock for $24 per
share.
Resold 50 shares of treasury stock for $25 per share.
Required:...
Problem 2 L Company had 500,000 shares of common stock outstanding on January 1, 2021. During...
Problem 2 L Company had 500,000 shares of common stock outstanding on January 1, 2021. During 2021, it had the following transactions that affected the common stock account: • February 1st - issued 90,000 shares March 1st – issued a 10% stock dividend • June 1st – issued a 2-for-1 stock split Required: a. Determine the weighted average number of shares outstanding as of December 31, 2021 (round to whole numbers). b. Assume that L Company had net income of...
12-4A $1,560,000 462,000 $2,022,000 Contributed capital Preferred shares. $17 cumulative, issued, and outstanding....... Common shares, unlimited...
12-4A
$1,560,000 462,000 $2,022,000 Contributed capital Preferred shares. $17 cumulative, issued, and outstanding....... Common shares, unlimited shares authorized, 40.000 shares issued and outstanding Total contributed capital vertible into common a referred are converted int ity section of the balan Retained earings Total equity balance shoes he company plans to pay quired Refer to the equity section above. Assume that the preferred are convertible of eight common shares for each share of preferred. If on April 1, 2020, prepare the entry...
On January 1, 2020, Wildhorse Ltd. had 522,000 common shares outstanding. During 2020, it had the...
On January 1, 2020, Wildhorse Ltd. had 522,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Issued 154,000 shares. Mar. 1 Issued a 20% stock dividend. May 1 Acquired 174,000 common shares and retired them. June 1 Issued a 2-for-1 stock split. Oct. 1 Issued 43,000 shares. The company’s year end is December 31. Part 1 Incorrect answer iconYour answer is incorrect. Determine the weighted average number of shares outstanding...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
Whispering Company had 187,200 shares of common stock outstanding on December 31, 2018. During the year...
Whispering Company had 187,200 shares of common stock outstanding on December 31, 2018. During the year 2019, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2019, Whispering Company reported net income of $265,300 after a loss from discontinued operations of $42,700 (net of tax). What earnings per share data should be reported at the bottom of its income statement?
Exercise 17-4 (Part Level Submission) On January 1, 2020, Wildhorse Limited had shares outstanding as follows: 7% cumulative preferred shares, $100 par value, 10,400 shares issued and outstanding $1,040,000 Common shares, 208,000 shares issued and outstanding 2,080,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 311,000 common shares. The acquisitions were as follows: Date of Acquisition Company A: April 1, 2020 Company B: July 1, 2020 Company C: October 1, 2020...
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company has no preferred stock. The company's earnings per share is: Multiple Choice $5.00 $3.71. $3.59 $1.39. $3.65 Authorized shares 28,000 Issued shares 23,000 7,500 Treasury shares The number of outstanding shares is: Multiple Choice 28,000. 35,500 23,000. 20,500. Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 24,000 shares authorized 11,400 shares issued, and 9,600 shares of...
The following information pertains to JAE Corp. at January 1,
2018:
Common stock, $8 par, 10,000 shares authorized, 2,000 shares
issued and outstanding
$
16,000
Paid-in capital in excess of par, common stock
13,200
Retained earnings
60,800
JAE Corp. completed the following transactions during 2018:
Issued 850 shares of $8 par common stock for $27 per
share.
Repurchased 250 shares of its own common stock for $24 per
share.
Resold 50 shares of treasury stock for $25 per share.
Required:...
Problem 2 L Company had 500,000 shares of common stock outstanding on January 1, 2021. During 2021, it had the following transactions that affected the common stock account: • February 1st - issued 90,000 shares March 1st – issued a 10% stock dividend • June 1st – issued a 2-for-1 stock split Required: a. Determine the weighted average number of shares outstanding as of December 31, 2021 (round to whole numbers). b. Assume that L Company had net income of...
12-4A
$1,560,000 462,000 $2,022,000 Contributed capital Preferred shares. $17 cumulative, issued, and outstanding....... Common shares, unlimited shares authorized, 40.000 shares issued and outstanding Total contributed capital vertible into common a referred are converted int ity section of the balan Retained earings Total equity balance shoes he company plans to pay quired Refer to the equity section above. Assume that the preferred are convertible of eight common shares for each share of preferred. If on April 1, 2020, prepare the entry...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
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