Dally Cleaners reported the following information at December 31, 2018: Common stock, $2 par, 300
Dally Cleaners reported the following information at December 31, 2018:
Common stock, $2 par, 300,000 shares
authorized
80,000
Additional paid-in
capital
1,200,000
Retained
earnings
5,600,000
Total
$6,880,000
Less: Treasury
stock (2,000 common shares at
cost)
68,000
Total Stockholders'
Equity
$6,948,000
Net Income
$845,000
Answer the following questions for Dally Cleaners in the space provided:
- How many shares of common stock are authorized? _____________
- How many shares of common stock are issued? _____________
- How many shares of common stock are outstanding? _____________
- How many of the common shares will receive dividends
when they are paid? _____________
- How much did Dally Cleaners pay for each share of Treasury stock? _____________
- If a total of $44,800 dividends are paid, how much will
shareholders receive per share? _____________
- What is the total amount of contributed capital at December 31, 2018? _____________
- Calculate the EPS (Earnings per share) for 2018. _____________
- Calculate the Price/Earning ratio if each share was selling for $80.75/share. _________
Homework Answers
Add Answer to:
Dally Cleaners reported the following
information at December 31, 2018:
Common stock, $2 par, 300
ilings Review View Help Tell me what you want to do AaBbCcI AaBbCcl naBbC AaB Normal...
ilings Review View Help Tell me what you want to do AaBbCcI AaBbCcl naBbC AaB Normal TNo Spac. 1 Headin Paragraph Styles Dally Cleaners reported the following information at December 31,2018: Common stock, $2 par, 300,000 shares authorized Additional paid-in capital Retained earnings 80,000 1,200,000 Total $6,880,000 68,000 Less: Treasury stock (2,000 common shares at cost) Total Stockholders' Equity Net Income $845,000 Answer the following questions for Daly Cleaners in tke space provided 1. How many shares of common stock...
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The following transactions affect stockholders’ equity during
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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
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ilings Review View Help Tell me what you want to do AaBbCcI AaBbCcl naBbC AaB Normal TNo Spac. 1 Headin Paragraph Styles Dally Cleaners reported the following information at December 31,2018: Common stock, $2 par, 300,000 shares authorized Additional paid-in capital Retained earnings 80,000 1,200,000 Total $6,880,000 68,000 Less: Treasury stock (2,000 common shares at cost) Total Stockholders' Equity Net Income $845,000 Answer the following questions for Daly Cleaners in tke space provided 1. How many shares of common stock...
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and $1 par value common. As of the beginning of 2018, 125 shares of
preferred stock and 1,100 shares of common stock have been issued.
The following transactions affect stockholders’ equity during
2018:
March 1 Issue 1,100 additional shares of common stock for $11
per share.
April 1 Issue 175 additional shares of preferred stock for $21
per share.
June 1 Declare a cash dividend on both common and preferred...
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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
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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.
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