Homework Answers
| Date | Particulars | Number of shares (a) | Stock Split (b) | No of months (c ) | Total Months (d) | Weighted-average shares (a * b * c / d) |
| Jan. 1 | Outstanding Shares | 200,000 | 2 | 12 | 12 | 400,000 |
| Aprl. 1 | Shares Issue | 120,000 | 2 | 9 | 12 | 180,000 |
| Jul. 1 | Shares Issue | 60,000 | 2 | 6 | 12 | 60,000 |
| Oct. 1 | Repurchased shares | -20,000 | 2 | 3 | 12 | -10,000 |
| Total Weighted average shares for the year to be used in earnings per share calculations | 630,000 | |||||
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1. (20 pts) Altoona Company began the year with 200,000 shares of $5 par common stock....
1. (20 pts) Altoona Company began the year with 200,000 shares of $5 par common stock....
1. (20 pts) Altoona Company began the year with 200,000 shares of $5 par common stock. On April 1, they issued 120,000 shares. On July 1, they issued 60,000 shares. On September 1, Altoona experienced a 2 for 1 stock split, and on October 1, they repurchased 20,000 shares and placed them in the treasury. Prepare a schedule showing the weighted average shares for the year to be used in earnings per share calculations.
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...
E7-1 Suppose a company had 100,000 shares authorized, 60,000 shares issued, and no shares in treasury...
E7-1 Suppose a company had 100,000 shares authorized, 60,000 shares issued, and no shares in treasury as of January 1st. If the company had the stock transactions indicated below during the year, how many shares would be outstanding as of December 31st? • February 15th - repurchased 2,000 shares for treasury April 30th - declared a 20% stock dividend • July 1st - repurchased another 1,000 shares for treasury September 30th - declared a 3-for-1 stock split
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...
1) Bill issued 200,000 shares of $2 par value stock. The book value of Bill’s common...
1) Bill issued 200,000 shares of $2 par value stock. The book value of Bill’s common stockholders' equity is equal to $20 million. On August 1, he implements a two-for-one stock split. After the stock split, the total number of shares outstanding is 400000 shares, the total par value is $1 and the total book value is $20 million. Assuming the market price per share of Bill’s stock was $150/share before the split, what should be the market price per...
At the beginning of 2019, Hardin Company had 230,000 shares of $10 par common stock outstanding....
At the beginning of 2019, Hardin Company had 230,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 43,000 shares of stock at $20 per share. June 1 Issued a 10% stock dividend. July 1 Issued 8,000 shares of stock at $25 per share. Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. Oct. 31 Reacquired...
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding...
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $175,000 135,000 340,000 $650,809 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $206,000 178,400 400,000 784,400 (60,000) $724,400 Less cost of treasury stock Total...
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....
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ?...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2017. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares. Required: Calculate the weighted average number of common shares outstanding for purposes of computing Mason's 2017 basic earnings per share. (Amounts to be deducted should be...
1. (20 pts) Altoona Company began the year with 200,000 shares of $5 par common stock. On April 1, they issued 120,000 shares. On July 1, they issued 60,000 shares. On September 1, Altoona experienced a 2 for 1 stock split, and on October 1, they repurchased 20,000 shares and placed them in the treasury. Prepare a schedule showing the weighted average shares for the year to be used in earnings per share calculations.
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...
E7-1 Suppose a company had 100,000 shares authorized, 60,000 shares issued, and no shares in treasury as of January 1st. If the company had the stock transactions indicated below during the year, how many shares would be outstanding as of December 31st? • February 15th - repurchased 2,000 shares for treasury April 30th - declared a 20% stock dividend • July 1st - repurchased another 1,000 shares for treasury September 30th - declared a 3-for-1 stock split
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $175,000 135,000 340,000 $650,809 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $206,000 178,400 400,000 784,400 (60,000) $724,400 Less cost of treasury stock Total...
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....
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2017. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares. Required: Calculate the weighted average number of common shares outstanding for purposes of computing Mason's 2017 basic earnings per share. (Amounts to be deducted should be...
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