ZuoTi.Pro
Question

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?

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
Earnings per share:
Income before Extraordinary Item $1.62
($265,300 + $42,700) ÷ 190,200 shares
Extraordinary loss -$0.22
$42,700 ÷ 190,200 shares
Net income $1.39
Working
Event Dates Outstanding Shares Outstanding Fraction of Year Weighted Shares
Beginning balance Jan. 1–May 1         187,200 4/12        62,400
Issued shares May 1–Oct. 31         195,200 6/12        97,600
Reacquired shares Oct. 31–Dec. 31         181,200 2/12        30,200
Weighted average number of shares outstanding       190,200
0 1
Add a comment
Know the answer?
Add Answer to:
Whispering Company had 187,200 shares of common stock outstanding on December 31, 2018. During the year...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Exercise 16-17 Sandhill Company had 189,600 shares of common stock outstanding on December 31, 2018. During...

    Exercise 16-17 Sandhill Company had 189,600 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, Sandhill Company reported net income of $246,900 after a loss from discontinued operations of $40,300 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to 2 decimal places, e.g. $2.55.) Sandhill...

  • Sanders Company had 200,000 shares of common stock outstanding on December 31, 2016. During the year...

    Sanders Company had 200,000 shares of common stock outstanding on December 31, 2016. During the year 2017, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2017, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax) What earnings per share data should be reported at the bottom of its income statement?

  • E16-17 (L04) (EPS: Simple Capital Structure) Ace Company had 200,000 shares of common stock outstanding on...

    E16-17 (L04) (EPS: Simple Capital Structure) Ace Company had 200,000 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, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax). Instructions What earnings per share data should be reported at the bottom of its income statement?

  • ce Company had 200,000 shares of common stock outstanding on Dec 31,2015. During the year 2016,...

    ce Company had 200,000 shares of common stock outstanding on Dec 31,2015. During the year 2016, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2016, Ace Company reported net income of 249,690 after a casualty loss of $40,600 (net of tax). What earnings per share data should be reported at the bottom of its income statement, assuming that the

  • Question 1 View Policies Current Attempt in Progress Metlock Company had 205,200 shares of common stock...

    Question 1 View Policies Current Attempt in Progress Metlock Company had 205,200 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Metlock Company reported net income of $238,500 after a loss from discontinued operations of $43,100 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to...

  • 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...

  • Josh Company had 200,000 ordinary shares outstanding on December 31, 2017. The company issued 20,...

    Josh Company had 200,000 ordinary shares outstanding on December 31, 2017. The company issued 20,000 shares on April 1, 2018 and retired 10,000 shares on September 1, 2018. Josh company recorded net income for the year ended December 31, 2018 of $300,000 after a loss on discontinued operations of $35,000 (net of tax). Calculate EPS (Earnings per share)

  • On January 1, 2018, Wildhorse Corp. had 472,000 shares of common stock outstanding. During 2018, it...

    On January 1, 2018, Wildhorse Corp. had 472,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 100,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. Assume that Wildhorse Corp. earned net income...

  • On December 31, 2017, Ainsworth, Inc., had 550 million shares of common stock outstanding. Eighteen million...

    On December 31, 2017, Ainsworth, Inc., had 550 million shares of common stock outstanding. Eighteen million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2018. On April 30, 2018, 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, 2018. No cash dividends were declared in 2018. For the year ended December...

  • A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018,...

    A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 117,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 101,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 62,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT