Homework Answers
| Earning Per Share | $ 1.21 |
Explanation:
| Events | Dates outstanding | Shares outstanding | stock spilt restatement | no of months/12 months | weighted shares | |
| A | B | C | ( a×b×c) | |||
| Beg.Bal. | Jan 1 - Dec 31 | 718,800 | 2 | 12 | /12 | 1,437,600 |
| Issued share | May1-Aug 1 | 328,800 | 2 | 3 | /12 | 164,400 |
| Reacquired share | Aug1- Dec31 | 165,600 | 2 | 5 | /12 | 138,000 |
| Weighted average no of shares out standing. = 1,740,000 | ||||||
EPS:
= ( Net income - pref div) ÷ weighte avg no of shares
= ( $ 2,540,000 - $ 432,000 ) ÷ 1,740,000
= $ 1.21
Pref Div:
$ 5,400,000 × 8%
= $ 432,000
Add Answer to:
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16.2 #1 PLEASE SHOW ALL WORK
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Exercise 16-18
Swifty Inc. presented the following data.
Net income
$2,340,000
Preferred stock: 53,000 shares outstanding, $100 par, 8%
cumulative, not convertible
5,300,000
Common stock: Shares outstanding 1/1
692,400
Issued for cash, 5/1
321,600
Acquired treasury stock for cash, 8/1
160,800
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal
places, e.g. $2.55.)
Earnings per share
$
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Exercise 16-25 x Your answer is incorrect. Try again. On January 1, 2017, Metlock Company issued...
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Current Attempt in Progress Monty Inc. presented the following data. $2,540,000 Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 5,300,000 686,400 308,400 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
16.2 #1 PLEASE SHOW ALL WORK
Stellar Inc. presented the following data. Net income Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,670,000 5,400,000 712,800 272,400 148,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
Tamarisk Inc. presented the following data. Net income Preferred stock: 51,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,550,000 5,100,000 816,000 318,000 162,000 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
Kingbird Inc. presented the following data. Net income Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,340,000 5,300,000 692,400 321,600 160,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
Exercise 16-18
Swifty Inc. presented the following data.
Net income
$2,340,000
Preferred stock: 53,000 shares outstanding, $100 par, 8%
cumulative, not convertible
5,300,000
Common stock: Shares outstanding 1/1
692,400
Issued for cash, 5/1
321,600
Acquired treasury stock for cash, 8/1
160,800
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal
places, e.g. $2.55.)
Earnings per share
$
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Exercise 16-25 x Your answer is incorrect. Try again. On January 1, 2017, Metlock Company issued 10-year, $1,880,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Metlock common stock. Metlock's net income in 2017 was $294,000, and its tax rate was 40%. The company had 110,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2...
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