Nate Company had 1,000,000 shares of $40 par value common stock. On November 22, 2018s Nate...
Nate Company had 1,000,000 shares of $40 par value common stock. On November 22, 2018s Nate declared a 2-for-1 stock split. As a result of this transaction
| Total equity increased |
| Total equity decreased |
| Total equity remained the same |
|
We cannot determine this information without knowing the market value of the stock. 4.. Net Income 986,000 Preferred Stock Dividends 25,000 Common Stock Dividends 50,000 Average Common Shares outstanding. 1,000,000 Average Preferred Shares outstanding 300,000 What is Leon's Basic Earnings per Share?
|
Homework Answers
Nate Company
Answer: Total equity remained the same.
The 2-for-1 stock split will increase the number of the common stock and decrease the par value of the common stock however, the total equity will remain unchanged.
4. Answer: $0.96
Basic Earnings per Share = (Net income – Preferred stock dividends)/Average common shares outstanding = ($986000 - $25000)/1000000 = $961000/1000000 = $0.961 = $0.96
Answer: In the “Other gain/loss” section of the Income Statement.
Unrealized gains or losses for marketable equity securities are reported in the income statement under other gain/loss.
19. Answer: $736,000
Investment on December 31, 2012 balance sheet = (60000 x $11.50) - $80000 + (30% x $420000) = $690000 - $80000 + $126000 = $736000.
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Nate Company had 1,000,000 shares of $40 par value common stock.
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