Homework Answers
Option 3
When a stock split occurs, the existing shareholders are issued new stocks in proportion to their holding. The stock split has no real an impact on the value of the stock or the company and hence it is neither comprehended as good news nor as bad news. The primary objective of stock split is to make them affordable to small investors and hence they are issued at a lower price.
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Your answer is incorrect. Try again When a stock split occurs, X owners of stock end...
[x] Your answer is incorrect. Try again. Which of the following statements is not true about...
[x] Your answer is incorrect. Try again. Which of the following statements is not true about recognition and subsequent accounting for financial liabilities? O They are initially recognized at their fair value. O After acquisition, they continue to be accounted for at fair value. O After acquisition, they are generally accounted for at amortized cost. Short-term liabilities, such as accounts payable, are usually recorded at their maturity value. Testbank, Question 5 3 Your answer is incorrect. Try again. Regarding zero-interest-bearing...
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 Net income...
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 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 5,400,000 718,800 328,800 165,600 compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share 0.82
A reverse stock split occurs when a company wants to increase the price of its common...
A reverse stock split occurs when a company wants to increase the price of its common stock because the market hasn't recognized the improvements the company has made in achieving profitability. means the company exchanges fewer new shares in place of more older shares. eliminates any previous stock dividend. is more popular in bull markets than in bear markets.
Testbank, Question 3 Your answer is incorrect. Try again. Which of the following statements is not...
Testbank, Question 3 Your answer is incorrect. Try again. Which of the following statements is not true about recognition and subsequent accounting for financial liabilities? O They are initially recognized at their fair value. O After acquisition, they continue to be accounted for at fair value. O After acquisition, they are generally accounted for at amortized cost. O Short-term liabilities, such as accounts payable, are usually recorded at their maturity value dy Testbank, Question 5 Your answer is incorrect. Try...
Question 10 x Your answer is incorrect. Try again. The following data is available for Swifty...
Question 10 x Your answer is incorrect. Try again. The following data is available for Swifty Service Corporation at December 31, 2021: Common stock, par $10 (authorized 30700 shares) Treasury Stock (at cost $15 per share) $241000 900 Based on the data, how many shares of common stock are outstanding? TO 30640 24100 15350 24040
Question 6 x Your answer is incorrect. Try again. Here is the income statement for Myers,...
Question 6 x Your answer is incorrect. Try again. Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income $408,000 218,000 190,000 84,000 $ 106,000 Additional information: 1. 2. 3. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. The market price of Myers...
BACK LET PRENTER VERSION NEXT Problem 6.01 Your answer is incorrect. Try again. Wildhorse, Inc., management...
BACK LET PRENTER VERSION NEXT Problem 6.01 Your answer is incorrect. Try again. Wildhorse, Inc., management expects the company to earn cash flows of $12,500, $15,700, $18,000, and $19,400 over the next four years. If the company uses an 9 percent discount rate, what is the future value of these cash flows at the end of year 4? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values) Future value 56,203.03 Question Attempts: 1 of 2 used...
Your answer is incorrect. Try again. Charles Austin of the controller’s office of Crane Corporation was...
Your answer is incorrect. Try
again.
Charles Austin of the controller’s office of Crane Corporation
was given the assignment of determining the basic and diluted
earnings per share values for the year ending December 31, 2021.
Austin has compiled the information listed below.
1.
The company is authorized to issue 8,000,000 shares of $10 par
value common stock. As of December 31, 2020, 2,000,000 shares had
been issued and were outstanding.
2.
The per share market prices of the common...
Problem 10-2 Incorrect answer. Your answer is incorrect. Try again. Selected accounts included in the property,...
Problem 10-2 Incorrect answer. Your answer is incorrect. Try again. Selected accounts included in the property, plant, and equipment section of Stellar Corporation’s balance sheet at December 31, 2016, had the following balances. Land $426,000 Land improvements 198,800 Buildings 1,562,000 Equipment 1,363,200 During 2017, the following transactions occurred. 1. A tract of land was acquired for $213,000 as a potential future building site. 2. A plant facility consisting of land and building was acquired from Mendota Company in exchange for...
Brief Exercise 11-07 X Your answer is incorrect. Try again. Swifty Corporation has 10,500 shares of...
Brief Exercise 11-07 X Your answer is incorrect. Try again. Swifty Corporation has 10,500 shares of 7%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared in 2020 or 2021. If Swifty wants to pay $400,000 of dividends in 2022, what amount of dividends will common stockholders receive? Dividends allocated to common stock $.....
[x] Your answer is incorrect. Try again. Which of the following statements is not true about recognition and subsequent accounting for financial liabilities? O They are initially recognized at their fair value. O After acquisition, they continue to be accounted for at fair value. O After acquisition, they are generally accounted for at amortized cost. Short-term liabilities, such as accounts payable, are usually recorded at their maturity value. Testbank, Question 5 3 Your answer is incorrect. Try again. Regarding zero-interest-bearing...
X Your answer is incorrect. Try again. Sage Inc. presented the following data. $2,540,000 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 5,400,000 718,800 328,800 165,600 compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share 0.82
Testbank, Question 3 Your answer is incorrect. Try again. Which of the following statements is not true about recognition and subsequent accounting for financial liabilities? O They are initially recognized at their fair value. O After acquisition, they continue to be accounted for at fair value. O After acquisition, they are generally accounted for at amortized cost. O Short-term liabilities, such as accounts payable, are usually recorded at their maturity value dy Testbank, Question 5 Your answer is incorrect. Try...
Question 10 x Your answer is incorrect. Try again. The following data is available for Swifty Service Corporation at December 31, 2021: Common stock, par $10 (authorized 30700 shares) Treasury Stock (at cost $15 per share) $241000 900 Based on the data, how many shares of common stock are outstanding? TO 30640 24100 15350 24040
Question 6 x Your answer is incorrect. Try again. Here is the income statement for Myers, Inc. Myers, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses (including $10,000 interest and $21,500 income taxes) Net income $408,000 218,000 190,000 84,000 $ 106,000 Additional information: 1. 2. 3. Common stock outstanding January 1, 2020, was 16,000 shares, and 24,000 shares were outstanding at December 31, 2020. The market price of Myers...
BACK LET PRENTER VERSION NEXT Problem 6.01 Your answer is incorrect. Try again. Wildhorse, Inc., management expects the company to earn cash flows of $12,500, $15,700, $18,000, and $19,400 over the next four years. If the company uses an 9 percent discount rate, what is the future value of these cash flows at the end of year 4? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values) Future value 56,203.03 Question Attempts: 1 of 2 used...
Your answer is incorrect. Try
again.
Charles Austin of the controller’s office of Crane Corporation
was given the assignment of determining the basic and diluted
earnings per share values for the year ending December 31, 2021.
Austin has compiled the information listed below.
1.
The company is authorized to issue 8,000,000 shares of $10 par
value common stock. As of December 31, 2020, 2,000,000 shares had
been issued and were outstanding.
2.
The per share market prices of the common...
Brief Exercise 11-07 X Your answer is incorrect. Try again. Swifty Corporation has 10,500 shares of 7%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared in 2020 or 2021. If Swifty wants to pay $400,000 of dividends in 2022, what amount of dividends will common stockholders receive? Dividends allocated to common stock $.....
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