Brown Fashions Inc.'s December 31, 2018 balance sheet showed total common equity of $4,050,000 and 165,000 shares of stock outstanding. During 2019, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/19, assuming no common stock was either issued or retired during 2019? (Round your final answer to two decimal places.) a. $20.00 b. $32.80 c. $26.67 d. $22.93 e. $23.47
Answer is $26.67
Beginning Book Value = $4,050,000
Net Income = $450,000
Dividends = $100,000
Ending Book Value = Beginning Book Value + Net Income -
Dividends
Ending Book Value = $4,050,000 + $450,000 - $100,000
Ending Book Value = $4,400,000
Book Value per share = Ending Book Value / Number of
Shares
Book Value per share = $4,400,000 / 165,000
Book Value per share = $26.67
Brown Fashions Inc.'s December 31, 2018 balance sheet showed total common equity of $4,050,000 and 165,000...
Brown Fashions Inc.'s December 31, 2014, balance sheet showed total common equity of $4,050,000 and 200,000 shares of stock outstanding. During 2014, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/14, assuming no common stock was either issued or retired during 2014? a. $22.00 b. $20.90 c. $25.47 d. $23.10 e. $24.26
The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed the following: Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2019Contributed capital: Preferred shares, $0.40 cumulative; 80,000 shares authorized; 50,000 shares issued and outstanding$200,000 Common shares; 250,000 shares authorized; 110,000 shares issued and outstanding 176,000 Total contributed capital$376,000 Retained earnings 148,000 Total equity$524,000 During the year 2020, the company had the following transactions affecting equity accounts: Jan.3 Sold 10,000 common...
The December 31, 2018, balance sheet of Whelan, Inc., showed $138,000 in the common stock account and $2,630,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed $148,000 and $2,930,000 in the same two accounts, respectively. The company paid out $143,000 in cash dividends during 2019. What was the cash flow to stockholders for the year? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in...
The December 31, 2018, balance sheet of Whelan, Inc., showed $148,000 in the common stock account and $2,730,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed $158,000 and $3,030,000 in the same two accounts, respectively. The company paid out $153,000 in cash dividends during 2019. What was the cash flow to stockholders for the year? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in...
The December 31, 2018, balance sheet of Whelan, Inc., showed $150,000 in the common stock account and $2,750,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed $160,000 and $3,050,000 in the same two accounts, respectively. The company paid out $155,000 in cash dividends during 2019. What was the cash flow to stockholders for the year? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred Stock, 6%, $15 stated value, 50,000 shares authorized; 10,000 issued and outstanding 150,000 Paid-in capital in excess of stated value-preferred stock 30,000 Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 2,500,000 Paid-in capital in excess of par value-common stock 1,200,000 Retained earnings 600,000 During 2019, the following stock transactions...
The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows: Stockholders' Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth; issued and outstanding 60,000 shares = $600,000 - Paid-in capital in excess of par = $850,000 - Retained earnings = $4,000,000 to The following events occurred during 2019: Jan. 5: 20,000 shares of authorized...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred Stock, 6%, $15 stated value, 50,000 shares authorized; 10,000 issued and outstanding Paid-in capital in excess of stated value-preferred stock Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 150,000 30.000 2,500,000 Paid-in capital in excess of par value-common stock Retained earnings 1,200,000 600,000 During 2019, the following stock transactions occurred: Jan. 18 Issued 5,000 shares of common stock at $30...
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
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