Homework Answers
| COMPUTATION OF WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | ||||
| Event | Dates Outstanding | Shares Outstanding | Fraction of Year | Weighted Shares |
| Beginning balance | Jan. 1–May 1 | 2,00,000 | 04-Dec | 66,667 |
| Issued shares | May 1–Oct. 31 | 2,08,000 | 06-Dec | 1,04,000 |
| Reacquired shares | Oct. 31–Dec. 31 | 1,94,000 | 02-Dec | 32,333 |
| Weighted average number of shares outstanding | 2,03,000 | |||
| Earnings per share: | ||||
| Income per share before extraordinary item | ($249,690 + $40,600 = $290,290; | $1.43 | ||
| $290,290 ÷ 203,000 shares) | ||||
| Extraordinary loss per share, net of tax | ($40,600 ÷ 203,000) | $-0.2 | ||
| Net income per share ($249,690 ÷ 203,000) | $1.23 |
Add Answer to:
E16-17 (L04) (EPS: Simple Capital Structure) Ace Company had 200,000 shares of common stock outstanding on...
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?
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
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?
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...
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...
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)
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...
E16-10 (L03) (Issuance and Exercise of Stock Options) On November 1,2017, Columbo Company adopted stock-option plan...
E16-10 (L03) (Issuance and Exercise of Stock Options) On November 1,2017, Columbo Company adopted stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10par value common stock The oplins were granted on January 2,2018, and were exercisable 2 years after the date of grant if the grante was sill an employe of he company. The options expired 6 years from date of grant. The option price was setat $40, and the fair value option-prig...
LeDuc Construction Ltd. had 60,000 common shares and 20,000 $0.75 preferred shares outstanding on December 31,...
LeDuc Construction Ltd. had 60,000 common shares and 20,000 $0.75 preferred shares outstanding on December 31, 2019. On April 30, 2020, the company issued 6,000 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $70,000, and loss on discontinued operations (net of income tax) was $4,000. Required Compute LeDuc...
on December 31, 2017, Ainsworth, Inc. had 650 million shares of common stock outstanding. Thirty five...
on December 31, 2017, Ainsworth, Inc. had 650 million shares of common stock outstanding. Thirty five million shares of 8%. $100 par value cumulative, nonconvertible preferred stock were sold on January 2 shares of its common stock as treasury stock. Twenty milion treasury shares wer Ainsworth purchased 50 million sold on August 31, Ainsworth issued a 4% common dividend on June 12, 2018 No cash dividends were declared in 2018. For the year ended December 31, 2018, Ainsworth lion, including...
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...
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...
E16-10 (L03) (Issuance and Exercise of Stock Options) On November 1,2017, Columbo Company adopted stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10par value common stock The oplins were granted on January 2,2018, and were exercisable 2 years after the date of grant if the grante was sill an employe of he company. The options expired 6 years from date of grant. The option price was setat $40, and the fair value option-prig...
LeDuc Construction Ltd. had 60,000 common shares and 20,000 $0.75 preferred shares outstanding on December 31, 2019. On April 30, 2020, the company issued 6,000 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $70,000, and loss on discontinued operations (net of income tax) was $4,000. Required Compute LeDuc...
on December 31, 2017, Ainsworth, Inc. had 650 million shares of common stock outstanding. Thirty five million shares of 8%. $100 par value cumulative, nonconvertible preferred stock were sold on January 2 shares of its common stock as treasury stock. Twenty milion treasury shares wer Ainsworth purchased 50 million sold on August 31, Ainsworth issued a 4% common dividend on June 12, 2018 No cash dividends were declared in 2018. For the year ended December 31, 2018, Ainsworth lion, including...
Most questions answered within 3 hours.
-
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 8 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 13 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 14 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 13 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 28 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 35 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 37 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 37 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 55 minutes ago -
Which of the following is an example of a screen against adverse
selection? [Mark All That...
asked 54 minutes ago -
A worker drives a 0.560 kg spike into a rail tie with a 2.76 kg
sledgehammer....
asked 1 hour ago -
Assume the following information concerning two stocks that make
up an index. What is the price-weighted...
asked 1 hour ago