Chapter 17 Weighted Average Number of Shares
Wildhorse Inc. has 336,000 common shares outstanding throughout the year. On June 30, Wildhorse issued 6,700 convertible preferred shares that are convertible into 2 common shares each.
Calculate the weighted average number of common shares to use in calculating the diluted EPS. Assume that the preferred shares are dilutive.
| Weighted average number of shares |
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Alciatore Company reported a net income of $150,000 in 2018. The weighted-average number of common shares...
Alciatore Company reported a net income of $150,000 in 2018. The
weighted-average number of common shares outstanding for 2018 was
40,000. The average stock price for 2018 was $33. Assume an income
tax rate of 40%. Required: For each of the following independent
situations, indicate whether the effect of the security is
antidilutive for diluted EPS.
Alciatore Company reported a net income of $150,000 in 2018. The weighted-average number of common shares outstanding for 2018 was 40,000. The average stock...
Alciatore Company reported a net income of $150,000 in 2018. The weighted average number of common shares outstanding f...
Alciatore Company reported a net income of $150,000 in 2018. The weighted average number of common shares outstanding for 2018 was 40,000. The average stock price for 2018 was $33. Assume an income tax rate of 40%. Required: For each of the following independent situations, indicate whether the effect of the security is antidilutive for diluted EPS. 10,000 shares of 7.7% of $100 par convertible, cumulative preferred stock. Each share may be converted into two common shares. 8% convertible 10-year,...
10. Costco had $4,000,000 of net income for 2017, with a weighted-average number of common shares...
10. Costco had $4,000,000 of net income for 2017, with a weighted-average number of common shares outstanding of 100,000. Costco has two convertible bonds: 1) 1/1/17 a 4% bond sold at 100 of $1,000,000 face value convertible into 20,000 shares and 2) 6/1/17 a 10% bond issued at 100 of $1,000,000 face value convertible into 30,000. Costco has a tax rate of 30%. What are the Basic EPS and Diluted EPS?
TI Problem Set 11 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron...
TI Problem Set 11 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron the BEST answer to each of the following questions $2,100.000 Assume that the following data relative to Kane Company for 2018 is available: Net Income tax rate of 409) Change Transactions in Common Shares Jan 1, 2018, Beginning number Mar. 1. 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1. 2018, Issuance of shares (60.000) 640,000 120.000 Cumulative 700.000 640.000...
Problem Set 1: 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron the BEST answer to each of th...
Problem Set 1: 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron the BEST answer to each of the following questions Assume that the following data relative to Kane Company for 2018 is available: Net Income tax rate of 40%) $2,100,000 Change Cumulative Transactions in Common Shares 700.000 Jan. 1. 2018, Beginning number (60,000) 640.000 Mar. 1. 2018, Purchase of treasury shares 640.000 1.280.000 June 1, 2018, Stock split 2-1 120,000 1.400,000 Nov. 1. 2018, Issuance of...
Weighted Average Common Shares and EPS Toys Corporation reported that the following changes in common shares...
Weighted Average Common Shares and EPS
Toys Corporation reported that the following changes in common
shares outstanding occured during the year 2019.
January 1 60,000 common shares were outstanding on January
1st, 2019 April 1st issued 50,000 commom shares.
required:
a. Calculate the weighted-average number of common shares
outstanding during the year 2019.
b. Toys earnings for the year 2019 amounted to $985,000.
(Hint: remember you have already calculayed the # of shares above).
Calculate the EPS.
Weighted Average Common...
On January 1, 2020, Wildhorse Ltd. had 522,000 common shares outstanding. During 2020, it had the...
On January 1, 2020, Wildhorse Ltd. had 522,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Issued 154,000 shares. Mar. 1 Issued a 20% stock dividend. May 1 Acquired 174,000 common shares and retired them. June 1 Issued a 2-for-1 stock split. Oct. 1 Issued 43,000 shares. The company’s year end is December 31. Part 1 Incorrect answer iconYour answer is incorrect. Determine the weighted average number of shares outstanding...
On January 1, 2020, Wildhorse Ltd. had 648,000 common shares outstanding. During 2020, it had the...
On January 1, 2020, Wildhorse Ltd. had 648,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Issued 181,000 shares. Mar. 1 Issued a 18% stock dividend. May 1 Acquired 210,000 common shares and retired them. June 1 Issued a 3-for-1 stock split. Oct. 1 Issued 76,000 shares. The company’s year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to...
Skysong Corporation reported Long-Term Liabilities and Shareholders' Equity in its December 31, 2020 balance sheet as...
Skysong Corporation reported Long-Term Liabilities and Shareholders' Equity in its December 31, 2020 balance sheet as follows: $7,500,000 $4,600,000 Long Term Liabilities: Bonds Payable 9% interest, convertible to 25 common shares/$1,000 bond Bonds Payable 5% interest, convertible to 30 common shares/$1,000 bond Shareholders' Equity: Class A Preferred shares $3.90 cumulative preferred share convertible into 7 common shares, 102,000 authorized, issued and outstanding Class B Common shares Unlimited number authorized 4,820,000 issued and outstanding $5,000,000 $28,920,000 All of the above reported...
Amy Dyken, controller at Wildhorse Pharmaceutical Industries, a public company, is currently preparing the calculation for...
Amy Dyken, controller at Wildhorse Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Wildhorse’s financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Wildhorse Pharmaceutical Industries Selected Balance Sheet Information June 30, 2020 Long-term debt Notes payable, 10% $1,020,000 9% convertible bonds payable 4,970,000 10% bonds payable 5,980,000 Total long-term debt $11,970,000 Shareholders’ equity Preferred stock, 5% cumulative, $50 par...
Alciatore Company reported a net income of $150,000 in 2018. The
weighted-average number of common shares outstanding for 2018 was
40,000. The average stock price for 2018 was $33. Assume an income
tax rate of 40%. Required: For each of the following independent
situations, indicate whether the effect of the security is
antidilutive for diluted EPS.
Alciatore Company reported a net income of $150,000 in 2018. The weighted-average number of common shares outstanding for 2018 was 40,000. The average stock...
Alciatore Company reported a net income of $150,000 in 2018. The weighted average number of common shares outstanding for 2018 was 40,000. The average stock price for 2018 was $33. Assume an income tax rate of 40%. Required: For each of the following independent situations, indicate whether the effect of the security is antidilutive for diluted EPS. 10,000 shares of 7.7% of $100 par convertible, cumulative preferred stock. Each share may be converted into two common shares. 8% convertible 10-year,...
TI Problem Set 11 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron the BEST answer to each of the following questions $2,100.000 Assume that the following data relative to Kane Company for 2018 is available: Net Income tax rate of 409) Change Transactions in Common Shares Jan 1, 2018, Beginning number Mar. 1. 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1. 2018, Issuance of shares (60.000) 640,000 120.000 Cumulative 700.000 640.000...
Problem Set 1: 011-020 (Total 30 pts.: 3 pts each) CLEARLY indicate on your scantron the BEST answer to each of the following questions Assume that the following data relative to Kane Company for 2018 is available: Net Income tax rate of 40%) $2,100,000 Change Cumulative Transactions in Common Shares 700.000 Jan. 1. 2018, Beginning number (60,000) 640.000 Mar. 1. 2018, Purchase of treasury shares 640.000 1.280.000 June 1, 2018, Stock split 2-1 120,000 1.400,000 Nov. 1. 2018, Issuance of...
Weighted Average Common Shares and EPS
Toys Corporation reported that the following changes in common
shares outstanding occured during the year 2019.
January 1 60,000 common shares were outstanding on January
1st, 2019 April 1st issued 50,000 commom shares.
required:
a. Calculate the weighted-average number of common shares
outstanding during the year 2019.
b. Toys earnings for the year 2019 amounted to $985,000.
(Hint: remember you have already calculayed the # of shares above).
Calculate the EPS.
Weighted Average Common...
Skysong Corporation reported Long-Term Liabilities and Shareholders' Equity in its December 31, 2020 balance sheet as follows: $7,500,000 $4,600,000 Long Term Liabilities: Bonds Payable 9% interest, convertible to 25 common shares/$1,000 bond Bonds Payable 5% interest, convertible to 30 common shares/$1,000 bond Shareholders' Equity: Class A Preferred shares $3.90 cumulative preferred share convertible into 7 common shares, 102,000 authorized, issued and outstanding Class B Common shares Unlimited number authorized 4,820,000 issued and outstanding $5,000,000 $28,920,000 All of the above reported...
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