Holzman Company reported net income for 2018 in the amount of $50,000. During 2018, Holzman declared...
Holzman Company reported net income for 2018 in the amount of $50,000. During 2018, Holzman declared and paid $2,000 in cash dividends on its nonconvertible preferred stock. Holzman also paid $10,000 cash dividends on its common stock. Holzmanhad 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1, 2018. A 2-for-1 stock split was granted on July 5, 2018. What is the 2018 basic earnings per share (rounded to the nearest cent)? The answer is 0.53, just wondering why?
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Holzman Company reported net income for 2018 in the amount of
$50,000. During 2018, Holzman declared...
can someone please assist with these questions Chapter 19- Earnings per Share 73. RST's net income...
can someone please assist with these questions
Chapter 19- Earnings per Share 73. RST's net income for the year ended December 31, 20x3, was $30,000. During 20x3, RST declared and paid $3,000 cash dividends on preferred shares the full year's requirement) and 55,250 cash dividends on common shares. At December 31, 2023, 36,000 common shares were issued and outstanding. 30,000 of which had been outstanding throughout the year and 6,000 of which were issued on July 1, 20x3. No other...
3. During 2018, Falwell Inc. had 500,000 shares of common stock and 50,000 shares of 6%...
3. During 2018, Falwell Inc. had 500,000 shares of common stock and 50,000 shares of 6% cumulative preferred stock outstanding. The preferred stock has a par value of $100 per share. Falwell did not declare or pay any dividends during 2018. Falwell's net income for the year ended December 31, 2018, was $2.5 million. The income tax rate is 40%. Falwell granted 10,000 stock options to its executives on January 1 of this year Each option gives its holder the...
At Dec. 31, 2018, the financial statements of Clevenger Casting Corporation included the following: Net income...
At Dec. 31, 2018, the financial statements of Clevenger Casting Corporation included the following: Net income for 2018 $500 m Common stock, $1 par: shares outstanding on Jan. 1 150m shares shares retired for cash on Feb. 1 24 m 2-for-1 split on July 23 shares sold for cash on Sept. 1 18m Preferred stock, 10%, $70 par, cumulative, nonconvertible $70m • •Determine the basic EPS for 2018.
The Common Stock account for Baltimore Corporation on January 1, 2018 was $50,000. On July 1,...
The Common Stock account for Baltimore Corporation on January 1, 2018 was $50,000. On July 1, 2018 Baltimore issued an additional 8,000 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $116,500. Use this information to determine for December 31, 2018 the amount of Earnings per Share (rounded...
The company has the following information for 2018 Net income $1,200,000 8% convert...
The company has the following information for 2018 Net income $1,200,000 8% convertible $1,000 bonds issued 1/1/15 for $2,140,472 yielding 7% with annual coupons – Due 1/1/25 - Each bond converts to 50 shares of common stock $2,000,000 face amount 9% convertible, cumulative $100 par preferred stock -Each share converts to 3 shares of common stock $3,000,000 Common stock, $10 par $5,000,000 Common stock options (granted in 2016) to purchase 60,000 shares of common stock at $20 per share Tax...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is worth 4 points. 1) Which of the following does NOT represent potential shares for purposes of the diluted earnings per share calculation? A) Convertible bonds. B) Dividends on common shares. C) Stock options D) Convertible preferred stock. 2) During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of preferred stock outstanding. Angel declared and paid cash dividends of $150,000 to...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is worth 4 points. 1) Which of the following does NOT represent potential shares for purposes of the diluted earnings per share calculation? A) Convertible bonds. B) Dividends on common shares. C) Stock options D) Convertible preferred stock. 2) During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of preferred stock outstanding. Angel declared and paid cash dividends of $150,000 to...
On December 31, 2018, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 4% cumulative...
On December 31, 2018, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 4% cumulative and nonparticipating preferred stock, and 14,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $25,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent. Your answer: The Common Stock account for Baltimore...
Tam Company's net income for the year ending December 31, 2017, was $10,000. During the year,...
Tam Company's net income for the year ending December 31, 2017, was $10,000. During the year, Tam declared and paid $1,000 cash dividends on preferred stock and $1,750 cash dividends on common stock. At December 31, 2017, the company had 12,000 shares of common stock issued and outstanding—10,000 had been issued and outstanding throughout the year and 2,000 were issued on July 1, 2017. No other common stock transactions occurred during the year, and the 5,000 shares of preferred stock...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares), Java then paid the dividends on January 4, 2019. Read the requirements Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation...
can someone please assist with these questions
Chapter 19- Earnings per Share 73. RST's net income for the year ended December 31, 20x3, was $30,000. During 20x3, RST declared and paid $3,000 cash dividends on preferred shares the full year's requirement) and 55,250 cash dividends on common shares. At December 31, 2023, 36,000 common shares were issued and outstanding. 30,000 of which had been outstanding throughout the year and 6,000 of which were issued on July 1, 20x3. No other...
3. During 2018, Falwell Inc. had 500,000 shares of common stock and 50,000 shares of 6% cumulative preferred stock outstanding. The preferred stock has a par value of $100 per share. Falwell did not declare or pay any dividends during 2018. Falwell's net income for the year ended December 31, 2018, was $2.5 million. The income tax rate is 40%. Falwell granted 10,000 stock options to its executives on January 1 of this year Each option gives its holder the...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is worth 4 points. 1) Which of the following does NOT represent potential shares for purposes of the diluted earnings per share calculation? A) Convertible bonds. B) Dividends on common shares. C) Stock options D) Convertible preferred stock. 2) During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of preferred stock outstanding. Angel declared and paid cash dividends of $150,000 to...
MULTIPLE CHOICE. Choose the one alternative that best completas e B LO question. Each question is worth 4 points. 1) Which of the following does NOT represent potential shares for purposes of the diluted earnings per share calculation? A) Convertible bonds. B) Dividends on common shares. C) Stock options D) Convertible preferred stock. 2) During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of preferred stock outstanding. Angel declared and paid cash dividends of $150,000 to...
Tam Company's net income for the year ending December 31, 2017, was $10,000. During the year, Tam declared and paid $1,000 cash dividends on preferred stock and $1,750 cash dividends on common stock. At December 31, 2017, the company had 12,000 shares of common stock issued and outstanding—10,000 had been issued and outstanding throughout the year and 2,000 were issued on July 1, 2017. No other common stock transactions occurred during the year, and the 5,000 shares of preferred stock...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares), Java then paid the dividends on January 4, 2019. Read the requirements Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation...
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