Aa 51. 5.Donnell Corp. had 100,000 shares of 8% preferred stock, $100 par, and 500,000 shares of $1 parcommon stock outstanding throughout the year. Net income for the year was $4,800,000, andDonnell declared and distributed a cash dividend of $4 per share on its common stock. Earnings pershare amounted to:12-6Instructor's Resource ManualCopyright © 2021 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill EducationChapter 12-Revenue Recognition and Reporting Results of Operationsa $8.80.b $4.00.C $8.00.d $2,00.

Earnings per share, often known as EPS, is a standard statistic that is used to determine the worth…

Answered: 5. Donnell Corp. had 100,000 shares of…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.23E

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E16.4 Hulse Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600 shares of Wade common stock (2%) for $7,200 cash. July 1 Received cash dividends of $1 per share on Wade common stock. Sept. 1 Sold 300 shares of Wade common stock for $4,300. Dec. 1 Received cash dividends of $1 per share on Wade common stock. Instructions: a. Journalize the transactions. b. Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement.
Kelley Company reports $960,000 of net Income and declares \$120,000 of cash dividends on its preferred stock for the year. end, the company had 400,000 weighted-average shares of common stock 1. What amount of net income is available to commion stockholdels?2. What is the company's basic EPS ?
Oregon, Inc. reported net income of $105,000. During the current year, the company had 5,000 shares of $100 par, 5% preferred stock and 10,000 of $5 par common stock outstanding. The company declared and paid all preferred dividends. Oregon's earnings per share is a.$18.00 b.$5.08 c.$5.00 d.$8.00
Oregon, Inc., reported net income of $105,000. During the current year, the company had 5,000 shares of $100 par, 5% preferred stock and 10,000 shares of $5 par common stock outstanding. Oregon's earnings per share is a.$5.08 b.$8.00 c.$18.00 d.$5.00
Gusion Corporation has provided the following financial data (in thousands of dollars): Total assets.. Stockholders' equity: Preferred stock, P100 par value, 5%.. Common stock, P2 par value. Additional paid-in capital-common stock Retained earnings....... Year 2 P1,520 P200 P400 P160 P380 Year 1 P1,490 P200 P400 P160 P320 Net income for Year 2 was P110 thousand. Interest expense was P21 thousand. The tax rate was 30%. Dividends on common stock during Year 2 totaled P40 thousand. Dividends on preferred stock totaled P10 thousand. The market price of common stock at the end of Year 2 was P9.15 per share. What is the dividend yield ratio?
1. The balance sheet of Quetico Inc. reported the following at December 31, 2020: A Shareholders' Equity B C Preferred shares, $0.40, 10,000 shares authorized 2 and issued $ 100,000 3 Common shares, 100,000 shares authorized* 400,000 45 Accumulated other comprehensive income Retained earnings 224,000 476,500 6 Total shareholders' equity 7 $ 1,200,500 *The common shares were issued at a stated value of $8.00 per share. Requirements a. Are the preferred shares cumulative or non-cumulative? How can you tell? b. What is the total amount of the annual preferred dividend? c. How many common shares are outstanding? d. Compute the book value per share of the common shares. No preferred dividends are in arrears, and Quetico Inc. has not yet declared the 2020 dividend..
SICO Co. has 8,000 shares issued and outstanding. The per-share par value is $1.5; book value $40 and market value is $52. 8% stock dividend is declared. Instruction: Prepare the journal entries related to: 1- Date of declaratlon. 2- Date of payment. Essay Toolbar navigation BI U S A
On January 1, 2025, Sunland Corporation had 91.200 shares of $1 par value common stock issued and outstanding, During the year, the following transactions occurred: Mar 1 June 1 June 30 Paid the $2 cash dividend. Issued 106,200 shares of common stock for $796.500. Declared a cash dividend of $2 per share to stockholders of record on June 15 Dec. Purchased 5,900 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. 15 Net Income for 2025 totaled $1.072.500. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts. List all debit entries before credit entries)
Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31,2a Common stock. $10 par, 50.000 shares authorized, 30.000 shares issued and outstanding - Paid in Capital in Excess of Par Value, Common Stock - Retained Earnings The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 15 per share 2. March 10. Declared a $1 per share cash divident ne the outstanding common stock. 3. April 07: Paid the cash dividends declared ee 4. May 20: Sold all treasury shares for $16 eac 300.000 200.000 600.000 ch 10. 5. Oct. 1: Declared 10% stock dividends on the Sing common stock for the record of Nov. 1 and to be distributed on Dec 10 The mant v of ok on Oct 1 was $14 per share. 6. Dec. 10. Distributed the shares which declared on Oct. 1. 7. Dec. 25, Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to…
Required information [The following information applies to the questions displayed below.] Company T had 35,000 outstanding shares of common stock, par value $12 per share. On January 1 of the current year, Company P purchased some of Company T's shares as a long-term investment at $25 per share. At the end of the current year, Company T reported the following: income, $51,000, and cash dividends declared during the year, $22,500. The fair value of Company T stock at the end of the current year was $22 per share. Required: 1. For each of the following situations, identify the method of accounting that Company P should use. 4,200 shares purchased 10,500 shares purchased Accounting Method
16. Use the following information for the next five (5) questions: Crusher Company reported the following shareholders’ equity on January 1, 2022: Share capital, P100 par 6,000,000 Share premium 500,000 Retained earnings 1,800,000 Transactions during the year and other information relating to shareholders’ equity account were as follows: On January 26, the entity reacquired for cash 5,000 shares for P110 per share. On April 4, the entity sold for cash 3,000 shares of treasury for P140 per share. On June 1, the entity declared a cash dividend of P20 per share, payable July 5, to shareholders of record on July 1. On November 1, the entity declared a 2 for 1 split and changed the par value from P100 to P50. On November 20, shares were issued for the share split. On December 5, 4,000 shares were issued in exchange for a second hand equipment. The equipment originally cost P400,000, was carried by the previous owner at a carrying amount of P200,000 and was fairly…
Yang and We Inc. is a multinational holding company headquartered in Beljing and it has issued 12,000 outstanding shares. The per-share par value is $2; book value $51 and market value is $72. 40% stock dividend is declared. Instruction: Prepare the journal entry related to the date of declaration. Essay Toolbar navigatlon B I E E E v A

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