Dividends Per Share Seacrest Company has 10,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: 2011 $67,500 2012 2013 18,000 135,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. 2011 2012 2013 Preferred Stock (dividends per share) 4.5 1.80 Common Stock (dividends per share) 0.45 ✔ 0
Q: In the current year, Madison inherited investment property from a parent's estate with a fair market…
A: When someone inherits property, their basis is typically "stepped up" to reflect the decedent's fair…
Q: Mumtaz Bhd is a listed company engaged in developing housing and industrial estate. Below is the…
A: Income Statement: It provides a summary of the business's earnings for a specific time frame, often…
Q: Skysong Company manufactures many products for use in the wine industry Presented below is…
A: FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…
Q: 1.What is the number of outstanding ordinary shares? 2. What is the number of outstanding…
A: Shares The capital of the company divided into small units is called a share. Each share is given a…
Q: What is forecasting in a healthcare business. Provide an example of how forecasting is conducted in…
A: Forecasting in healthcare is a critical process because it allows organizations to anticipate and…
Q: In 2023, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint tax…
A: EXPLANATION:During the year, Margaret and John Murphy, a married couple filing a joint tax return,…
Q: Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2023 depreciation…
A: Depreciation-Depreciation deduction means the value of fixed assets got reduced every year. To…
Q: None
A: Explanations: SamTanaLooYusTotalNet Profit 80,300Interest on loan from Yus (not paid) 1,000…
Q: None
A: To compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024, we…
Q: Give me correct answer and explanation..f
A: The objective of the question is to determine the amount of the dividend that would be paid to each…
Q: None
A: What is conversion cost?Conversion cost is the cost incurred by any manufacturing entity in the…
Q: None
A: To solve this problem, we need to follow the accounting rules for exchanges of non-monetary assets…
Q: dont provide hnadwriting solution ..
A: The objective of the question is to identify the true statement about the Democratic and Republican…
Q: Kailey Construction accepted a three-year, $1,000,000 fixed fee contract to renovate a parking deck.…
A: Step 1: Let's break down each part of the required calculations and journal entries: a. Percentage…
Q: AP 18-4 (Partnership Income Allocation) Saul and Samuel Jeon are brothers and CPAs with significant…
A: Part B: Answer:1. Saul's federal income tax credit: $02. Samuel's federal income tax credit: $0…
Q: Give me correct answer with explanation..j
A: Detailed explanation:Given : Face Value of Bonds, $ 248,000Stated Interest of Bonds 6%, paid…
Q: Required information [The following information applies to the questions displayed below.] The…
A: Journal entries are made to record the transactions as the first process in the books of accounts…
Q: Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the…
A: Incremental revenue refers to the total extra amount received from the sale of one extra unit of the…
Q: Sage Hill Ltd., follows IFRS and was organized in 2022. Sage Hill provided you with the following…
A: The objective of the question is to calculate the amount to be reported for intangible assets on the…
Q: ars of Metlock Products, Inc., were as follows: 2025, $139,100; 2026, $189,700. Early in 5 was…
A: A journal entry is a record of a financial sale in account. It is the first step in the accounting…
Q: Prepare the journal entry to record depreciation expense for 2024. (Credit account titles are…
A: Assets are recorded at cost when acquired. However they are impairment loss is identified when they…
Q: You have been asked to test the effectiveness of Ingo Corporation's control of manually approving…
A: Testing Ingo Corporation's Purchase Approval ControlScenario:Ingo Corporation has implemented a…
Q: None
A: Purchase of Investment (January 1, 2025):Purchase of Investment (January 1, 2025):Available-for-Sale…
Q: None
A: In accounting for warranty obligation, the journal entry would be:Debit to Warranty expense to…
Q: ttps://v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress=true M ups Q x QQ +…
A: Starting Cash Balance:Begin with the cash balance at the start of the period. This is usually the…
Q: Salesware.com, Incorporated, is a leading provider of enterprise software, delivered through the…
A: An income statement is prepared so that the business establishments know how much amount of profit…
Q: None
A:
Q: as pharmaceutical drugs, heart valves, artificial hips, and pacemakers. Its direct labor costs…
A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead cost to cost…
Q: None
A: SALESWARE.COM, INCORPORATEDConsolidated Statement of Income(In millions, except per share…
Q: A firm in New York has USD 40 000 to invest in three projects, either Project A or Project Bor…
A: Conclusions:The projects are not equally profitable. Based on the Profitability Index (PI), Project…
Q: None
A: a. Jenis-jenis modal kerja:Modal Kerja Bruto (Gross Working Capital): Merupakan total aktiva lancar…
Q: Kimble, Sykes, and Gerard open an accounting practice on January 1, 2022, in Chicago, Illinois, to…
A: The objective of the question is to allocate the net income of the partnership among the partners…
Q: Hansaben
A: To calculate the amount of revenue and gross profit (loss) to be recognized in each of the three…
Q: Haresh
A: Under FIFO (first-in, first-out), the assumption is that goods that were first purchased are sold…
Q: None
A: 1) To determine financial advantage or financial disadvantage:Financial advantage = $44,040…
Q: on accepted a $4,000, 6%, 120-day note dated August 8 from Regis Company in settlement of a past…
A: Discounting a note payable with a bank is a process by which a borrower sells a promissory note to…
Q: None
A: Part 2: Explanation:Step 1: Receive Invoice P851 from All-the-Rage.Upon receiving Invoice P851, the…
Q: Collyer Ltd has a valve division that manufactures and sells a standard valve as follows: Capacity…
A: The objective of the question is to determine the acceptable range for the transfer price between…
Q: Depreciation by Two Methods; Sale of Fixed Asset New lithographic equipment, acquired at a cost of…
A: The objective of the question is to calculate the annual depreciation expense, accumulated…
Q: None
A: Step 1: 1) A bank reconciliation Statement is prepared to reconcile the Bank balances in the Bank…
Q: Which company reports the greater allowance for doubtful accounts (amount and percentage of gross…
A: **1. Allowance for Doubtful Accounts Amount:** The allowance for doubtful accounts represents an…
Q: The Heinrich Tire Company recalled a tire in its subcompact line in December 2024. Costs associated…
A: Explanation to 3. to 5. Prepare the necessary journal entries: Recording the Journal Entry at the…
Q: Dengar
A: REQUIREMENT ( 1 ) & ( 2 ) Bond is issued on discount when it pays Interest Lower than the…
Q: None
A: Step 1: A direct labor budget is prepared to estimate the budgeted direct labor cost for the…
Q: appears below: Lessons Revenue Expenses: Instructor wages TipTop Flight School Variance Report For…
A: The objective of this question is to prepare a flexible budget performance report for TipTop Flight…
Q: FER-8= use excel The following information is available for Juddo Inc., a merchandising business in…
A: The objective of this question is to calculate the cost of goods sold (COGS) and the ending…
Q: None
A: Step 1a. We can calculate the net income by using the below formula: Formula: Net income =…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take…
A: The objective of the question is to prepare the journal entry to record the depreciation expense for…
Q: Chaz Corporation has taxable income in 2023 of $1,313,200 for purposes of computing the 5179 expense…
A: A fixed asset's revenue might partially offset its cost through depreciation. This is necessary in…
Q: Q. If the auditor traces a sample of receiving reports to the inventory records, the auditor is…
A: The objective of the question is to determine whether the statement is true or false. The statement…
Step by step
Solved in 2 steps
- Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.
- The following selected transactions and events occurred during 2013: a. Issued 200 shares of preferred stock for 20,000. b. Sold 800 shares of treasury stock for 2,800. c. Declared and issued a 4% common stock dividend. The market value on the date of declaration was 5 per share. d. Generated a net loss for the year of 16,000. e. Declared and paid the full years dividend on all the preferred stock and a dividend of 15 per share on common stock outstanding at the end of the year. Enter beginning balances for 2013 on STOCKEQ2. Then erase all 2012 entries and enter the transactions for 2013. Save the results as STOCKEQ4. Print the results.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 0 par common stock at 0, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a held- to-maturitv long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 545, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method, q. Accrued interest for three months on the Dream Inc. bonds purchased in (1). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions Journalize the selected transactions. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016. Income statement data: Advertising expense 150,000 Cost of merchandise sold 3,700,000 Delivery expense 30,000 Depreciation expense -office buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Dividend revenue 4,500 Gain on sale of investment 4,980 Income from Pinkberry Co. investment 76,800 Income tax expense 140,500 Interest expense 21,000 Interest revenue 2,720 Miscellaneous administrative expense 7.500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,254,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available for sale investments (at cost) 260,130 Bonds payable. 5%. due 2024 500,000 Cash 246,000 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued. 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory [December 31, 2016). at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4.320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock. 80 par (30,000 shares authorized; 20,000 shares issued] 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 2016 9,319,725 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 Unrealized gain (loss) on available for sale investments (6,500) Valuation allowance for available for sale investments (6,500)Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements.
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a heldtomaturity long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method. q. Accrued interest for three months on the Dream Inc. bonds purchased in (l). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016.
- Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.