In 2022, Margaritaville's Products completed the treasury stock transactions described below. January 3: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at $110. February 14: Issued 50,000 shares of common stock in exchange for equipment with a known cash price of $310,000. September 18: Sold 3 million treasury shares at $15 per share. Margaritaville had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions assuming that Margaritaville's Products uses the cost method.

On December 31, 2017 Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, 100 par value ccumulative preferred stock issued and outstanding. On march 1 2018 Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018 was 850 million. The income tax rate is 40% Also oustanding at December 31 were incentive stock options granted to key executives on September 13, 2013. Thee options are exercisable as of September 13, 2017 for 30 million common shares at an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share.  In 2014, 62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Ccompute Berclair's basic and diluted earnings per sharefor the year ended December 31, 2018.

On December 31, 2023, Ainsworth, Incorporated had 760 million shares of common stock outstanding. B Twenty nine million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2024. ⚫ On April 30, 2024, Ainsworth purchased 30 million shares of its common stock as treasury stock. • Twelve million treasury shares were sold on August 31. B Ainsworth issued a 5% common stock dividend on June 12, 2024. ■ No cash dividends were declared in 2024. . For the year ended December 31, 2024, Ainsworth reported a net loss of $185 million, including an after-tax loss from discontinued operations of $490 million. Required: 1. Compute Ainsworth's net loss per share for the year ended December 31, 2024. 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2024. 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2024 and 2023 comparative income statements. Assume EPS was reported…

On December 31, 2023, Berclair Incorporated had 280 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 48 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2024. Eight million treasury shares were sold on October 1. Net income for the year ended December 31, 2024, was $350 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024.

On December 31, 2023, Berclair Incorporated had 520 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. ⚫ On March 1, 2024, Berclair purchased 30 million shares of its common stock as treasury stock. • Berclair Issued a 5% common stock dividend on July 1, 2024. Five million treasury shares were sold on October 1. • Net Income for the year ended December 31, 2024, was $950 million. Required: Compute Berclair's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Numerator Denominator■ Earnings per Share

On December 31, 2023, Berclair Incorporated had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 160 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $1,000 million. • Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019. • The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. . During 2024, the market price of the common shares averaged $70 per share. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible securities have been adjusted for any stock split or…

On December 31, 2023, Berclair Incorporated had 480 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. . On March 1, 2024, Berclair purchased 24 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $750 million. . The income tax rate is 25%. • Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2019. • The options are exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share. . During 2024, the market price of the common shares averaged $70 per share. • In 2020, $50.0 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berclair's basic and diluted earnings per share for the year ended…

On December 31, 2023, Berclair Incorporated had 540 million shares of common stock and 21 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2024, Berclair purchased 24 million shares of its common stock as treasury stock. • Berclair issued a 5% common stock dividend on July 1, 2024. • Four million treasury shares were sold on October 1. • Net income for the year ended December 31, 2024, was $1,050 million. • Also outstanding at December 31 were 84 million incentive stock options granted to key executives on September 13, 2019. • The options were exercisable as of September 13, 2023, for 84 million common shares at an exercise price of $75 per share. • During 2024, the market price of the common shares averaged $100 per share. • The options were exercised on September 1, 2024. Required: Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024. (Shares for stock options and conversion of convertible…

Dulcinea Corporation had $1,000,000 of net income in 2022. On January 1, 2022, there were 225,000 shares of common stock outstanding.  On April 1, there were 12,000 additional shares issued.  On July 1, Dulcinea issued a 10% stock dividend and on September 1, Dulcinea bought 20,000 shares of treasury stock.         The market price of the common stock averaged $30 during 2022.  The tax rate is 30%.   During 2022, there were 10,000 shares of cumulative, convertible preferred stock outstanding.  The preferred is $100 par, pays $4 per share in dividends per year and each share of preferred stock is convertible into two shares of common stock.   Dulcinea issued $5,000,000 of 5% convertible bonds at face value ten years earlier.  All bonds remained outstanding throughout 2022.   Each $1,000 bond is convertible into 10 shares of common stock.   Required:   Calculate the weighted average number of shares outstanding for 2022 to be used to calculate basic earnings per share. Compute basic…

Baez Corp. began operations on Jan. 1, 2023.  Baez Corp. is authorized to issue 150,000 shares of it's 6%, $40 par value preferred stock.  The company is authorized to issue 650,000 shares of the common stock with a par value of $2 per share.  On January 5, 2023, the company issued 225,000 shares of common stock for cash at $13 per share.  What is the journal entry to record the issuance of the common stock shares?