EBK INTERMEDIATE ACCOUNTING: REPORTING
2nd Edition
ISBN: 9781305727557
Author: PAGACH
Publisher: YUZU
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Chapter 16, Problem 3E
1.
To determine
Prepare
2.
To determine
Prepare a condensed balance sheet for the given transactions after each dividend is being paid or distributed.
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Data table
Income Statement-partial:
Net Income
Balance Sheet-partial:
Total Assets
Paid-In Capital:
Preferred Stock-2%, $5 Par Value; 85,000 shares
authorized, 5,000 shares issued and outstanding
Common Stock-$3 Par Value; 85,000 shares
authorized; 55,000 shares issued and outstanding
Paid-In Capital in Excess of Par-Common
Retained Earnings
Total Stockholders' Equity
Print
$
$
$
$
Done
2024
22,500 $
260,000 $
Dec. 31, 2024 Dec. 31, 2023
25,000 $
165,000
2023
5,000
52,000
247,000 $
25,000
265,000
25,000
165,000
5,000
30,000
225,000
A) calculate the earnings per share (average of 425,000 shares outstanding for the year) for 2020.
1. Earnings per shares-
B) calculate the price/earnings ratio (market price of $48 at year-end)
1. Price/ earnings ratio-
C)calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020.
1.Dividend payout ratio-
Additional information:
1.
The market price of Pina’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively.
2.
You must compute dividends paid. All dividends were paid in cash.
Compute the following ratios for 2021 and 2022.
2022
2021
Profit margin
enter percentages
%
enter percentages
%
(Round answers to 1 decimal place, e.g. 1.5%.)
Gross profit rate
enter percentages
%
enter percentages
%
(Round answers to 1 decimal place, e.g. 1.5%.)
Asset turnover
enter asset turnover in times
times
enter asset turnover in times
times
(Round answers to 2 decimal places, e.g. 1.83.)
Earnings per share
$enter earnings per share in dollars
$enter earnings per share in dollars
(Round answers to 2 decimal places, e.g. 1.83.)
Price-earnings ratio
enter price-earnings ratio in times
times
enter price-earnings ratio in times
times
(Round answers to 1 decimal place,…
Chapter 16 Solutions
EBK INTERMEDIATE ACCOUNTING: REPORTING
Ch. 16 - What are the four important dates in regard to a...Ch. 16 - How does the ex-dividend date differ from the date...Ch. 16 - Prob. 3GICh. 16 - Prob. 4GICh. 16 - Prob. 5GICh. 16 - Prob. 6GICh. 16 - How does the accounting for a liquidating dividend...Ch. 16 - Prob. 8GICh. 16 - Prob. 9GICh. 16 - Prob. 10GI
Ch. 16 - What items might a corporation include in the...Ch. 16 - Prob. 12GICh. 16 - Prob. 13GICh. 16 - Prob. 14GICh. 16 - Prob. 15GICh. 16 - On what date are stock dividends and splits...Ch. 16 - Prob. 17GICh. 16 - What two earnings per share figures generally are...Ch. 16 - Prob. 19GICh. 16 - Prob. 20GICh. 16 - Prob. 21GICh. 16 - A company with potentially dilutive share options...Ch. 16 - Prob. 23GICh. 16 - Prob. 1MCCh. 16 - A prior period adjustment should be reflected, net...Ch. 16 - Prob. 3MCCh. 16 - Effective May 1, the shareholders of Baltimore...Ch. 16 - Prob. 5MCCh. 16 - For purposes of computing the weighted average...Ch. 16 - In determining basic earnings per share, dividends...Ch. 16 - Prob. 8MCCh. 16 - Prob. 9MCCh. 16 - Prob. 10MCCh. 16 - Prob. 1RECh. 16 - Prob. 2RECh. 16 - Prob. 3RECh. 16 - Use the same facts as in RE 16-3, but instead...Ch. 16 - Given the following current year information,...Ch. 16 - In Year 2, Adams Corporation discovered that it...Ch. 16 - Howard Corporal ion had 10,000 shares of common...Ch. 16 - Given the following year-end information for...Ch. 16 - Aiken Corporation has compensatory share options...Ch. 16 - Marlboro Corporation has 9% convertible preferred...Ch. 16 - Sarasota Corporation has 9% convertible bonds...Ch. 16 - Given the following year-end information, compute...Ch. 16 - Prob. 1ECh. 16 - Dividends Andrews Company has 80,000 available to...Ch. 16 - Prob. 3ECh. 16 - Prob. 4ECh. 16 - Stock Dividend Comparison Although Oriole Company...Ch. 16 - Prob. 6ECh. 16 - Prob. 7ECh. 16 - Prob. 8ECh. 16 - Prob. 9ECh. 16 - Prob. 10ECh. 16 - Prob. 11ECh. 16 - Prob. 12ECh. 16 - Weighted Average Shares At the beginning of the...Ch. 16 - Prob. 14ECh. 16 - Prob. 15ECh. 16 - Prob. 16ECh. 16 - Prob. 17ECh. 16 - Prob. 18ECh. 16 - Prob. 19ECh. 16 - Prob. 20ECh. 16 - Prob. 21ECh. 16 - Francis Company has 24,000 shares of common stock...Ch. 16 - Prob. 23ECh. 16 - Prob. 24ECh. 16 - Prob. 25ECh. 16 - Prob. 26ECh. 16 - Prob. 27ECh. 16 - Prob. 28ECh. 16 - Keener Company has had 1,000 shares of 7%, 100 par...Ch. 16 - Prob. 2PCh. 16 - Prob. 3PCh. 16 - Prob. 4PCh. 16 - Prob. 5PCh. 16 - Prob. 6PCh. 16 - Prob. 7PCh. 16 - Prob. 8PCh. 16 - Prob. 9PCh. 16 - Prob. 10PCh. 16 - Prob. 11PCh. 16 - Prob. 12PCh. 16 - Prob. 13PCh. 16 - Prob. 14PCh. 16 - Prob. 15PCh. 16 - Prob. 16PCh. 16 - Prob. 17PCh. 16 - Prob. 18PCh. 16 - Prob. 19PCh. 16 - Prob. 20PCh. 16 - Prob. 21PCh. 16 - Prob. 22PCh. 16 - Prob. 23PCh. 16 - Frost Company has accumulated the following...Ch. 16 - Prob. 25PCh. 16 - Prob. 26PCh. 16 - Problems may be encountered in accounting for...Ch. 16 - Stock splits and stock dividends may be used by a...Ch. 16 - Earnings per share (EPS) is the most featured...Ch. 16 - The earnings per share data required of a company...Ch. 16 - Prob. 5CCh. 16 - Public enterprises are required to present...Ch. 16 - Prob. 7CCh. 16 - Ryan Company has as a goal that its earnings per...
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