Question
In: Accounting
Bellevue Inc.’s shareholders’ equity accounts were as follows at the beginning of the current fiscal year,...
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Bellevue Inc.’s shareholders’ equity accounts were as follows at the beginning of the current fiscal year, August 1, 2017:
Calculate the weighted average number of common shares for the year.
Calculate the basic earnings per share. (Round answer to 2 decimal place e.g. 5.25.)
Would your answer to the basic earnings per share calculated above change if the preferred share dividend had not been declared on June 20? (Round answer to 2 decimal place e.g. 5.25.)
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During the year, the following selected transactions
occurred:
| Oct. | 1 | Reacquired 24,000 common shares for $18 per share. | |
| Dec. | 1 | Issued 63,000 common shares for $23 per share. | |
| Feb. | 1 | Issued 9,200 common shares for $24 per share. | |
| June | 20 | Declared the annual preferred cash dividend to shareholders of record on July 10, payable on July 31. | |
| July | 31 |
Net income for the year ended July 31, 2018, was $1,218,000. |
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ekkarill92 answered 5 months agoRelated Solutions
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