Question
In: Accounting
The following information is available for Bugsy Corporation: January 1, 2018 Shares outstanding &nb
The following information is available for Bugsy Corporation:
January 1, 2018 Shares outstanding 2,000,000
March 1, 2018 Shares issued 570,000
April 1, 2018 Treasury shares purchased 100,000
September 1, 2018 Shares issued 300,000
The number of shares to be used in computing earnings per common share (WASO) for 2018 is
Select one:
2,500,000 shares
2,269,167 shares
2,583,333 shares
2,294,167 shares
Solutions
Expert Solution
2,500,000 shares
| Increase / (decrease) | Outstanding | Months Outstanding | Share Months | |
| Jan 1 | - | 2,000,000 | 2 | 4,000,000 |
| Mar 1 | 570,000 | 2,570,000 | 1 | 2,570,000 |
| April 1 | (100,000) | 2,470,000 | 5 | 12,350,000 |
| Sep 1 | 300,000 | 2,770,000 | 4 | 11,080,000 |
| 30,000,000 | ||||
| The number of shares to be used | 2,500,000 | |||
| (30,000,000 ÷ 12) | ||||
ekkarill92 answered 1 year agoRelated Solutions
The following information is available for Barone Corporation: January 1, 2013 Shares outstanding &n
The following information is available for Barone
Corporation:
January 1, 2013 Shares
outstanding
1,500,000
April 1,
2013
Shares
issued
240,000
July 1,
2013
Treasury shares
purchased
90,000
October 1, 2013 Shares
issued in a 100% stock
dividend
1,650,000
The number of shares to be used in computing earnings per common
share for 2013 is
A. 3,285,000
B. 3,390,600
C. 2,047,500
D. 3,270,000
The following information is available for Barone Corporation: January 1, 2013 Shares outstanding &n
The following information is available for Barone
Corporation:
January 1, 2013 Shares
outstanding
1,500,000
April 1,
2013
Shares
issued
240,000
July 1,
2013
Treasury shares
purchased
90,000
October 1, 2013 Shares
issued in a 100% stock
dividend
1,650,000
The number of shares to be used in computing earnings per common
share for 2013 is
A. 3,285,000
B. 3,390,600
C. 2,047,500
D. 3,270,000
PLEASE SHOW YOUR WORK!
The following information is available for a corporation: January 1st, 2020 Shares outstanding: 1,250,000 April 1,...
The following information is available for a corporation:
January 1st, 2020 Shares outstanding: 1,250,000
April 1, 2020 Shares Issued: 200,000
July 1, 2020 Purchased Treasury Stock 75,000
October 1, 2020 Issued a 2 for 1 stock split
The number of shares to be used in computing earnings per common
share for 2020 is
A) 2,737,500
B) 2,825,500
C) 2,725,000
D) 1,706,250
At January 1, 2018, Canaday Corporation had outstanding the following securities: 760 million common shares 30...
At January 1, 2018, Canaday Corporation had outstanding the
following securities:
760 million common shares
30 million 6% cumulative preferred shares, $50 par
7% convertible bonds, $3,000 million face amount, convertible into
90 million common shares
The following additional information is available:
On September 1, 2018, Canaday sold 81 million additional shares
of common stock.
Incentive stock options to purchase 50 million shares of common
stock after July 1, 2017, at $10 per share were outstanding at the
beginning and...
The following information is available for Omari Corporation for 2018 :
The following information is available for Omari
Corporation for 2018 :
Beginning
inventory
$ 700,000
Ending
inventory
800,000
Cost of goods
sold
6,000,000
Sales
8,000,000InstructionsCalculate the inventory turnover for Omari Corporation. (2.5
marks)Calculate days in inventory for Omari Corporation. (2.5
marks)
On January 1, 2018, Warren Corporation had 1,000,000 shares of common stock outstanding. On March 1,...
On January 1, 2018, Warren Corporation had 1,000,000 shares of
common stock outstanding. On March 1, the corporation issued
160,000 new shares to raise additional capital. On July 1, the
corporation declared and issued a 2-for-1 stock split. On October
1, the corporation purchased on the market 520,000 of its own
outstanding shares and retired them. Compute the weighted average
number of shares to be used in computing earnings per share for
2018. Weighted average number of shares
An S corporation has the following shares outstanding on January 1, 20X1: Mary 400 shares Frank...
An S corporation has the following shares outstanding on January
1, 20X1:
Mary 400 shares
Frank 500 shares
Joe 800 shares
On June 1, Joe sells 300 of his shares of stock to Gary. The S
corporation’s pass-through taxable income is $30,000. What is
Gary’s pro rata share of the S corporation’s taxable income for
20X1?
A. $3,105
B. $5,294
C. $8,823
D. $14,118
The Alford Group had 310,000 shares of common stock outstanding at January 1, 2018. The following...
The Alford Group had 310,000 shares of common stock outstanding
at January 1, 2018. The following activities affected common shares
during the year. There are no potential common shares
outstanding.
2018
Feb.
28
Purchased 21,000 shares of
treasury stock.
Oct.
31
Sold the treasury shares
purchased on February 28.
Nov.
30
Issued 84,000 new shares.
Dec.
31
Net income for 2018 is
$909,000.
2019
Jan.
15
Declared and issued a 2-for-1
stock split.
Dec.
31
Net income for 2019...
XYZ Corporation began operations on January 1, 2019. The following information is available for XYZ Corporation...
XYZ Corporation began operations on January 1, 2019. The
following information is available for XYZ Corporation on December
31, 2019.
Accounts receivable
1,800
Common stock
10,000
Supplies
4,000
Accounts payable
2,000
Retained earnings
?
Supplies expense
200
Rental expense
9,000
Equipment
16,000
Cash
1,400
Notes payable
5,000
Insurance expense
1,000
Dividends
600
Service revenue
17,000
Instructions
Prepare an (1) income statement, (2) a
retained earnings statement, and (3) a balance sheet using this
information.
On January 1, 2018, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions...
On January 1, 2018, Algerian Delivery had 100,000 shares of
common stock outstanding. The following transactions occurred
during 2018:
March
1:
Reacquired 3,500 shares, accounted for as treasury stock.
September
30:
Sold all the treasury shares.
December
1:
Sold 12,500 new shares for cash.
December
31:
Reported a net income of $302,750.
What is Algerian Deliverys earnings per share for the year
ending in December 31,2018
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