Question
In: Accounting
During 2021, Johnon Company had 100,000 shares of $5 par value common stock and 5,000 shares...
During 2021, Johnon Company had 100,000 shares of $5 par value common stock and 5,000 shares of 5%, $100 par value convertible preferred stock outstanding. Each share of preferred stock may be converted into three shares of common stock. Johnson Company’s 2021 net income was $1,800,000.
a. compute the basic earnings per share fore 2021
b. compute diluted earnings per share for 2021.
Solutions
Expert Solution
basic earnings per share (BEPS) state the
amount of earnings on per outstanding share of a company.
Diluted Earnings per share(DEPS) state the dilution in BEPS due
to potential conversion in common stock
ekkarill92 answered 1 year agoRelated Solutions
If a corporation issues 5,000 shares of $5 par value common stock for $ 90,000, the...
If a corporation issues 5,000 shares of $5 par value common
stock for $ 90,000, the journal entry would include a credit
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A.Common Stock for $ 90,000.
B.Common Stock for $ 65,000.
C.Paidminusin Capital in Excess of Parlong dashCommon for $
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D.Paidminusin Capital in Excess of Parlong dashCommon for $
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If a corporation issues 2,000 shares of $1 par value common
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On December 31, 2021, Oriole Company had 1,365,000 shares of $5 par common stock issued and...
On December 31, 2021, Oriole Company had 1,365,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here.
Common Stock
$6,825,000
Additional Paid-in Capital
1,845,000
Retained Earnings
1,105,000
Transactions during 2022 and other information related to
stockholders’ equity accounts were as follows.
1.
On January 10, issued at $114 per
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2.
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On December 31, 2021, Jons Company had 1,300,000 shares of $5 par common stock issued and...
On December 31, 2021, Jons Company had 1,300,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders' equity had the amounts listed here.
Prepare a stockholders' equity section.
Common Stock
$6,500,000
Additional Paid-in Capital
1,800,000
Retained Earnings
1,200,000
Transactions during 2022 and other information related to
stockholders' equity accounts were as follows.
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120,000 shares of $100 par value, 9% cumulative preferred
stock.
2. On February 8,...
On December 31, 2021, Oriole Company had 1,365,000 shares of $5 par common stock issued and...
On December 31, 2021, Oriole Company had 1,365,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here.
Common Stock
$6,825,000
Additional Paid-in Capital
1,845,000
Retained Earnings
1,105,000
Transactions during 2022 and other information related to
stockholders’ equity accounts were as follows.
1.
On January 10, issued at $114 per share 112,000 shares of $101
par value, 7% cumulative preferred stock.
2.
On February 8, reacquired 13,900 shares of its...
On December 31, 2021, Oriole Company had 1,365,000 shares of $5 par common stock issued and...
On December 31, 2021, Oriole Company had 1,365,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here.
Common Stock
$6,825,000
Additional Paid-in Capital
1,845,000
Retained Earnings
1,105,000
Transactions during 2022 and other information related to
stockholders’ equity accounts were as follows.
1.
On January 10, issued at $114 per share 112,000 shares of $101
par value, 7% cumulative preferred stock.
2.
On February 8, reacquired 13,900 shares of its...
On December 31, 2021, Cullumber Company had 1,265,000 shares of $5 par common stock issued and...
On December 31, 2021, Cullumber Company had 1,265,000 shares of
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stockholders’ equity had the amounts listed here. Common Stock
$6,325,000 Additional Paid-in Capital 1,885,000 Retained Earnings
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June 1st – issued a 2-for-1 stock split
Required:
Determine the weighted-average number of shares outstanding as
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Assume that L Company had net income of $2,500,000 during 2021.
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Paul Company had 100,000 shares of common stock outstanding on
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$100 par, 5%, and is convertible into 3 shares of common for each
shares of preferred. Paul also had 400, 7% convertible bonds
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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018,...
Mustang Corporation had 100,000 shares of $2 par value common
stock outstanding. On December 31, 2018, the company's board of
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Complete the necessary journal entry to record the declaration
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Greyson Corporation has 5,000 shares of $50 par value common
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