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Fashions Inc’ s December 31, 2019 balance sheet showed total common equity of $4,000,000 and 290,000...
Fashions Inc’ s December 31, 2019 balance sheet showed total common equity of $4,000,000 and 290,000 shares of stock outstanding. During 2020, the firm had $450,000 of net income, and it paid out $150,000 as dividends. Assuming no common stock was either issued or retired during 2020.What was the book value per share at 12/31/20?
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jeff jeffy answered 2 years agoRelated Solutions
Brown Fashions Inc.'s December 31, 2017 balance sheet showed total common equity of $4,050,000 and 195,000...
Brown Fashions Inc.'s December 31, 2017 balance sheet showed
total common equity of $4,050,000 and 195,000 shares of stock
outstanding. During 2018, the firm had $450,000 of net income, and
it paid out $100,000 as dividends. What was the book value per
share at 12/31/18, assuming no common stock was either issued or
retired during 2018? (Round your final answer to two decimal
places.)
a. $21.66
b. $23.24
c. $19.86
d. $26.17
e. $22.56
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common...
AIM Inc. showed the following equity account balances on the
December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 861,000 shares
issued and outstanding
$
7,404,600
Retained earnings
2,144,800
During 2020, the following selected transactions occurred:
Feb.
10
Repurchased and retired 163,800 common shares at $10.00 per
share; this is the first retirement recorded by AIM.
May
15
Declared a 2:1 share split to shareholders of record on June 1,
distributable June 15.
Dec.
1
Declared a 10% share...
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common...
AIM Inc. showed the following equity account balances on the
December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 788,500 shares
issued and outstanding
$
7,254,200
Retained earnings
1,984,700
During 2020, the following selected transactions
occurred:
Feb.
10
Repurchased and retired 162,200 common shares at $10.00 per
share; this is the first retirement recorded by AIM.
May
15
Declared a 2:1 share split to shareholders of record on June 1,
distributable June 15.
Dec.
1
Declared a 10% share...
1. Dog Food Supply, Inc. reported the following on it December 31, 2019 balance sheet: “4,000,000...
1. Dog Food Supply, Inc. reported the following on it December
31, 2019 balance sheet: “4,000,000 shares authorized, 500,000
shares issued and outstanding of $10 par value common stock”. The
company issued (for cash) 40,000 shares of common stock on June 30,
2020 when the stock was selling at $45 a share. Then on September
15th, 2020, the company declared a cash dividend of $0.85 per
share. On October 15th , of the same year, the company paid the
dividends...
The December 31, Year 4, balance sheet for Deen Company showed total stockholders’ equity of $156,000....
The December 31, Year 4, balance sheet for Deen Company showed
total stockholders’ equity of $156,000. Total stockholders’ equity
increased by $65,000 between December 31, Year 4, and December 31,
Year 5. During Year 5, Deen Company acquired $20,000 cash from the
issue of common stock. The Company paid a $5,000 cash dividend to
the stockholders during Year 5.
Required
Determine the amount of net income or loss Deen reported on its
Year 5 income statement. (Hint: Remember that stock...
CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited shares authorized;...
CarFind Inc. showed the following equity information at December
31, 2019.
Common shares,
unlimited shares authorized; 5,500,000 shares issued and
outstanding
$
1,010,000
Retained
earnings
1,542,500
On April 1, 2020, 350,000 common shares were issued at $0.70 per
share. On June 1, the board of directors declared a 15% share
dividend to shareholders of record on June 15; the distribution
date was July 1. The market prices of the shares on June 1, June
15, and July 1 were $2.98,...
Cheyenne Inc. had the following balance sheet at December 31, 2019. CHEYENNE INC. BALANCE SHEET DECEMBER...
Cheyenne Inc. had the following balance sheet at December 31,
2019.
CHEYENNE INC.
BALANCE SHEET
DECEMBER 31, 2019
Cash
$24,640
Accounts payable
$34,640
Accounts receivable
25,840
Notes payable (long-term)
45,640
Investments
36,640
Common stock
104,640
Plant assets (net)
81,000
Retained earnings
27,840
Land
44,640
$212,760
$212,760
During 2020, the following occurred.
1.
Cheyenne Inc. sold part of its debt investment portfolio for
$18,399. This transaction resulted in a gain of $6,799 for the
firm. The company classifies these investments as...
Tamarisk Inc. had the following balance sheet at December 31, 2019. TAMARISK INC. BALANCE SHEET DECEMBER...
Tamarisk Inc. had the following balance sheet at December 31,
2019.
TAMARISK INC.
BALANCE SHEET
DECEMBER 31, 2019
Cash
$20,990
Accounts payable
$30,990
Accounts receivable
22,190
Notes payable (long-term)
41,990
Investments
32,990
Common stock
100,990
Plant assets (net)
81,000
Retained earnings
24,190
Land
40,990
$198,160
$198,160
During 2020, the following occurred.
1.
Tamarisk Inc. sold part of its debt investment portfolio for
$15,071. This transaction resulted in a gain of $3,471 for the
firm. The company classifies these investments as...
Grape Inc. had the following balance sheet at December 31, 2019: Grape INC. BALANCE SHEET DECEMBER...
Grape Inc. had the following balance sheet at December
31, 2019:
Grape INC. BALANCE SHEET DECEMBER 31,
2019
Cash $ 31,000
Accounts payable $ 61,000 x
Accounts receivable 56,800 x
Notes payable (long-term) 76,000
Investments 86,000 x
Common stock 200,000
Plant assets (net) 138,500
Retained earnings 41,300
Land 66,000
Total assets and Total Liabilities and
Stockholders' Equity $378,300
$378,300
During 2020, the following occurred:
1. Grape liquidated
its available-for-sale investment portfolio at a gain of $15,000.
x
2. A tract...
Grape Inc. had the following balance sheet at December 31, 2019: Grape INC. BALANCE SHEET DECEMBER...
Grape Inc. had the following balance sheet at December 31,
2019:
Grape INC. BALANCE SHEET DECEMBER 31, 2019
Cash $ 31,000
Accounts payable $ 61,000
Accounts receivable 56,800
Notes payable (long-term) 76,000
Investments 86,000
Common stock 200,000
Plant assets (net) 138,500
Retained earnings 41,300
Land 66,000
Total assets and Total Liabilities and Stockholders' Equity
$378,300 $378,300
During 2020, the following occurred:
1. Grape liquidated its available-for-sale investment portfolio
at a gain of $15,000.
2. A tract of land was purchased...
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