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Which method provides the most useful information to users? Under what circumstances would the other methods provide more useful information?
2010 $10,000 of 2010 installment method sales, of which $1,000 had been collected.
Show the 2010 income statement disclosure of basic earnings per share.
Prepare the journal entries to record the declaration of this property dividend.
Assume instead that Ruby declares and issues a 50% stock dividend when the stock is selling for $30 per share.
Compute the 2010, 2011, and 2012 comparative basic earnings per share that would be disclosed in the 2012 annual report.
On April 2, 2010, the company issued another 2,000 shares of common stock, so that 9,000 common shares were outstanding at the end of 2010.
This common stock has been selling at an average market price of $45 per share.
Each $1,000 bond is convertible into 25 shares of common stock; to date, none of the bonds have been converted.
1,000 shares of 9%, $100 par, preferred stock were issued in 2009 for $140 per share.
Compute the 2010 diluted earnings per share. What earnings per share amount(s) would Caldwell report on its 2010 income statement?
A property dividend to common stockholders consisting of 1,000 shares of West Company common stock.
The company is considering the declaration and issuance of a stock dividend at a time when the market price is $30 per share.
Assuming, instead, that a 30% stock dividend is declared and issued, prepare the stockholders' equity section immediately after the date of issuance.
Preferred stock is nonparticipating and cumulative. Preferred dividends are two years in arrears at the beginning of the year.
Prepare whatever journal entries in 2010 are necessary to correct the Miles Company books for its previous errors.
Perry Company has a retained earnings balance of $400,000 at the end of 2010. During 2010, it had issued $100,000 of five-year, 12%, long-term bonds.
A material error in net income from a previous period was corrected. This error correction increased retained earnings by $9,800 after related income taxes.
Two thousand shares of callable preferred stock were recalled and retired at a price of $150 per share.
Wilk reacquired 1,000 shares of its outstanding common stock at $18 per share. The cost method is used to account for treasury stock.
Show how Wheeler Company would report the earnings per share on its 2010 income statement.
On October 19, 2010, the company declared a 10% stock dividend that resulted in 2,700 additional outstanding shares of common stock.
Indicate which earnings per share figure(s) Frost Company would report on its 2010 income statement.
The diluted earnings per share that should be presented in the Company's income statement for the year ended September 30, 2011.
Sold 500 shares of treasury stock at $27 per share. The company uses the cost method to account for treasury stock.