Excerpts from the financial statements of Macy Limited are as follows. (Numbers are in thousands.) Footnotes:Short-term investments.As
Question:
Excerpts from the financial statements of Macy Limited are as follows. (Numbers are in thousands.)
Footnotes:Short-term investments.As of December 31, 2010, trading securities were valued at $130; during 2011, no available-for-sale securities were acquired or sold.Investment in affiliate.On January 30, 2011, the company purchased 40 percent (50,000 shares) of the outstanding equity of Lehmon Financial Services at $10 per share.REQUIRED:Compute the following dollar amounts.a. The December 31, 2011, market value of the short-term equity investments classified as available-for-sale.b. The balance sheet carrying value of the trading securities sold during 2011.c. Compute the earnings-per-share dollar amount reported by the affiliate.d. Compute the per-share dividend declared by the affiliate.
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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