Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. 2. 3. Sandhill's net income in 2020 was $25,000 and was $22,000 in 2019. Compute basic and diluted earnings per share for Sandhill for

1. image text in transcribed

image text in transcribed

2. image text in transcribed

image text in transcribed

3.

image text in transcribed

Sandhill's net income in 2020 was $25,000 and was $22,000 in 2019. Compute basic and diluted earnings per share for Sandhill for 2020 and 2019. (Round answers to 2 decimal places, e.g. 52.75.) 2020 2019 Basic earning per share $ 2.50 $ 2.20 Diluted earning per share $ 2.31 $ 2.13 On January 1, 2020. Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value. 55,000 shares issued and outstanding) $550,000 Paid-in Capital in Excess of Par-Common Stock 490,000 Retained Earnings 601,000 Jan. 15 During 2020. the following transactions occurred. Declared and paid a $1.05 cash dividend per share to stockholders. Apr. 15 Declared and paid a 10% stock dividend. The market price of the stock was $13 per share. May 15 Reacquired 1.800 common shares at a market price of $16 per share. Nov. 15 Reissued 900 shares held in treasury at a price of $18 per share. Determined that net income for the year was $364.000 Dec. 31 (21) Journalize the above transactions. (Include entries to close net income to Retained Earnings.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Debit Credi Account Titles and Explanation Retained Earnings Jan 15, 2020 57500 Cash Apr. 25. 2020 Retained Earnings 71500 Common Stock Pald-in Capital in Excess of Par - Common Stock May 15, 2020 Treasury Stock 28800 Cash Nov. 15, 2020 Cash 16200 Treasury Stock Pald-in Capital from Treasury Stock Dec 31, 2020 V Income Summary 364000 Retained Earnings (a2) Determine the ending balances for Paldin Capital. Retained Earnings and Stockholders' Equity. Ending balances Paid-in Capital $ Retained Earnings $ Stockholders' Equity $ Bridgeport Corporation issues $430,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) Issue price of the bonds $ 406926

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles And Techniques

Authors: Sanjib Kumar Basu, Andrei Alexandrescu

1st Edition

8177581783, 9788177581782

More Books

Students also viewed these Accounting questions

Question

What is the primary responsibility of a business? Explain.

Answered: 1 week ago