16-4 On January 1, 2016, when its $30par value common stock was selling for $80per share, Sage Corp. (see attachment for full question)

16-10On November 1, 2017, Skysong Company adopted a stock-option plan that granted options to key executives to purchase38,100shares of the company's $10par value common stock. (see attachment for full question)

16-11 Bridgeport Corporation had273,000shares of common stock outstanding on January 1, 2017. On May 1, Bridgeport issued33,000shares. (see attachment for full question)

16-14Kingbird Company issues11,000shares of restricted stock to its CFO, Mary Tokar, on January 1, 2017. (see attachment for full question)

16-18 Swifty Inc. presented the following data.(see attachment for full question)

Net income

$2,610,000

16-24 The Teal Corporation issued 10-year, $5,390,000par,7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. (see attachment for full question)

On November 1, 2017, Skysong Company adopted a stock-option plan that granted options to key executives to purchase 38,100 shares of the company's $10 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $40, and the fair value option-pricing model determines the total compensation expense to be $571,500. All of the options were exercised during the year 2020: 25,400 on January 3 when the market price was $67, and 12,700 on May 1 when the market price was $76 a share. Prepare journal entries relating to the stock option plan for the years 2018, 2019, and 2020. Assume that the employee performs services equally in 2018 and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.) Date Jan. 3, 2020 May 1, 2020 Account Titles and Explanation Debit Credit Bridgeport Corporation had 273,000 shares of common stock outstanding on January 1, 2017. On May 1, Bridgeport issued 33,000 shares. (a) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued for cash. $ Weighted-average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued in a stock dividend. $ Weighted-average number of shares outstanding Kingbird Company issues 11,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2017. The stock has a fair value of $550,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2021. The par value of the stock is $10. At December 31, 2017, the fair value of the stock is $386,000. (a) Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant), and December 31, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit (b) On July 25, 2021, Tokar leaves the company. Prepare the journal entry to account for this forfeiture. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date 7/25/21 Account Titles and Explanation Debit Credit Swifty Inc. presented the following data. Net income Preferred stock: 51,000 shares outstanding, $100 par, 7% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 $2,610,000 5,100,000 686,400 312,000 160,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) $ Earnings per share The Teal Corporation issued 10-year, $5,390,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 13:1, and in 2 years it will increase to 16:1. At the date of issue, the bonds were sold at 97. Bond discount is amortized on a straight-line basis. Teal's effective tax was 40%. Net income in 2017 was $10,350,000, and the company had 2,170,000 shares outstanding during the entire year. (a) Compute both basic and diluted earnings per share. (Round answers to 2 decimal places, e.g. $2.55.) $ Basic earnings per share $ Diluted earnings per share On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Sage Corp. issued $10,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $11,340,000. The present value of the bond payments at the time of issuance was $8,925,000, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2017, the corporation's $30 par value common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2018, when the corporation's $15 par value common stock was selling for $135 per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums. (a) Prepare the entry to record the original issuance of the convertible debentures. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the entry to record the exercise of the conversion option, using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit