Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10); no changes in

At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10); no changes in account during the year. Shares authorized, 400,000. Shares issued: _______ (all shares were issued at $15 per share. Total cash collected: $2,130,000. Treasury stock: 7,000 shares (repurchased at $14 per share). The treasury stock was acquired after a stock split was announced. Net income, $282,150. Dividends declared and paid: $163,350. Retained earnings beginning balance: $755,000.

image text in transcribedimage text in transcribed

At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10); no changes in account during the year. Shares authorized, 400,000. Shares issued: Treasury stock: 7,000 shares (repurchased at $14 per share). The treasury stock was acquired after a stock split was announced. Net income, $282,150. Dividends declared and paid: $163,350. Retained earnings beginning balance: $755,000. (all shares were issued at $15 per share. Total cash collected: $2,130,000. Required: 1. Complete the following tabulation: Shares authorized Shares issued Shares outstanding 2. What is the balance in the Additional Paid-in Capital account. Additional paid-in capital 3. What is earnings per share (EPS). (Round your answer to 2 decimal places.) Earnings per share

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

More Books

Students also viewed these Accounting questions