Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2017, Carla Vista Ltd. had 510,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account:

On January 1, 2017, Carla Vista Ltd. had 510,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account:

Feb. 1 Issued 183,000 shares.
Mar. 1 Issued a 12% stock dividend.
May 1 Acquired 210,000 common shares and retired them.
June 1 Issued a 3-for-1 stock split.
Oct. 1 Issued 51,000 shares.

The companys year end is December 31.

Determine the weighted average number of shares outstanding as at December 31, 2017.

Assume that Carla Vista earned net income of $3,525,000 during 2017. In addition, it had 90,000 of 11%, $100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number of shares determined above

Assume that Carla Vista earned net income of $3,525,000 during 2017. In addition, it had 90,000 of 11%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number of shares determined above

Assume that Carla Vista earned net income of $3,525,000 during 2017. In addition, it had 90,000 of 11%, $100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Assume that net income included a loss from discontinued operations of $449,000, net of applicable income taxes. Calculate earnings per share for 2017.

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

QuickBooks Step-by-Step Guide To Bookkeeping And Accounting For Beginners

Authors: Kevin Ellis

1st Edition

1951345126, 978-1951345129

More Books

Students also viewed these Accounting questions