Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

problem 13-9A Thx CHAPTER O Corporate Reporting Proft, Earnings Per Share, and Rotined Emin hare information, Round Negu 1. Reguired Preare a corrected income statement,

image text in transcribed

problem 13-9A Thx

CHAPTER O Corporate Reporting Proft, Earnings Per Share, and Rotined Emin hare information, Round Negu 1. Reguired Preare a corrected income statement, including earning many shares were ou 2. Hew much profit did the per share cakculations to the nearest whole cent. Problem 13-9A Dividends, statement of changes in equity L CHECK FIGURES: Retaned earnings, Dec. 31, 2020- $388.962; Totai 845 1, 2019: AL RNATE PRO Kaye Hictech Inc. had the following equity account halances at Dec Problean 13-1B Earnings CHECK FIGURES: Woighted Prelermed sharis, 52.50, non-cunulstive Authorized 20.200 sheres $ 35.700 The original income state published in 2019, 2020, Isued and outstandng: 5,100 shares. Conmon shares Authanaed Unmted 289,387 Ssued and outstanding: 85,500 shares Rned eomings 41,000 Sales Expense On February 1, 2020, 5,100 preferred shares were issued at $7.80 each. The board of directors declaed and paid the annual cash dividend on the preferred shares on June 30, 2020, and a 10% common stae dividend was declared and distributed on the same day when the market price per common share wa $4.25. On October 1, 2020, 20,200 common shares were issued at $4.39 each. Profit earned during 2 endng Pront fro Gan (ler Prott was S409800. Reyuired Using the information provwided, prepare the statement of changes in equity for the year tine December 31. 2020. The company also e years through the fo Problem 13-10A Retirement of shares, retained earnings analysis LO1, 2, 5 Hla Me SOLVE I Dut CHECK FIGURELOutstanding shares Oct. 5 22.200 20 Note: Problem 13-108 covers LO1,5 with ne retirement of shares. The equity section from the Deormber 31, 2020 and 2021. balance sheets of Westburne Corporation agpeand as follows 2. Conadcaptal 2020 2021 Common share S0000 sares uhoned 22.200 and 20.000 shares dand utndng,espectively Retained eaings $486,920 $392.000 560,000 448.000 The following transactions occurred durina

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_2

Step: 3

blur-text-image_3

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

Financial Accounting A Concepts Based Introduction

Authors: David Kolitz

1st Edition

1138844977, 978-1138844971

More Books

Students also viewed these Accounting questions