Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

step by step if possible plz Exercise 19-13 (Algo) EPS; treasury stock; new shares; stock dividends; two years (L019-5, 19-6) The Alford Group had 250,000

step by step if possible plz
image text in transcribed
Exercise 19-13 (Algo) EPS; treasury stock; new shares; stock dividends; two years (L019-5, 19-6) The Alford Group had 250,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding 2021 Feb. 28 Purchased 3,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28, Nov. 30 Issued 12,000 new shares. Dec. 31 Net income for 2021 is $1,494,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock split. Dec. 31 Net income for 2022 is $1,494,000. Required: 1. Determine the 2021 EPS. (Do not round intermediate calculations.) 2. Determine the 2022 EPS. 3. At what amount will the 2021 EPS be presented in the 2022 comparative financial statements? (For all requirements, Enter your answers in thousands.) Numerator / Denominator Earnings per Share 1 2 1 11 3 /

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

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

4th edition

78025524, 978-0078025525

More Books

Students also viewed these Accounting questions