Jamaica Corporation bought 160,000 shares of Love Corporation for 60 each. One month from purchase, Love declared a 2-for-1 stock split down. Jamaica subsequently sold 20,000 shares. During the last month of the reporting period, Love declared 0.80 dividend per share. How much should Jamaica report as dividend income?
Q: For 2010 and 2011, Sabil Corporation earned net income of $480,000 and S640.000 and paid dividends…
A: Journal entries is the recording of transaction at the initial stage of incurring the transactions.
Q: Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no…
A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…
Q: A company bought back 57,000 shares of its own common stock at $14 per share. Four months later the…
A: Given Information: Company bought back 57,000 shares at price $14 After 4 month 20,000 shares were…
Q: In its IPO, 1 million company shares were issued at a price of $25 per share. The underwriter's fee…
A: We need to compute percentage of total issue cost.
Q: Express, Inc., has a total of 80,000 shares of common stock outstanding and no preferred stock.Total…
A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…
Q: Amanda Company has 40,000 shares of common stock outstanding. The book value per share of this stock…
A: The P/E ratio is the market price divided by the Earnings per Share (EPS).
Q: Bullant Inc. has decided to go public and has sold 2 million of its shares to its underwriter for…
A: Cost of issue = [ Price after listing - Price at which shares are sold to underwriters ] * Number of…
Q: During 2012, A.Co bought shares of B.Co as follows: June 10 2,000 shares @ P100 200,000 December…
A: Gain on Sale of Shares: A gain on sale is the amount of money earned by a corporation when it sells…
Q: Papasa Ka Sa Quali Corporation earned P540,000 during the year. The shareholder’s equity is composed…
A: The dividend is declared to the shareholders from the retained earnings of the business. The…
Q: GROOT Corporation has 350,000 shares of ₱10 par value ordinary shares outstanding. During the year,…
A: Calculation of the decrease in retained earnings for the year::: Share Dividend…
Q: Crabtree Company has 560,000 shares of $10 par value common stock outstanding. During the year,…
A: No. of shares issued under stock dividend = No. of shares outstanding x stock dividend rate Decrease…
Q: Albany Motors recently completed a 3-for-1 stock split. Prior to the split, the company had 10…
A: Stock split refers to the split of existing shares into more number of shares in the proportion as…
Q: Zeff Corporation has 2,000 shares outstanding of cumulative preferred stock and 6,000 shares of…
A: Cumulative preferred stock is a stock whose dividend keeps on cumulating if not received in any…
Q: Reading Co. has outstanding 10,000 shares of $100 par value cumulative preferred stock, with a…
A: Annual Dividends to Preferred Shareholders = (10,000 shares*$100 per share)*7% Annual Dividends to…
Q: Hanson Company has 350,000 shares of P10 par value ordinary shares outstanding. During the year,…
A: A company may decide to distribute dividend either in cash, kind or shares.
Q: Hernandez Company has 560,000 shares of $10 par value common stock outstanding. During the year,…
A: Shares outstanding = 560,000 shares Stock dividend = 15% = 560,000 * 15% = 84,000 shares Stock…
Q: Bonita Corporation earned $405,000 during a period when it had an average of 100,000 shares of…
A: Basic Earnings Per Share = Net Earnings / Average Number of Shares Diluted EPS = Net Earnings /…
Q: On January 20, Whalen Inc. sold 10 million shares of stock in an SEO. The market price of Whalen at…
A: Given: Particulars No. shares sold 10 Primary shares 4 Venture capital 6 Underwriting…
Q: When Microsoft went public, the company sold 2 million new shares (the primary issue). In addition,…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Smith Corporation had 30,000 shares of common stock outstanding during the year. In addition, there…
A: Diluted earnings per share: It refers to the amount of earnings that is available for each share…
Q: Hootie and the Blowfish have net income of $1,000,000. They pay preferred dividends of 100,000…
A: We know that EPS is calculated on earning available to common/Equity/Ordinary equity shares. We can…
Q: On January 1, Tasty Foods purchased 3,000 shares (30%) of Eco-Safe Packaging’s voting stock for $12…
A: Equity method of investment: It can be defined as the method that is used by the investors for…
Q: Howard corporation had 10,000 shares of common stock outstanding at the beginning of the year. On…
A: Weighted average number of shares is the total number of outstanding shares calculated at the end of…
Q: Muscat Electrical Company has been around for three years. During this time, it reported the…
A: Calculation of amount of retained earnings balance at the end of three years after declaration of…
Q: Nirvana have net income of $1,000,000. They pay preferred dividends of 100,000 during the year and…
A: EPS= 94.73 Explanation: EPS= (Net income- Dividents to preferred shares)/ average outstanding shares…
Q: Elroy Corporation repurchased 3,400 shares of its own stock for $40 per share. The stock has a par…
A: Preparing journal entries for treasury stock:
Q: What amount should Romina Inc. report as dividend income?
A: No of shares bought by Romina Inc. = 160,000 shares No of shares after stock split =…
Q: Kuhns Corp. has 200,000 shares of preferred stock outstanding that is cumulative and 100,000 common…
A: Preferred stock are those stock which are given preference over the common stock holder while…
Q: Ahnberg Corporation had 520,000 shares of common stock issued and outstanding at January 1. No…
A: Definition: Earnings per share (EPS): The amount of net income available to each shareholder per…
Q: On April 1, Blue Devil Inc. has 300,000 shares of $20 par value common stock that are issued and…
A: a. Shares of common stock are issued and outstanding immediately following the stock split: = Common…
Q: The Jennings Group reacquired 2 million of its shares at $70 per share as treasury stock. Last year,…
A: Treasury Stock: It refers to the shares reacquired by the corporation that are already issued to the…
Q: Rogers has just completed their financial statements for the year ended 30 June 20X6. They are…
A: We have the following information: Net Profit: $1,250,000 Shares in issue: $1,000,000 of 50 cent…
Q: The Glendora Company has 200,000 shares of cumulative, five percent, $100 par value preferred stock…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares…
A: First, compute the weighted average common stock outstanding Weighted average common stock…
Q: Marigold Corp. began business by issuing 220000 shares of $5 par value common stock for $23 per…
A: Shareholders' equity balance indicates the investment balance of stockholders. It includes common…
Q: A company has net earnings of AED 10,000 for the current vear and suppose the company maintains the…
A: In order to determine the earnings per share, the earnings available to equity shareholders are…
Q: During the current year, Corporation A had 100,000 shares of common stock outstanding. On July 1,…
A: The formula to calculate the current ratio is (Current Assets/Current Liabilities) Stock split is a…
Q: On September 15, YG Corporation splits up its share 2-for-5 when the market value was USD65 per…
A: Concept of stock split up: The concept of stock split up is to indicate the effective increase of…
Q: National Co. recently completed a 3-for-1 stock split. Prior to the split, the company had 10…
A: A 3 for 1 stock split means that every share is converted into 3 shares. This increases the number…
Q: Please show all equations and work as needed. Make the correct answer clear. If possible, please…
A: As requested, I have typed the calculations for your convenience.The company sold 4 million of…
Q: The Tornado Truck Body Company decides to repurchase 10,000 shares of its common stock on January…
A: If the treasury stock is resold, offset the sale price against the treasury stock account, and…
Q: Chikage Inc's latest net income was $1,400,000, and it had 210,000 shares outstanding. The company…
A: Net income=1400000Shares outstanding=210000Payout ratio=40%
Q: The Channing Company earmed $64,000 last year. The capital stock of the company consists of $500.000…
A: Dividend: It can be defined as the distribution of the net profits of the company to its…
Q: Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase,…
A: No. of shares after stock split down = No. of shares issued before stock split down x stock split…
Q: 16. During Year One, Hancock Corporation buys 2,000 shares of Waltz Inc. for P34 per share. Hancock…
A: Investment shall be valued at cost or market price whichever is lower.
Q: When Microsoft went public, the company sold 2 million new shares (the primary issue). In addition,…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: company reported earnings available to common shareholders as $4,200,000 last year. From those…
A: Cost of preferred stock is the return which the preference shareholders expect on their investments.…
Jamaica Corporation bought 160,000 shares of Love Corporation for 60 each. One month from purchase, Love declared a 2-for-1 stock split down. Jamaica subsequently sold 20,000 shares. During the last month of the reporting period, Love declared 0.80 dividend per share. How much should Jamaica report as dividend income?
Step by step
Solved in 2 steps with 1 images
- On May 1, Republic Corporation purchased 400 shares of stock for P114 per share and held it as FVTPL financial assets. The price decreased to P106 per share on August 1 and then increased to P122 on December 31. During the year, the company received dividends of P3.50 per share. At what amount should the investment be valued in the December 31 balance sheet?Romina Inc. purchased 160,000 shares of Magui Company for $60 each. One month after the purchase, Magui Company declared a 2-for-1 stock split down. Romina Inc. subsequently sold 20,000 shares. During the last month of the reporting period, Magui Company declared $0.80 dividend per share. What amount should Romina Inc. report as dividend income?ABC Corp has produced its first set of financial results. Ordinary shares in the company were issued at the start of the financial year at a price of $2.00 each. The par value of each ordinary share in was 0.10. 50 million shares were issued by the company and the first year's profit for the year is $15 million. The current market price of the shares is $2.70. What is the price/earnings ratio? a. .11 b . .33 c. 9 d. 6.67
- Chikage Inc's latest net income was $1,400,000, and it had 210,000 shares outstanding. The company wants to pay out 40.0% of its net income as dividends. What dividend per share should it declare? Do not round your intermediate calculations.Platinum Corporation bought 160,000 shares of Ore Corporation for P60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared P0.80 dividend per share. How much should Platinum report as dividend income?Emaline Returns. If the share price of Emaline, a New Orleans-based shipping firm, rises from $12.00 to $15.00 over a one-year period, calculate the rate of return to the shareholder given each of the following: a. The company paid no dividends. b. The company paid a dividend of $1.00 per share. c. The company paid the dividend and the total return to the shareholder is separated into the dividend yield and the capital gain. ..... a. What is the rate of return to the shareholder if the company paid no dividends. The shareholder return is %. (Round to three decimal places.)
- Rodgers has just completed its financial statements for the year ended 30 June 20X6. It is reporting a net profit of $1,250,000 for the current year, and has $1 million of 50 cent shares in issue. The current market price of Rodgers' shares is $3.50. What is the Price Earnings (P/E) ratio of Rodgers for the year ended 30 June 20X6?Bonita Co. invested $910,000 in Windsor Co. for 25% of its outstanding stock. Windsor Co. pays out 30% of net income in dividends each year.Use the information in the following T-account for the investment in Windsor to answer the following questions. Investment in Windsor Co. 910,000 99,000 29,700 (a) How much was Bonita Co.’s share of Windsor Co.’s net income for the year? Net income $enter Bonita’s net income in dollars (b) What was Windsor Co.’s total net income for the year? Total net income $enter the total net income of WindsorCo. for the year (c) What was Windsor Co.’s total dividends for the year? Total Dividends $enter the total dividends of WindsorCo. for the year (d) How much was Bonita Co.’s share of Windsor Co.’s dividends for the year? Dividends $enter the dollar amount of dividends for Bonita Co.What is the net income for the current year? During the year, Homo sold 100,000 shares with P20 par value for P30 per share and received cash in full. Dividend of P1, 500,000 was paid in cash during the year. The increase (decrease) in the accounts of Homo Company for the current year are as follows: Equipment P3,000,000 (800,000) Accounts payable Cash 1,500,000 Bonds payable 2,000,000 Investments (1,000,000) Accounts receivable (net) 3, 500,000 Inventory 3,900,000 Equipment with Fair value of P2,000,000 was donated by a shareholder during the year. Your answer
- Friar Inc. reported net income for Year Five of $2,480,000. It had 720,000 shares of common stock outstanding on January 1, Year Five, and repurchased 120,000 of those shares on September 1, Year Five, as treasury stock. The company has no preferred stock. At the end of Year Five, Friar’s stock was selling for $27 per share. Which of the following is Friar’s price-earnings ratio on that date? Responses 6.54 7.85 9.15 7.40Bolton Corporation had additions to retained earnings for the year just ended of $248,000. The firm paid out $187,000 in cash dividends, and it has ending total equity of $4.92 million. The company currently has 150,000 shares of common stock outstanding. a. b. c. d. If the stock currently sells for $80 per share, what is the market-to-book ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) e. What is the price-earnings ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) f. If the company had sales of $4.74 million, what is the price-sales ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)The following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the price-earnings ratio of the company? 12 times 20 times 15 times 16 times