User Account

All Pages

Compute dows earnings per share for the year

Assignment Help Financial Accounting
Reference no: EM131795619

On December 31, 2012, Dow Steel Corporation had 740,000 shares of common stock and 44,000 shares of 10%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $540,000 and $83,000 to common and preferred shareholders, respectively, on December 15, 2013.

On February 28, 2013, Dow sold 68,000 common shares. In keeping with its long-term share repurchase plan, 3,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2013, was $2,800,000. The income tax rate is 40%.

Required:

Compute Dow's earnings per share for the year ended December 31, 2013. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM131795619

Questions Cloud

What is the net present value of the given cash flows : What is the net present value of the following cash flows if the relevant discount rate is 11.4 percent?
Algernon never paid the sums due on the contract : Algernon never paid the sums due on the contract, and Arnold and the corporation were sued. What is the liability of Arnold?
Examine two advantages of both the ids and ips : Explain which option (IDS or IPS, Host-based or Network) you would select if an organization you worked for could only have one or the other.
What us the average number of people in line : what is the average number of people receiving and waiting to receive tickets? what us the average number of people in line?
Compute dows earnings per share for the year : Compute Dow's earnings per share for the year ended December 31, 2013. Do not round intermediate calculations. Round your answer to 2 decimal places
Prepare a journal entry to record the disposal of equipment : Prepare a journal entry to record the disposal of the equipment, a salvage value of 5,000 and a useful life of 10 years.
Create a summary report on a topic of information systems : Create a summary report on a topic relating to Information Systems that has impacted a business decision or served prominently as a solution utilized.
Determines an intangible asset is included in balance sheet : Describe how U.S. GAAP determines whether an intangible asset is included in the balance sheet. In general, what is an intangible asset? Give several examples.
Ordering quantity compute the annual carrying costs : Given the above ordering quantity compute the annual carrying costs, order costs and total costs for this operation?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Evaluate the amount of gross profit or loss

Determine the amount of gross profit or loss to be recognized in each of the three years using the percentage-of-completion method.

  Prepare journal entries to close the drawings accounts

Prepare a worksheet to show the calculation of the new partner's capital and any bonus to or from the existing partners.

  Question 1 refer to the article pawsey n brown a amp

question 1 refer to the article pawsey n. brown a. amp chatterjee b. 2011. lsquothe potential adoption of ifrs for u.s.

  Illustrate what is the direct labor efficiency variance

The standard direct labor wage are is $8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct labor hours. Illustrate what is the direct labor efficiency variance?

  Preparing closing entries using journal entries-t-accounts

Prepare entries to close these accounts in journal entry form. Set up T-accounts for each of these ledger accounts, enter the balances above, and post the closing entries to them. After these entries are posted, what is the post-closing balance of th..

  Calculation of maximum amount of additional finance that

calculation of maximum amount of additional finance that can be borrowed.bpc anticipates reaching a sales level of 6

  What is the journal entry that would record transaction

The cost of the equipment is $10,000. The company has been offered $300 for its parts. What is the journal entry that would record this transaction?

  Different tax considerations for investment tax credit

Suppose a service organization has a mixed cost function. When it experiences a 5% increase in sales, income increases by more than 5%. Explain why this occurs.  What are the different tax considerations for investment tax credit? As you research JIT..

  Annual contract fee plus

You agreed to pay your artist friend a $10,000 annual contract fee plus a $300 design fee for each of the 12 T-shirt pictures designed. This same term is renewable for the next 3 years. Each T-shirt picture will only be used for one year.

  Companys overall net operating income

A study has been conducted to determine if one of the departments in Parry Company should be discontinued. The contribution margin in the department is $50,000 per year. Fixed expenses charged to the department are $65,000 per year. These data indica..

  Question victory company uses weighted-average procedure

question victory company uses weighted-average procedure costing to account for its production costs. direct labor is

  Last payday in an accounting period

If $3,000 has been earned by a company’s workers since the last payday in an accounting period, the necessary adjusting entry would be:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd