Transactions that affected the common stock account

Reference no: EM13293878

On January 1, 2012, Chang Corp. had 514,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account.

February 1 Issued 148,000 shares
March 1 Issued a 20% stock dividend
May 1 Acquired 112,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 63,500 shares of treasury stock

Assume the same facts as in part (b), except that net income included an extraordinary gain of $907,000 and a loss from discontinued operations of $446,000. Both items are net of applicable income taxes. Compute earnings per share for 2012. (Round answer to 2 decimal places, e.g. $2.55.)

Chang Corp.
Income Statement
For the year ended December 31, 2012

Assume the same facts as in part (b), except that net income included an extraordinary gain of $907,000 and a loss from discontinued operations of $446,000. Both items are net of applicable income taxes. Compute earnings per share for 2012.

Part b info:
Assume that Chang Corp. earned net income of $3,287,000 during 2012. In addition, it had 113,000 shares of 10%, $103 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2012. Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Reference no: EM13293878

Questions Cloud

Obtaining a d-latch and in each case draw the logic diagram : The D-Latch is constructed with four NAND-gates and an inverter. Consider the following three other ways for obtaining aD-Latch, and in each case draw the logic diagram and verify the circuit operation

Find the speed of the block at the equilibrium position : A 5.43 kg block free to move on a horizontal, frictionless surface is attached to one end of a light horizontal spring. find the speed of the block at the equilibrium position of the spring

What required rate of return result in a price per share : Common stock value-Constant growth McCracken Roofing, Inc., common stock paid a dividend of $1.20 per share last year. The company expects earnings and dividends to grow at a rate of 5% per year for the foreseeable future.

Explain lactic acid is a monoprotic acid with a ka : Lactic acid is a monoprotic acid with a Ka of 1.4 x 10-4. What is the percent ionization of a 0.100 M lactic acid solution in the absence and presence of 0.0500 M sodium lactate

Transactions that affected the common stock account : Transactions that affected the Common Stock account.

Determine fsm type of clocked synchronous sequential machine : a. Draw thee logic diagram of the circuit b. Determine the FSM type of this clocked Synchronous Sequential Machine c. list the state-table for the sequential circuit d. draw the corresponding state diagram

What is the rms current drawn by the hair dryer : A hair dryer has a power rating of 1400 W at 110 V rms. Assume the hair dryer circuit contains only resistance. What is the rms current drawn by the hair dryer

Define the ph of a solution that has an initial oxalic acid : What is the pH of a solution that has an initial concentration of 0.25 M oxalic acid and 0.35 M oxalate ion? Consider only the first ionization of oxalic acid (Ka = 5.9 x 10-2).

Explain the reasoning behind your recommendations : Based on what you discovered in the e-Activity, make at least two recommendations for regarding how your selected company should approach its capital budgeting. Explain the reasoning behind your recommendations.

User Account

All Pages