Business, 07.06.2020 02:58, mustachegirl311
At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data:
Common stock ($10 par value); no changes in account during the year.
Shares authorized: 240,000.
Shares issued: (all shares were issued at $15 per share; $2,145,000 total cash collected).
Treasury stock: 4,000 shares (repurchased at $21 per share).
The treasury stock was acquired after a stock split was announced.
Net income: $268,270.
Dividends declared and paid: $145,950.
Retained earnings beginning balance: $595,000.
Required:
1. Complete the following tabulation:
2. Calculate the balance in the Additional paid-in capital account.
3. What is earnings per share (EPS)?
4. What was the dividend paid per share?
5. In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be reported?
6. Assume that the board of directors voted a 2-for-l stock split. After the stock split, what will be the par value per share? How many shares will be outstanding?
7. Assuming the stock split mentioned above, prepare any journal entry that should be made.
8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared (before treasury stock repurchase) when the market price of the common stock was $22. Prepare any journal entry that should be made.
Answers: 2
Business, 22.06.2019 06:40, ayleenmorar
Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct. d.
Answers: 2
Business, 22.06.2019 08:30, franstirlacci
Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.
Answers: 1
At the end of the year, the records of NCIS Corporation provided the following selected and incomple...
Mathematics, 19.11.2020 17:40
Mathematics, 19.11.2020 17:40
Mathematics, 19.11.2020 17:40