The following information was extracted from the records of Olympic Company at the end of the fiscal
Question:
The following information was extracted from the records of Olympic Company at the end of the fiscal year after all adjusting entries were completed:
Required:
1. Prepare the stockholders’ equity section of the balance sheet at the end of the fiscal year.
2. Compute and evaluate the dividend yield ratio. Determine the number of shares of stock that received dividends.
Common stock ($0.05 par value; 400,000 shares authorized, 108,000 shares issued, 106,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price per share $5,400 756,000 36,000 215,000 (16,000) $105,000 $ 8.00
Step by Step Answer:
Req 1 Req 2 The dividend yield ratio is 425 36000 1060...View the full answer
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
Related Video
The dividend yield or dividend–price ratio of a share is the dividend per share, divided by the price per share. It is also a company\\\'s total annual dividend payments divided by its market capitalization, assuming the number of shares is constant. It is often expressed as a percentage.
Students also viewed these Business questions
-
The following information was extracted from the records of rael ltd as at 31st October 2020: sh. 000 sh. 000 ordinary shares of sh.20 each 50,000 12% preference shares of sh.15 each 20,000 share...
-
The following information was extracted from the records of Terra Ltd for the year ended 30 June 2024. Required. a. Prepare the current tax worksheet and related journal entries. b. Prepare the...
-
The following information was extracted from quarterly reports for Wal-Mart Stores, Inc. (amounts in millions): The following information was extracted from the notes to the financial statements in...
-
In a task assignment situation, in how many different ways can five jobs be assigned to five machines if each job must be assigned to each machine and each machine must be assigned one job? Multiple...
-
Many people have misconceptions about how profitable small, consistent investments can be. In a survey of 1,010 randomly selected American adults (Associated Press, October 29, 1999), only 374...
-
A test rocket is fired vertically from a launching pad at B. When the rocket is at P the angle of elevation ion is ? =47.0?, and 0.5 s later it is ? = 48.0? . Knowing that b = 4 km, determine...
-
The assets, liabilities, stockholders equity, revenues, and expenses of Carter Design Studio, Inc., have the following balances at December 31, 2010, the end of its first year of operation. During...
-
Classify the following items as (1) operating, (2) investing, (3) financing, or (4) significant noncash investing and financing activities, using the direct method. (a) Cash payments to employees....
-
b. Peter the sole owner of Cheshire Kitchen Tools Pty Ltd has supplied you with the following information to assist in preparing a Cash Budget for January 2025 for his business. He has recently...
-
The cash transactions and cash balances of Banner, Inc., for July were as follows: 1. The ledger account for Cash showed a balance at July 31 of $125,568. 2. The July bank statement showed a closing...
-
Conceptually, does a 2-for-1 stock split immediately increase an investors personal wealth? a. No, because the stock price per share drops by half when the number of shares doubles. b. Yes, because...
-
The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Required: 1. Prepare the stockholders equity...
-
For the system described in Problem 9.24, compute the pressure difference between two points 30.0 ft apart if the duct is horizontal. Use e = 8.5 Ã 10 -5 ft. In Problem Water at 90°F flows...
-
HOW DO I PRESENT THE MARKETING PLAN FOR THE AQUARIUS BRAND?
-
The following PLC connection diagram explains the drilling operation with delay. Modify the circuit, so that you need to only press ONCE both PB1 and PB2 in the beginning to start the program. The...
-
An investor who is liable to 20% income tax is considering buying 1,000 shares of Goldmines PLC that pays annual dividends. The current dividend is 15 per share and has just been paid. Dividends are...
-
Calculate the resistance of 1 0 0 ft of 1 2 - gauge ( 0 . 0 8 0 - in - diameter ) DHP copper wire with a resistivity of 1 . 7 x 1 0 - 8 ohms - cm?
-
Lehman, a listed company that manufactures wooden, has been an audit client of your firm for several years. As an audit senior, you are involved in the Lehman audit for the first time. The company...
-
Oyster pearls are graded A. B. C. and D depending on whether their diameter is 9-10 mm, 7 9 mm. 5-7 mm, or 0-5 mm. respectively. DS 10.3.9 shows how a farmer's pearl crop was categorized. Is it...
-
You are the newly appointed tax practitioner to complete Emilys tax return and have downloaded the prefill report for Emilys tax return (hint, you can read what a prefill report is here (Links to an...
-
If an investor owns more than 50% of an investee, how is this treated on the investors financial statements?
-
What is the major difference in the accounting for a portfolio of trading securities and a portfolio of available-for-sale securities?
-
What is the major difference in the accounting for a portfolio of trading securities and a portfolio of available-for-sale securities?
-
The froghopper Philaenus spumarius is supposedly the best jumper in the animal kingdom. To start a jump, this insect can accelerate at 4.00 km/s over a distance of 2.0 mm as it straightens its...
-
find T(625). I Given the recurrence relation T(n)=7T (n/5)+ 10n for n > 1 T (1)=1 Answer: (please write your answer here, add required space if needed)
-
Given a string length of 1.00 0.01 m and a period of 2.00 0.10, what is the uncertainty in gravity? No need to include units, but give them as m/s^2.
Study smarter with the SolutionInn App