The following information was extracted from the records of TAC Corporation at the end of the fiscal
Question:
The following information was extracted from the records of TAC Corporation 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 ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2,000 shares) Net income Current stock price per share $680,000 163,000 16,000 75,000 (25,000) $ 30,000 $ 22.29
Step by Step Answer:
Req 1 Req 2 The dividend yield ratio is 224 16000 32000 ...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...
-
Equation 11.14 can be expressed in "coordinate-free" form by writing P0 cos = P0 r. Do so, and likewise for Eqs. 11.17, 11.18. 11.19, and 11.21.
-
The article Irritated by Spam? Get Ready for Spit (USA Today, November 10, 2004) predicts that spit, spam that is delivered via Internet phone lines and cell phones, will be a growing problem as...
-
The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:...
-
Discuss the guidelines that project mangers can use to improve cash flow.
-
Fred Nappa is planning to take a wine-tasting tour through Italy this summer. The tour will cost 2,750 euros () and includes transportation, hotels, and a guide. Fred estimates that round-trip...
-
Arndt, Incorporated reported the following for 2024 and 2025 ($ in millions): Revenues Expenses 2024 $ 948 804. 2025 $ 1,040 860 Pretax accounting income (income statement) Taxable income (tax...
-
On August 3, Srini Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be eight years, with a residual value of $50,000. a....
-
Peters and Associates is a small manufacturer of electronic connections for local area networks. Consider the three cases below as independent situations. Case 1: Peters increases its cash dividend...
-
Assume for each of the following independent cases that the annual accounting period ends on December 31. Revenues for the year were $144,000. Expenses for the year were $164,000. Case A: Assume that...
-
Moonlight Bay Inn is incorporated on January 2, 2017, by its three owners, each of whom contributes $20,000 in cash in exchange for shares of stock in the business. In addition to the sale of stock,...
-
Explore the narrative techniques and thematic preoccupations of Franz Kafka's "The Metamorphosis," particularly focusing on the existential crisis of the protagonist and the alienation from society .
-
Total Property Services earned $160,000 of service revenue during 2025. Of the $160,000 earned, the business received $134,000 in cash. The remaining amount, $26,000, was still owed by customers as...
-
Approximately 16 States have legislated some form of blended sentencing provisions as an alternative in dealing with violent juveniles." (ojp.gov) Blended sentencing refers to the imposition of...
-
How does Toni Morrison employ symbolism and allegory in "Beloved" to address the psychological trauma of slavery and the enduring legacy of oppression on the African American psyche ?
-
Lisa has worked in Alberta with MWG Developments since 2 0 0 1 . Lisa's employment is being terminated exactly halfway through the current bi - weekly pay period due to departmental restructuring....
-
Claude James, a salesman, needs a new car for use in his business. He expects to be promoted to a supervisory job at the end of 3 years, and so his concern now is to have a car for the 3 years he...
-
Clark, PA, has been engaged to perform the audit of Kent Ltd.s financial statements for the current year. Clark is about to commence auditing Kents employee pension expense. Her preliminary enquiries...
-
For each of the following payroll-related taxes, indicate whether they generally apply to (a) Employees only, (b) Employers only, or (c) Both employees and employers: 1. Federal income tax 2....
-
For each of the following payroll-related taxes, indicate whether they generally apply to (a) Employees only, (b) Employers only, or (c) Both employees and employers: 1. Federal income tax 2....
-
In a payroll system, what types of input data are referred to as (a) Constants (b) Variables?
-
Deep in space there is an average particle density = 0 . 9 9 cm -3 3 and an extremely low pressure of P 0 = 4 . 9 x 1 0 - 1 -17 N / m 2 . What is the average temperature of ( mostly ) empty space?...
-
After analyzing the population data of a bacteria colony, a microbiologist determines that the population of the bacterial colony can be modeled by the equation P(t) = 500e0.1t. (a) What is the...
-
Suppose that the terminal point determined by t is the point (1) on the unit circle. Find the terminal point determined by each of the following. (a) It-t (x, y) = (b) -t (x,y)=([ (x, y) = (c) +t (x,...
Study smarter with the SolutionInn App