NuCorp presented the following data. Net income ..................$ 5,800,000 Bonds: 10%, $750,000 par value ......... 738,500 Preferred

Question:

NuCorp presented the following data.

Net income ..................$ 5,800,000

Bonds: 10%, $750,000 par value ......... 738,500

Preferred stock: 100,000 shares outstanding,

$100 par, 8% cumulative, not convertible ..... 10,000,000

Common stock: Shares outstanding 1/1 ....... 500,000

Issued for cash, 4/1 ............... 800,000

Issued 40% stock dividend, 10/1


Instructions

Compute earnings per share.


Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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