Thumper Horticultural Products Inc. reported $816,300 profit in 2019. On December 24 2019 Thumper Inc. declared...
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Thumper Horticultural Products Inc. reported $816,300 profit in 2019. On December 24 2019 Thumper Inc. declared a dividend on the 15,000, $2 cumulative preferred shares outstanding. The following changes in common shares outstanding occurred during the year. Jan Apr. 1 300,000 common shares were outstanding. Purchased and retired 40,000 common shares Declared and issued a 15% common share dividend. 1 Sept. 30 1 Issued 15,000 common shares Nov. Nov. 30 Declared a 2:1 stock split to the shareholders of record on Dec 1, distributable Dec 15. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places. Thumper Horticultural Products Inc. reported $816,300 profit in 2019. On December 24 2019 Thumper Inc. declared a dividend on the 15,000, $2 cumulative preferred shares outstanding. The following changes in common shares outstanding occurred during the year. Jan Apr. 1 300,000 common shares were outstanding. Purchased and retired 40,000 common shares Declared and issued a 15% common share dividend. 1 Sept. 30 1 Issued 15,000 common shares Nov. Nov. 30 Declared a 2:1 stock split to the shareholders of record on Dec 1, distributable Dec 15. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places.
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Outstanding share on Jan 01 is 300000 On Apr1 Purchase and retired 40000 common shares So 300000 ... View the full answer
Related Book For
Horngrens Accounting
ISBN: 9780135359785
11th Canadian Edition Volume 2
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood
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