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iVinArrow [24]
3 years ago
5

Hardaway Fixtures' balance sheet at December 31, 2020, included the following: Shares issued and outstanding: Common stock, $1 p

ar $ 1,040,000 Nonconvertible preferred stock, $50 par 15,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $65,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $4,400,000. Required:Compute Hardaway's earnings per share for the year ended December 31, 2021.
Business
1 answer:
Novay_Z [31]3 years ago
7 0

Answer:

$3.33 per share

Explanation:

Given that,

Common stock, $1 par = $1,040,000

Stock dividend = 25% on its common stock

Net income = $4,400,000

Dividend paid to stockholder's = $65,000

Stock dividend:

= Shares at January 1 × 25%

= 1,040,000 × 25%

= 260,000 shares

Earnings per share:

= (Net income - Preferred dividend) ÷ (Shares at January 1 + Stock dividend)

= ($4,400,000 - $65,000) ÷ (1,040,000 shares + 260,000 shares)

= $4,335,000 ÷ 1,300,000

= $3.33 per share

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babunello [35]

A distribution channel is a type of marketing channel that includes a retailer or other intermediaries in the delivery of goods and services to consumers.

A distribution channel is a network of companies or middlemen (such as suppliers, distributors, shipping hubs, retailers, and the internet) that products and services go through before they are delivered to the final customer. A distribution channel is a series of establishments or middlemen where the ultimate consumer makes their purchase of a product or service.

Retailers, distributors, wholesalers, and the Internet are examples of distribution channels. Manufacturers sell to consumers directly through a direct distribution channel. Before the product reaches the customer through an indirect channel, several middlemen are involved. All products and services must follow a distribution route in order to reach their target clients. On the other hand, it also depicts the payment route taken by funds from the final customer to the initial seller.

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3 0
1 year ago
In year 1, Rim Corporation purchases 1,000 shares of treasury stock for $10 per share. In year 2, Rim reissues 100 shares of the
Alecsey [184]

Answer:

The correct answers are:

C-debit paid-in capital treasury shares $200

D-Debit retained  earnings                     $300

Explanation:

The purchase of treasury stock  for $10 per share implies that the price paid per share is the par value of each share.

Upon issue of 100 shares at $12 the following entries are required:

Dr Cash (100*$12)                  $1,200

Cr Treasury stock(100*$10)                  $1,000

Cr Paid-in capital in excess of par        $200

However upon issue of 500 share at $9 per share which is $1 less than the par value, hence there is $500 discount on the issue.

The discount is recorded as follows:

Dr paid-in capital           $200

Dr Retained earnings    $300

The $200 posted to paid-in capital is the same premium  that posted in there earlier when 100 shares.

5 0
3 years ago
Deirdre was given a raise on her one-year anniversary as a sales assistant. She had not met her monthly goals for the last three
Drupady [299]

Answer:

The answer is: This is an example of real culture practices

Explanation:

An ideal culture are the practices and norms a culture should or is supposed to follow. In an organization everyone should have a positive attitude, work hard, fulfill their goals, etc. But in real life, or real culture, things never happen that way. Real culture are the practices and norms a culture actually follow. In this case, the organization actually valued more the fact that Deirdre spent one year with them and gave her a raise, than the fact that she is not a very good employee.

There is always a gap between an ideal culture and the real culture. People like to preach a lot but they don't always like to follow what they preach.

7 0
4 years ago
Atkinson Company has the following information: Month Budgeted Sales January $76,000 February 85,000 March 92,000 April 80,000 B
Ivan

Answer:

the total operating expenses budgeted for the month of April is $33,200

Explanation:

Total operating expenses budgeted for the month of April is calculated as :

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Special attention must be made on charging the 4% Other expenses on Correct Sales figure - April Sales.

6 0
3 years ago
What is the legal business name of a sole proprietorship
I am Lyosha [343]

Answer:

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Explanation:

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