1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
marta [7]
3 years ago
15

On January 1, 2018, Wilke Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions t

hat affected the Common Stock account.
February 1Issued 120,000 shares

March 1Issued a 10% stock dividend

May 1Acquired 100,000 shares of treasury stock

June 1Issued a 3-for-1 stock split

October 1Reissued 60,000 shares of treasury stock

(a) Determine the weighted-average number of shares outstanding as of December 31, 2018.

(b) Assume that Wilke Corp. earned net income of $3,456,000 during 2018. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a).

(c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018.

(d) Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $432,000 (net of tax). Compute earnings per share for 2018.
Business
1 answer:
grandymaker [24]3 years ago
5 0

Answer:

<h2><u>Task a:</u></h2>

<u>Determine the weighted-average number of shares outstanding as of December 31, 2018.</u>

The answer is 1,762,000.

<h2><u>Task b:</u></h2>

<u>Assume that Wilke Corp. earned net income of $3,456,000 during 2018. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a).</u>

Earnings per share (EPS) 2018 = $1.45 per share

<h2><u>Task c:</u></h2>

<u>Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018.</u>

Earnings per share (EPS) 2018 = $1.96 per share

<h2><u>Task d:</u></h2>

<u>Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $432,000 (net of tax). Compute earnings per share for 2018.</u>

Earnings per share (EPS) 2018 = $2.21 per share

<u></u>

Explanation:

The workings are attached in the file attached. Workings

Download docx
You might be interested in
Pat manages the customer care department of her firm. She is very happy with her team of 15 customer care representatives​ who'v
Serggg [28]

Answer:

Motivation

Explanation:

<em>Motivation in work is when employees are incentivized due to their good performance</em>, this happens when they provide the company a greater value. There are two kinds of motivation:

  • Internal: it includes emotions and thoughts, <em>in the exercise given this internal motivation is letting the team know that they are doing good</em>
  • External: includes salary and work environment, <em>in the case given the bonuses are the external motivation</em>

I hope you find this information is useful and interesting! Good luck!

3 0
2 years ago
This information relates to Wildhorse Co..
noname [10]

Answer:

Wildhorse Co.’s books

Perpetual Inventory System

Date                  Account                                        Dr.              Cr

5 April                 Merchandise Inventory       $28,200

                              Accounts/ Notes Payable                                $28200

Purchased merchandise from Carla Vista Company for $28,200, terms 2/10, n/30.

6 April                 Freight Charges                  $ 710

                                Cash                                                   $ 710

Paid freight costs of $710

7 April                    Equipment                    $ 33200

                               Accounts Payable                              $ 33,200

Purchased equipment on account for $33,200.

8 April                 Accounts Payable             $3800

                                Merchandise Inventory                     $ 3800

Returned $3,800 of April 5 merchandise

15 April                  Accounts Payable               $ 24,400

                                 Purchases Discount                              488

                                 Cash                                                       $ 23,912

Paid the amount due ($28,200- $3800= $24,400)

2% of $ 24,400= $ 488

b. Payment of balance due on May 4 instead of Apr 5

4 May                Accounts Payable             $ 24,400

                                   Cash                                                  $ 24,400

4 0
3 years ago
How does globalization affect your life?
lina2011 [118]

Globalization affects all lives across the world with the world being completely connected by it.  All of the points given here are valid.

Explanation:

Due to a globalized economy we are able to -

-Buy clothes and items from across the world and get them shipped to us. We also are able to buy things made in different parts of the world.

- The communication between the whole world is now clicks away from each other

- The websites we use are created in other countries sometimes.

-The businesses in one's own country are often foreign businesses.

All of these are things that are happening due to globalization as the world has become completely interconnected and interdependent.

4 0
3 years ago
The gdp price index equals?
Daniel [21]
Sjjsdi sekjeejh jsjsjjedkjdjdjrjfjr
3 0
1 year ago
An RBS Risk Impact Assessment benefits from information gathered from: I. Onsite examination II. Offsite examination III. News r
Ivan

not being rude but how many question do you have  how do you do that

i know the answer though

4 0
2 years ago
Other questions:
  • According to the long-run Phillips Curve:
    12·1 answer
  • On May 3, 2020, Pina Company consigned 90 freezers, costing $470 each, to Remmers Company. The cost of shipping the freezers amo
    10·1 answer
  • Which demographic category reported the least amount of stress during 1983, 2006, and 2009?
    6·1 answer
  • Using reasonable safeguards to protect phi from being accidentally released to those who do not need access to the information d
    11·1 answer
  • ​A recent study conducted by the University of Nevada revealed that cyberloafing (wasting time online) costs U.S. businesses mor
    12·1 answer
  • The purpose of a PERT network is: to monitor the quality of a product for compliance with ISO 9000 standards. to monitor the pro
    6·1 answer
  • On June 10, Sheridan Company purchased $7,700 of merchandise from Crane Company, terms 3/10, n/30. Sheridan Company pays the fre
    12·1 answer
  • A company offers ID theft protection using leads obtained from client banks. Three employees each work 40 hours a week on the le
    7·1 answer
  • Shiny Industries producers of crab meat can issue perpetual preferred stock at a price of $31.86 per share. The stock would pay
    15·1 answer
  • an employee is found to have grossly mistreated a client, which the employee has never done before. what consequence should be a
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!