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djyliett [7]
3 years ago
7

At December 31, 2020 Bramble Corp. had 298000 shares of common stock and 9800 shares of 6%, $100 par value cumulative preferred

stock outstanding. No dividends were declared on either the preferred or common stock in 2020 or 2021. On January 30, 2022, prior to the issuance of its financial statements for the year ended December 31, 2021, Bramble declared a 100% stock dividend on its common stock. Net income for 2021 was $1143000. In its 2021 financial statements, Bramble's 2021 earnings per common share should be
Business
1 answer:
Vika [28.1K]3 years ago
5 0

Answer:

the earning per common share is $3.83 per share

Explanation:

The computation of the earning per common share is shown below

= Net income ÷ weighted number of outstanding shares

= $1,143,000 ÷ (298,000 shares)

= $3.83 per share

We simply divided the net income from the  weighted number of outstanding shares so that the earning per share could be determined

hence, the earning per common share is $3.83 per share

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x-co issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to reco
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If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit  Cash $100,000 ; Credit to Preferred Stock $100,000.

<h3>How to prepare the journal entry?</h3>

Based on the given information we were told that the company issued  1,000 shares in which the cumulative preferred stock is the amount  $100 cash per share. The appropriate journal entry to record the transaction is:

Journal entry

Debit  Cash $100,000

Credit to Preferred Stock $100,000

( To record preferred stock)

Workings:

Preferred stock = 1,000 shares × $100 cash per shares

Preferred stock = $1000,000

Therefore the correct journal entry to record the transaction is to debit cash with the amount of $100,000 and credit Preferred stock with the amount of $100,000.

Learn more about journal entry here: brainly.com/question/14279491

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6 0
1 year ago
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The Internet Fraud Complaint Center, run by the FBI and the National White Collar Crime Center, indeed analyzes fraud-related complaints.

<h3>What is the Internet-Fraud Complaint Center?</h3>

The Internet-Fraud Complaint Center, based in Fairmont, WV, handles the following internet-related complaints:

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Thus, the Internet-Fraud Complaint Center is run by the FBI and the National White Collar Crime Center to analyze fraud-related complaints.

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5 0
2 years ago
In 2019, Pine Corporation had losses of $20,000 from operations. It received $180,000 in dividends from a 25%-owned domestic cor
zubka84 [21]

Answer:

Consider the following calculations

Explanation:

Net income per books   $65,000

Add back:

Federal income taxes     9,700

Excess contributions       3,000

Life insurance premiums 10,000

$87,700

Subtract:

Tax-exempt interest       (1,500)

Excess depreciation       (4,500)

Taxable income                         $81,700

Dividend received deduction = 160000 x 80% = 128000 (full DRD doesn't create loss).

DRD will be 80% of taxable inome because percent partnership is 25% which is between 20 to 80%.

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