Need rn! How do you journalize the transaction "paid cash for merchandise" in an expanded journal?

The Alford Group had 230,000 shares of common stock outstanding on January 1, 2021. The following activities affected common sha

jeka94

Answer:

a. $7 per share

b. $2.29 per share

c. $3.5

Explanation:

a. The computation of 2021 earning per share is given below:-

EPS = Net income ÷ Weighted Average Outstanding shares of common stock

Weighted Average Outstanding shares of common stock for 2021

= (230,000 × 12 ÷ 12) - (27,000 × 10 ÷ 12) + (27,000 × 2 ÷ 12) + (108,000 × 1 ÷ 12)

= 230,000 - 22,500 + 4,500 + 9,000

= 221,000

EPS for 2021 = Net income ÷ Weighted Average Outstanding shares of common stock for 2021

= $1,547,000 ÷ 221,000

= $7 per share

b. The computation of 2022 earning per share is given below:-

Shares of common stock at the beginning of 2022 = 230,000 - 27,000 + 27,000 + 108,000

= 338,000

Weighted average outstanding shares for 2022 = 338,000 × Stock split

= 338,000 × 2

= $676,000

EPS for 2022 = Net income ÷ Weighted Average Outstanding shares of common stock for 2022

= $1,547,000 ÷ $676,000

= $2.29 per share

c. The computation of 2021 EPS be presented in the 2022 comparative financial statements is shown below:-

2021 EPS be presented in the 2022 comparative financial statements = Net income ÷ (Weighted Average Outstanding shares of common stock for 2016 × Stock split)

= $1,547,000 ÷ (221,000 × 2)

= $1,547,000 ÷ 442,000

= $3.5

4 0

3 years ago

A government is torn between selling annual pollution allowances and setting an annual pollution tax. Unlike in the messy real w

elena-14-01-66 [18.8K]

Answer: Both will raise the same amount

Explanation:

The government here is certain that it can achieve the same quantity and price regardless of if it uses a pollution tax or pollution allowance. This means that it would be charging the companies the same regardless of the method used.

Both methods would therefore yield the same amount if the government uses either of them.

3 0

2 years ago

A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i

saul85 [17]

Tell them to wait patiently, and give them a
drink

7 0

4 years ago

Read 2 more answers

Lakeview Company completed the following two transactions. The annual accounting period ends December 31.

Ann [662]

Answer: Check attachment and explanation.

Explanation:

a. The question has been solved. Check the attachment.

b. LAKEVIEW COMPANY

Balance sheet (Partial)

December 31

Current liabilities

FICA Payable=$4800 + $4800= $9600

Charitable contribution payable = $2400

Withheld income tax payable = $6400

State and Federal unemployment tax payable = $560

Unearned rent revenue = $5700 - $3800 = $1900

Total current liabilities = $20860

6 0

3 years ago

Ou are chatting with one customer when another begins asking you questions. the second customer is in a hurry and wants immediat

Tpy6a [65]

You should prioritize your first customer since they are entitled with your full attention being the one who availed your service first. You can ask the second customer if she can wait. But if the second customer would be so persistent, you can ask permission from the first customer if she is not in a hurry and that you would entertain the second customer first.

3 0

3 years ago