Question Details

(Solved) How many shares of common stock are outstanding after the dividend? Prepare the stockholders’

How many shares of common stock are outstanding after the dividend? Prepare the stockholders’ equity section of Decorator Plus Imports’ balance sheet after the stock split. Were the account balances changed or unchanged after the stock split? Q21. Journalize these transactions. Explanations are not required. Show how Discount Center will report treasury stock on its December 31, 2012 balance sheet after completing the two transactions. In reporting the treasury stock, report only on the Treasury stock account. You may ignore all other accounts. Q23. JP Corporation’s agreement with its bank lender restricts JP’s dividend payments for the cost of treasury stock the company holds. How much is the maximum amount of dividends JP can declare? Why would a bank lender restrict a corporation’s dividend payments and trea- sury stock purchases? Q25. Record the transactions in the general journal. Explanations are not required. Prepare the stockholders’ equity section of Lennox Health Foods’ balance sheet at December 31, 2012. Record the transactions in the general journal. Q28. Prepare a retained earnings statement for the year ended December 31, 2012. Prepare the stockholders’ equity section of the balance sheet at December 31, 2012. Q30. Compute Blacksmith’s earnings per share for 2012. Start with income from con- tinuing operations. All income and loss amounts are net of income tax. Show two ways of reporting Blacksmith’s retained earnings restriction. Q32. Prepare a corrected combined statement of income and retained earnings for the fiscal year ended December 31, 2012. Prepare the income statement in single- step format. Is this a small or large stock dividend? Journalize the entries related to the dividend. Q35. Journalize the entry related to the transactions. Calculate the balance in the T-accounts affected by the transactions. What amount of cash dividends did you receive last year—before the stock dividend? What amount of cash dividends will you receive after the stock dividend? Q38. How does the stock dividend affect your proportionate ownership in Valley Mills Construction? Explain. Immediately after the stock dividend was distributed, the market value of Valley Mills stock decreased from $22 per share to $20 per share. Does this decrease represent a loss to you? Explain. Q40. Corporations sometimes purchase their own stock. When asked why they do so, T-Shirts Plus management responds that the stock is undervalued. What advantage would T-Shirts Plus gain by buying and selling its own undervalued stock? Q41. T-Shirts Plus earned a significant profit in the year ended December 31, 2012, because land that it held was purchased by the State of Nebraska for a new highway. The company pro- poses to treat the sale of land as operating revenue. Why do you think the company is proposing this plan? Is this disclosure appropriate? Q42. The treasurer of T-Shirts Plus wants to report a large loss as an extraordinary item because the company produced too much product and cannot sell it. (Under the rules of the lower of cost or market, this situation, in which the net realizable value of inventory is less than the book value, would trigger a write-down of inventory.) Why do you think the treasurer wants to report the loss as extraordinary? Would that be acceptable? Q43. Did Bobby’s Bagels managers behave ethically? Explain your answer. Who was helped and who was harmed by management’s action? What are the criteria for recording a sale of goods? Q46. Why do company managers feel pressure to meet or exceed EPS forecasts of outside analysts? Show how Amazon computed basic earnings per share of $2.08 for 2009. (Ignore diluted earnings per share of $2.04.) Q48. Prepare a T-account to show the beginning and ending balances and all activity in Retained earnings (Accumulated Deficit) for 2009. How much in cash dividends did Amazon pay out during 2009, if any? Explain your answer. Q50. How much treasury stock did Amazon have at December 31, 2009? Explain. After selecting five companies, examine their income statements to search for the follow- ing items: Income from continuing operations Discontinued operations Extraordinary gains and losses Net income or net loss Earnings per share data Q52. Study the companies’ balance sheets to see what classes of stock each company has issued. which item carries a larger balance—the Common stock account or Paid-in capital in excess of par (also labeled Additional paid-in capital). the percentage of each company’s total stockholders’ equity made up of retained earnings. whether the company has Treasury stock. If so, how many shares and how much is the cost? Q53. Examine each company’s statement of stockholders’ equity for evidence of cash dividends. stock dividends. (Some companies use the term stock split to refer to a large stock dividend.) treasury stock purchases and sales. Q54. As directed by your instructor, either write a report or present your findings to your class. You may not be able to understand everything you find, but neither can the Wall Street analysts! You will be amazed at how much you have learned.


Solution details:

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .

About this Question






Oct 15, 2019





We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.


Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.


Order Now