1. 2. Mayan Company had net income of $32,370. The weighted-average common share
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Question
1.
2. Mayan Company had net income of $32,370. The weighted-average common shares outstanding were 8,300. The company declared a $3,000 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:
$4.01.
$3.29.
$3.90.
$3.54.
$4.26.
3. Martinez Corporation reported Net sales of $780,000 and Net income of $127,000. The Profit margin is:
6.14%.
614.0%.
83.72%.
1.63%.
16.28%.
4.
The following data were reported by a corporation:
The number of outstanding shares is:
12,500.
16,000.
17,500.
24,500.
21,000.
5.
A company issued 190 shares of $100 par value common stock for $22,600 cash. The total amount of paid-in capital in excess of par is:
$22,600.
$1,900.
$19,000.
$3,600.
$100.
Zhang Company reported Cost of goods sold of $843,000, beginning Inventory of $38,800 and ending Inventory of $47,100. The average Inventory amount is:
$8,300.
$38,800.
$42,950.
$47,100.
$85,900.
On September 1, Ziegler Corporation had 70,000 shares of $5 par value common stock, and $210,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is:
No entry is made for this transaction.
Debit Retained Earnings $1,050,000; credit Common Stock $1,050,000.
Debit Retained Earnings $350,000; credit Stock Split Payable $350,000.
Debit Retained Earnings $1,050,000; credit Common Stock Split Distributable $1,050,000.
Debit Retained Earnings $350,000; credit Common Stock $350,000.
Use the following information to calculate cash received from dividends:Explanation / Answer
Answer to 1 Dividend received in Cash $ Dividend revenue 30,800 Less:- Dividend receivable, 31 December 3,800 27,000 Add:- Dividend receivable, 1 January 2,800 Dividend received in Cash 29,800 Answer to 2 EPS is $ 3.54. working given below EPS = Net income available for common shareholder/Weighted average common shares outstanding = (32370-3000)/8300 = $ 3.54 per share Answer to 3 Profit margin is 16.28%., Working Given below :- Profit margin = Net profit/Net sales X100 = 127000/780000 X100 = 16.28% Answer to 4 No of Shares outstanding = 12500, working given below No of shares outstanding = Issued common shares- treasury shared = 16000-3500= 12500
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