Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 19-13(algo) eps; treasury stock; new shar

Exercise 19-13(Algo) EPS; treasury stock; new shares; stock dividends; two years, financial statement effects [LO19-5,19-6]...

60.1K

Verified Solution

Question

Accounting

Exercise 19-13(Algo) EPS; treasury stock; new shares; stock dividends; two years, financial statement effects [LO19-5,19-6]
The Li Group had 150,000 shares of common stock outstanding at January 1,2024. The following activities affected common shares during the year. There are no potential common shares outstanding.
2024
February 28 Purchased 3,000 shares of treasury stock.
October 31 Sold the treasury shares purchased on February 28.
November 30 Issued 12,000 new shares.
December 31 Net income for 2024 is $1,639,000.
2025
January 15 Declared and issued a 2-for-1 stock split.
December 31 Net income for 2025 is $1,639,000.
Required:
Determine the 2024 EPS.
Determine the 2025 EPS.
At what amount will the 2024 EPS be presented in the 2025 comparative financial statements?
Note: Do not round intermediate calculations. Enter your answers in thousands (i.e.,10,000 should be entered as 10).
\table[[Numerator,,Denominator,=,Earnings per Share],[1.?,$,1,639,,x,=,],[2.,$,1,639,,324,=,5.06],[3.,$,1,639,,,=,0]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

View Pen and laser pointer tools O Zoom into the slide

Biology
Q

You have been assigned to examine the financial statements of Indigo Company for the year ended...

Accounting
Q

What is the route of infection for Candidiasis?By contact with secretions of mouth and skin,...

Biology
Q

"This week we had another sign of America's strength, its economic strength, which undergirds all...

Biology
Q

An inductor is to be connected to the terminals of a generator rms voltage 11...

Physics
Q

The time it takes me to wash the dishes on a randomly selected night is...

Statistics
Q

of Rudy Meangru Show that the functions f x x 3 and g x x...

Algebra
Q

Using the data for Brady and Co. provided in the sheet...

Accounting
Q

A company purchases merchandise inventory for $145,300 on credit terms of 3/10 net 30. The...

Accounting
Q

83,050 85,000 85,250 85,500 What amount will Chris and...

Accounting
Q

El Laser Arena alquila sus instalaciones para juegos de laser tag. Los datos son los...

Accounting
Q

Closing Entries: Complete the Closing Entries tab of the company accounting workbook by closing all...

Accounting