Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the alford group had 200,000 shares of common stoc

The Alford Group had 200,000 shares of common stock outstanding at January 1, 2021. The...

60.1K

Verified Solution

Question

Accounting

The Alford Group had 200,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding.

2021
Feb. 28 Purchased 18,000 shares of treasury stock.
Oct. 31 Sold the treasury shares purchased on February 28.
Nov. 30 Issued 72,000 new shares.
Dec. 31 Net income for 2021 is $1,649,000.
2022
Jan. 15 Declared and issued a 2-for-1 stock split.
Dec. 31 Net income for 2022 is $1,649,000.

Required:

1. Determine the 2021 EPS. (Do not round intermediate calculations.) 2. Determine the 2022 EPS. 3. At what amount will the 2021 EPS be presented in the 2022 comparative financial statements? (For all requirements, Enter your answers in thousands.)

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Social psychology is best defined as the scientific study of Select one: a. sociology b. social influence c. social...

Accounting
1.2K views

Solomon Company is a retail company that specializes in selling outdoor camping equipment. The company is...

Physics
1.2K views

A B E HOM D In the given figure if Q and Q are positive...

Physics
1.2K views

Velocity v of a particle depends upon the time t according to the equation v...

Accounting
1.2K views

Bonita Manufacturing produces basketballs used for indoor and outdoor games. The company has...

Accounting
1.2K views

Objective Question: How do accounting procedures contribute to enhancing performance management systems in...

Accounting
1.2K views

Omega Enterprises budgeted the following sales in units: January 45,000 February 34,000 March 29,000 Omega's...

Accounting
1.2K views

please solve all parts properly Problem 7-20 Activity-Based...

Accounting
1.2K views

deprocininis ived. renc1 31. trick: rews Taier 3 Aprit-30 Depreciation Apra 30 sale December 31...

Accounting
1.2K views

1. Prepare a flexible budget based on the actual number of recliners sold....

Accounting
1.2K views

Please answer briefly ASAP, I have 25 minutes. Q1: There are four different...

Finance
1.2K views

Great Lakes Health Care just paid a $3.18 annual dividend. In addition Great Lakes plans...