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Accounting | Accounting homework help

Flaming Lip Corporation has 25,000 shares outstanding of 12% $15 par value, cumulative preferred stock. In 2009 and 2010, no dividends were declared on preferred stock. In 2011, Flaming Lip had a profitable year and decided to pay dividends to stockholders of both preferred and common stock.

If Flaming Lip has $200,000 available for dividends in 2011, how much could it pay to the preferred and common stockholders?

 

Niles Company granted 114 million of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. The common shares have a market price of $23 per share on January 1, 2015, the grant date of the restricted stock award.

When calculating diluted EPS at December 31, 2016, what will be the net increase in the denominator of the EPS fraction if the market price of the common shares averaged $23 per share during 2016?

 

On December 31, 2012, Tulley Company had 330,000 shares of common stock issued and outstanding. Tulley issued a 6% stock dividend on June 30, 2013. On September 30, 2013, 38,000 shares of common stock were reacquired as treasury stock.

What is the appropriate number of shares to be used in the basic earnings per share computation for 2013?

a. 340,300.

b. 390,080.

c. 349,800.

d. 359,300.

 

All Mine Corporation has 90,000 shares of $25 par value stock outstanding that have a current market value of $60. If the corporation issues a 4-for-1 stock split, the number of shares outstanding will be:

a. 72,000

b. 12,000

c. 360,000

d. 36,000

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