Solve both questions otherwise leave it... please explanationDo not give answer in image 12. Hamilton, Inc obtained 100% of Tommy Company's common stock on January,2015, by issuing 20,000 shares of $4 par value common stock. Hamilton shares had a$25 per share fair value. On that date, Tommy reported a net book value of $400,000.However, its plan asset (with a 4 year useful life) was undervalued by $100,000.The following figures came from the accounting records of these two companies as12/31/15.Tommy700,0001,000,000600,000450,000200,000100,000What does Hamilton's investment in Tommy account show on December 31, 2015 whenthe Equity method is applied?A) $500,000B) $650,000C) $625,000D) $750,000HamiltonRevenuesExpensesDividends paid13. For purposes of testing goodwill impairment, the appropriate level of testing is at the:A) Consolidated entity levelB) Operating unit levelC) Subsidiary company levelD) Reporting unit level

Under the equity method, the investment account begins with the initial cost and is then adjusted…

Dividends paid 200,000 100,000 What does Hamilton's investment in Tommy account show on December 31, 2015 when the Equity method is applied? A) $500,000 B) $650,000 C) $625,000 D) $750,000 13. For purposes of testing goodwill impairment, the appropriate level of testing is at the: A) Consolidated entity level B) Operating unit level C) Subsidiary company level D) Reporting unit level

Dividends paid 200,000 100,000 What does Hamilton's investment in Tommy account show on December 31, 2015 when the Equity method is applied? A) $500,000 B) $650,000 C) $625,000 D) $750,000 13. For purposes of testing goodwill impairment, the appropriate level of testing is at the: A) Consolidated entity level B) Operating unit level C) Subsidiary company level D) Reporting unit level

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter13: Earnings Per Share (eps)

Section: Chapter Questions

Problem 2R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...

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Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8% preferred stock outstanding on January 1, 2011. Each share of preferred stock is convertible into four shares of common stock. The stock has not been converted. During the year, Ponce Towers issued additional shares of common stock as follows: For 2011, Ponce Towers, Inc., had income from continuing operations of 545,000 and a 72,000 loss from discontinued operations (net of tax). Open the file EPS from the website for this book at cengagebrain.com. Enter all input items (AF) in the appropriate cells in the Data Section. Enter all formulas in the appropriate cells in the Answer Section. Enter your name in cell A1. Save the completed file as EPS2. Print the worksheet when done. Also print your formulas. Check figure: Basic earnings per share from continuing operations (cell D29), 5.94.
Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8% preferred stock outstanding on January 1, 2011. Each share of preferred stock is convertible into four shares of common stock. The stock has not been converted. During the year, Ponce Towers issued additional shares of common stock as follows: For 2011, Ponce Towers, Inc., had income from continuing operations of 545,000 and a 72,000 loss from discontinued operations (net of tax). As vice president of finance for the firm, you have been asked to calculate earnings per share for 2011. The worksheet EPS has been provided to assist you.
. Min Hyun Jing Ltd. purchased 21,600 common shares of Glastone Ltd. on January 1, 2018, when the market price was $27.50 per share. This gave Min Hyun Jing 12% of the shares issued by Glastone Ltd. Min Hyun Jing Ltd. has a December 31 year end. For the year ended December 31, 2018, Glastone reported net income of $260,000 and declared dividends of $1.10 per share on December 31. The trading price of Glastone’s shares on that date was $31.20. For the year ended December 31, 2019. Glastone reported net income of $280,000 and declared dividends of $1.15 per share on December 31. The trading price of Glastone’s shares on December 31 was 34.60. Min Hyun Jing Ltd. purchased an additional 20,000 common shares on this date. For the year ended December 31, 2020, Glastone reported a net loss of $80,000, but still declared dividends on December 31, in the amount of $0.75 per share. The trading price of Glastone’s shares on December 31, 2019 was $30.50 per share. For the year ended…
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