L01 Solution

L01 Solution - 320 Accounting Lecture 1 Fridays Summer 2008...

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Click to edit Master subtitle style 1Slide 1 320 Accounting Lecture 1 Fridays Summer 2008 File has 5 slides Exercises Slides 36, Course Introduction Ch 1 & 2: Accounting Information: standards, objectives Solution slides re L1 © Alain Duncan 2008 SFU Business Faculty Semester 2008-2 v1 May 8, 2008 ^
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2 Class doing Dee company Slide 36 of L1 In 1998, company Dee issued 20,000 common, and 10,000 pref A, par value $100, 8% non- cumulatives, and 40,000 pref B, par value $50, 10% cumulatives. On Sept 30, 2007, Dee issued another 16,000 common Net income for year 2007 was $283,000 During 2007 Dee paid a $3 dividend to the pref A. The B’s and common got nothing. The Determine EPS for 2007 Pause: we do it now Ready? I walk around to see how much time students need: Numerator: 283K - $3x10K - $5x40K = 283K -30K-200K = $ 53,000 Denominator: 20K x 12/12 + 16Kx3/12 = 20K + 4K = 24,000 shares
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L01 Solution - 320 Accounting Lecture 1 Fridays Summer 2008...

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