Small and colleagues’ (2007) research study on sex differe…
Questions
Smаll аnd cоlleаgues’ (2007) research study оn sex differences in salary negоtiation found that framing interviews explicitly as ______ may inhibit women from requesting a higher salary.
Anаlyzing, Identifying, аnd Explаining the Effects оf a Stоck Split On September 1, Weiss Cоmpany has 225,000 shares of $15 par value ($165 market value) common stock that are issued and outstanding. Its balance sheet on that date shows the following account balances relating to the common stock. Common stock $3,375,000 Paid-in capital in excess of par value 2,025,000 On September 2, Weiss splits its stock 3-for-2 and reduces the par value to $10 per share. a. How many shares of common stock are issued and outstanding immediately after the stock split? {#1} shares b. What is the dollar balance of the common stock account immediately after the stock split? ${#2}
Anаlyzing аnd Prepаring a Retained Earnings Recоnciliatiоn Use the fоllowing data to prepare the 2022 retained earnings reconciliation for Maffett Company. Total retained earnings, December 31, 2021 $555,000 Stock dividends declared and paid in 2022 45,000 Cash dividends declared and paid in 2022 56,000 Net income for 2022 150,000 Hint: Do not use negative signs with your answers. MAFFETT COMPANYStatement of Retained EarningsFor the Year Ended December 31, 2022 Retained earnings, December 31, 2021 ${#1} Add: {#2} {#3} {#4} Less: Cash dividends declared ${#5} {#6} {#7} {#8} Retained earnings, December 31, 2022 ${#9}
Anаlyzing аnd Cоmputing Dividends аnd Effect оf Optiоns ExercisesFollowing is the stockholders’ equity section of the Intuit Inc. balance sheet (dollars in millions, except par value; shares in thousands). Changes in the company’s outstanding shares are due to (1) treasury share purchases by the company and (2) issues of treasury shares for employee stock options. July 31, July 31, Stockholders' Equity ($ millions) 2020 2019 Preferred stock, $0.01 par value Authorized-1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - none $ - $ - Common stock, $0.01 par value Authorized-750,000 shares Outstanding-261,740 shares at July 31, 2020 and 260,180 shares at July 31, 2019 3 3 Additional paid-in capital 6,179 5,772 Treasury stock, at cost (11,929) (11,611) Accumulated other comprehensive income (loss) (32) (36) Retained earnings 10,885 9,621 Total stockholders' equity $5,106 $3,749 a. In the fiscal year ended July 31, 2020, Intuit reported net income of $1,826 million. How much did Intuit pay in dividends to its common shareholders? ${#1} million b. In the fiscal year ended July 31, 2020, Intuit repurchased 1,176 thousand of its common shares. How many shares were issued to employees under stock option plans? {#2} thousand shares c. Intuit’s issuance of shares for stock option plans decreased the Additional paid-in capital balance by $31 million. Was the (average) option exercise price greater or less than the (average) amount Intuit paid to acquire the treasury shares that were reissued? The (average) option exercise price was {#3} than the (average) amount intuit paid.
Anаlyzing аnd Identifying Finаncial Statement Effects оf Stоck Transactiоns (FSET) The stockholders’ equity of Sougiannis Company at December 31 of the prior year follows. Preferred stock (1) $750,000 Common stock (2) 900,000 Paid-in capital in excess of par value—preferred stock 36,000 Paid-in capital in excess of par value—common stock 540,000 Retained earnings 487,500 Total stockholders’ equity $2,713,500 (1) 7% preferred stock, $100 par value, 30,000 shares authorized; 7,500 shares issued and outstanding (2) Common stock, $15 par value, 150,000 shares authorized; 60,000 shares issued and outstanding The following transactions, among others, occurred during the current year. Jan. 12 Announced a 3-for-1 common stock split, reducing the par value of the common stock to $5 per share. The authorized shares were increased to 450,000 shares. Sept. 1 Acquired 15,000 shares of common stock for the treasury at $10 cash per share. Oct. 12 Sold 2,250 treasury shares acquired September 1 at $12 cash per share. Nov. 21 Issued 7,500 shares of common stock at $11 cash per share. Dec. 28 Sold 1,800 treasury shares acquired September 1 at $9 cash per share. a. Using the financial statement effects template, illustrate the effects of each transaction. ● Note: Use negative signs with your answers, when appropriate. ● Note: Select "N/A" as your answer if a part of the accounting equation is not affected. Balance Sheet Income Statement Cash Noncash Contributed Earned Contra Net Transaction Asset + Assets = Liabilities + Capital + Capital - Equity Revenue - Expenses = Income Jan. 12 Stock split {#1} {#2} {#3} {#4} {#5} {#6} Sep. 1 Acquired shares of common stock {#7} {#8} {#9} {#10} Oct. 12 Sold treasury shares {#11} {#12} {#13} {#14} {#15} {#16} {#17} {#18} Nov. 21 Issued shares of common stock {#19} {#20} {#21} {#22} Common stock {#23} {#24} {#25} Dec. 28 Sold treasury shares {#26} {#27} {#28} {#29} {#30} {#31} {#32} {#33} Total b. Indicate the impact of each transaction on the calculation of basic EPS. Transaction Effect on EPS Jan. 12 Stock split {#34} Sep. 1 Acquired shares of common stock {#35} Oct. 12 Sold treasury shares {#36} Nov. 21 Issued shares of common stock {#37} Dec. 28 Sold treasury shares {#38} c. Prepare the December 31 stockholders’ equity section of the balance sheet assuming that the company reports net income of $124,500. ● Note: Do not use negative signs with your answers. Stockholders’ Equity Paid in capital {#39} {#40} Additional paid-in capital {#41} {#42} {#43} {#44} {#45} Less: {#46} {#47} Capital stock disclosure: 7% preferred stock, ${#48} par value, {#49} shares authorized; {#50} shares issued and outstanding Common stock, ${#51} par value, {#52} shares authorized; {#53} shares issued, of which {#54} shares are in the treasury d. Compute return on common equity for the year. Ratio Numerator Denominator Result ROCE ${#55} ÷ ${#56} =
Anаlyzing аnd Distributing Cаsh Dividends tо Preferred and Cоmmоn StocksSkinner Company began business on June 30. At that time, it issued 28,000 shares of $50 par value, 6% cumulative preferred stock, and 100,000 shares of $10 par value common stock. Through the end of Year 3, there has been no change in the number of preferred and common shares outstanding. a. Assume that Skinner declared and paid cash dividends of $96,000 in Year 1, $0 in Year 2, and $560,000 in Year 3. Compute the total cash dividends and the dividends per share paid to each class of stock in Year 1, Year 2, and Year 3. Round per share amounts to two decimal places. Dividend Distribution Preferred Common Preferredper share Common per share Year 1 ${#1} ${#2} ${#3} ${#4} Year 2 {#5} {#6} {#7} {#8} Year 3{#9} {#10} {#11} {#12} b. Assume that Skinner declared and paid cash dividends of $0 in Year 1, $168,000 in Year 2, and $239,000 in Year 3. Compute the total cash dividends and the dividends per share paid to each class of stock in Year 1, Year 2, and Year 3. Round per share amounts to two decimal places. Dividend Distribution Preferred Common Preferredper share Commonper share Year 1${#13} ${#14} ${#15} ${#16} Year 2 {#17} {#18} {#19} {#20} Year 3 {#21} {#22} {#23} {#24}
Anаlyzing аnd Interpreting Equity Accоunts аnd Earnings per Share (FSET) The 2019 and 2020 statements оf stоckholders’ equity for Alphabet Inc. (the Company) are presented below along with portions on Notes 11 and 13 relating to stockholders’ equity and equity-based compensation. ALPHABET INC. Consolidated Statements of Stockholders’ Equity (In millions, except per share amounts, which are reflected in thousands) Class A and Class B Common Stock, Class C Accumulated Capital Stock Other Total and Paid-in Capital Comprehensive Retained Stockholders’ Shares Amount Income (Loss) Earnings Equity Balance as of December 31, 2018 695,556 $45,049 $(2,306) $134,885 $177,628 Cumulative effect of accounting change 0 0 (30) -4 -34 Common and capital stock issued 8,120 202 0 0 202 Stock-based compensation expense 0 10,890 0 0 10,890 Tax withholding related to vesting of restricted stock units and other 0 (4,455) 0 0 (4,455) Repurchases of capital stock (15,341) (1,294) 0 (17,102) (18,396) Sale of interest in consolidated entities 0 160 0 0 160 Net income 0 0 0 34,343 34,343 Other comprehensive income (loss) 0 0 1,104 0 1,104 Balance as of December 31, 2019 688,335 50,552 (1,232) 152,122 201,442 Common and capital stock issued 8,398 168 0 0 168 Stock-based compensation expense 0 13,123 0 0 13,123 Tax withholding related to vesting of restricted stock units and other 0 (5,969) 0 0 (5,969) Repurchases of capital stock (21,511) (2,159) 0 (28,990) (31,149) Sale of interest in consolidated entities 0 2,795 0 0 2,795 Net income 0 0 0 40,269 40,269 Other comprehensive income (loss) 0 0 1,865 0 1,865 Balance as of December 31, 2020 675,222 $58,510 $633 $163,401 $222,544 Note 11: Stockholders’ Equity Convertible Preferred Stock Our board of directors has authorized 100 million shares of convertible preferred stock, $0.001 par value, issuable in series. As of December 31, 2019 and 2020, no shares were issued or outstanding. Class A and Class B Common Stock and Class C Capital Stock Our board of directors has authorized three classes of stock, Class A and Class B common stock, and Class C capital stock. The rights of the holders of each class of our common and capital stock are identical, except with respect to voting. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to 10 votes per share. Class C capital stock has no voting rights, except as required by applicable law. Shares of Class B common stock may be converted at any time at the option of the stockholder and automatically convert upon sale or transfer to Class A common stock. Share Repurchases In July 2020, the Board of Directors of the Company authorized the company to repurchase up to an additional $28.0 billion of its Class C capital stock. The repurchases are being executed from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans. The repurchase program does not have an expiration date. During the years ended December 31, 2019 and 2020, we repurchased and subsequently retired 15.3 million and 21.5 million shares of the Company's Class C capital stock for an aggregate amount of $18.4 billion and $31.1 billion, respectively. Note 13: Compensation Plans Stock Plans Our stock plans include the Company's 2012 Stock Plan and Other Bet stock-based plans. Under our stock plans, RSUs and other types of awards may be granted. An RSU award is an agreement to issue shares of our publicly traded stock at the time the award vests. RSUs granted to participants under the the Company's 2012 Stock Plan generally vest over four years contingent upon employment or service with us on the vesting date. As of December 31, 2020, there were 38,777,813 shares of stock reserved for future issuance under our Company's 2012 Stock Plan. Stock-Based Compensation For the years ended December 31, 2018, 2019, and 2020, total stock-based compensation expense was $10.0 billion, $11.7 billion, and $13.4 billion, including amounts associated with awards we expect to settle in the Company's stock of $9.4 billion, $10.8 billion, and $12.8 billion, respectively. For the years ended December 31, 2018, 2019, and 2020, we recognized tax benefits on total stock-based compensation expense, which are reflected in the provision for income taxes in the Consolidated Statements of Income, of $1.5 billion, $1.8 billion, and $2.7 billion, respectively. For the years ended December 31, 2018, 2019, and 2020, tax benefit realized related to awards vested or exercised during the period was $2.1 billion, $2.2 billion, and $3.6 billion, respectively. These amounts do not include the indirect effects of stock-based awards, which primarily relate to the research and development tax credit. Stock-Based Award Activities The following table summarizes the activities for our unveste RSUs for the year ended December 31, 2020: Unvested Restricted Stock Units Number of Weighted-Average Shares Grant-Date Fair Value Unvested as of December 31, 2019 19,394,236 $1,055.22 Granted 12,647,562 1,407.97 Vested (11,643,670) 1,089.31 Forfeited/canceled (1,109,335) 1,160.01 Unvested as of December 31, 2020 19,288,793 $1,262.13 The weighted-average grant-date fair value of RSUs granted during the years ended December 31, 2018 and 2019 was $1,095.89 and $1,092.36, respectively. Total fair value of RSUs, as of their respective vesting dates, during the years ended December 31, 2018, 2019, and 2020 were $14.1 billion, $15.2 billion, and $17.8 billion, respectively. As of December 31, 2020, there was $22.8 billion of unrecognized compensation cost related to unvested employee RSUs. The amount is expected to be recognized over a weighted-average period of 2.6 years. Note 11. Net Income Per Share (in part) We compute net income per share of Class A and Class B common stock and Class C capital stock using the two-class method. Basic net income per share is computed using the weightedaverage number of shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities consist of restricted stock units and other contingently issuable shares. The dilutive effect of outstanding restricted stock units and other contingently issuable shares is reflected in diluted earnings per share by application of the treasury stock method. The computation of the diluted net income per share of Class A common stock assumes the conversion of Class B common stock, while the diluted net income per share of Class B common stock does not assume the conversion of those shares. REQUIRED a. What is the difference between the Company's Class A common stock and its Class B common stock? Why do they have two different classes of common stock? In fiscal year 2014, the Company created shares of Class C capital stock, which participate in any common dividends but have no voting rights. What might be the purpose of the Class C stock? Class A and B common shares are identical except for voting rights. Class A shares have {#1} vote per share while class B shares have {#2} votes per share. This means that class B shareholders have {#3} control in the governance of the corporation. Presumably, class B shares were {#4} by the original management team of the firm while the class A shares were {#5}. Class C capital shares have {#6}, and they {#7} in any dividends declared for common shares. Class C shares allow the Company's executives to continue using shares to make acquisitions and motivate employees, while ensuring that the Class B shares retain {#8} than 50% of the voting power. b. The Company repurchased some of their Class C shares in 2020. Prepare the journal entry to show the repurchase transaction using the financial statement effects template. c. Using the information in the notes, estimate the stock-based compensation expense for 2021 related to the 2020 grants of restricted stock units. Show the entry using the financial statement effects template. ● Note: Use negative signs with your answers, when appropriate. ● Note: Select "N/A" as your answer if a part of the accounting equation is not affected. ● Note: Round answers to the nearest hundred million. Balance Sheet Income Statement Cash Noncash Contributed Earned Net Transaction Asset + Assets = Liabilities + Capital + Capital Revenue - Expenses = Income b. Repurchase transaction {#9} {#10} {#11} {#12} {#13} {#14} {#15} {#16} {#17} c. Stock based compensation {#18} {#19} {#20} {#21} {#22} {#23} {#24} d. The Company states that there is $22.8 billion of unrecognized compensation cost related to unvested employee RSUs. What are these, and why isn’t this a liability on the balance sheet for the Company? This cost is related to RSUs that are {#25} and {#26} as compensation cost yet. The {#27} compensation cost related to unvested employee RSUs {#28} a liability because the Company {#29} incurred the cost — the employees {#30} worked. In addition, the amount is recorded as an increase to {#31} when the compensation expense is recorded because the company is issuing {#32} to the employees. e. The Company reported net income of $40,269 million in 2020 and basic EPS of $59.15 per share. Estimate the weighted average number of shares used to calculate basic EPS. ● Note: Round answers to the nearest million. {#33} million shares f. Assume the Company has 15.0 million stock options outstanding at the end of 2020. If all outstanding stock options were exercised in 2020, what would be the impact on the Company’s basic EPS? If all outstanding stock options were exercised, basic EPS would {#34}. g. The Company reported diluted EPS of $58.61 in 2020. What are the primary dilutive securities that the Company mentions? The diluted EPS figure includes an adjustment only for outstanding options that are not “under water,” i.e., are anti-dilutive. This would cause the diluted EPS to be {#35} than the amount calculated in part f. The difference is due to the fact that Google has stock-based compensation besides stock options, like restricted stock units.
Anаlyzing аnd Identifying Finаncial Statement Effects оf Stоck Transactiоns The stockholders’ equity section of Gupta Company at December 31, 2021, follows. 8% preferred stock, $25 par value, 50,000 shares authorized; Shares issued and outstanding (1) $255,000 Common stock, $10 par value, 200,000 shares authorized; Shares issued and outstanding (2) 750,000 Paid-in capital in excess of par value—preferred stock 102,000 Paid-in capital in excess of par value—common stock 300,000 Retained earnings 405,000 (1) 10,200 shares at $25 par value. (2) 75,000 shares at $10 par value. During 2022, the following transactions occurred: Jan. 10 Issued 42,000 shares of common stock for $17 cash per share. Jan. 23 Purchased 12,000 shares of common stock for the treasury at $19 cash per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for $21 cash per share. Jul. 15 Issued 4,800 shares of preferred stock for 192,000 cash. Nov. 15 Sold 1,500 of the treasury shares acquired January 23 for $24 cash per share. a. Prepare the journal entries for these transactions. Date Account Debit Credit Jan. 10 {#1} {#2} {#3} Jan. 23 {#4} {#5} Mar. 14 {#6} {#7} {#8} Jul. 15 {#9} {#10} {#11} Nov. 15 {#12} {#13} {#14} b. Post the journal entries to the related T-accounts Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account. Cash {#15} {#16} {#17} {#18} {#19} {#20} {#21} Additional paid-in capital {#22} {#23} {#24} {#25} {#26} {#27} {#28} Common stock {#29} {#30} {#31} Preferred stock {#32} {#33} {#34} Treasury stock {#35} {#36} {#37} {#38} {#39}
Anаlyzing аnd Identifying Finаncial Statement Effects оf Dividends (FSET) The stоckhоlders’ equity of Kinney Company at December 31, 2021, is shown below: 5% preferred stock, $100 par value, 10,000 shares authorized; Shares issued and outstanding (1) $350,000 Common stock, $5 par value, 200,000 shares authorized; Shares issued and outstanding (2) 225,000 Paid-in capital in excess of par value—preferred stock 36,000 Paid-in capital in excess of par value—common stock 270,000 Retained earnings 590,400 Total stockholders’ equity $1,471,400 (1) 3,500 shares at $100 par value. (2) 45,000 shares at $5 par value. The following transactions, among others, occurred during 2022. Apr. 1 Declared and issued a 100% stock dividend on all outstanding shares of common stock. The market value of the stock was $11 per share. Dec. 7 Declared and issued a 3% stock dividend on all outstanding shares of common stock. The market value of the stock was $14 per share. Dec. 20 Declared and paid (1) the annual cash dividend on the preferred stock and (2) a cash dividend of 80 cents per common share. Using the financial statement effects template, illustrate the effects of these transactions. NOTE: Use negative signs with your answers, when appropriate. NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected. Balance Sheet Income Statement Cash Noncash Contributed Earned Net Transaction Asset + Assets = Liabilities + Capital + Capital Revenue - Expenses = Income Declared and issued a 100% stock dividend. {#1} {#2} {#3} {#4} {#5} {#6} Common stock {#7} {#8} {#9} {#10} Declared and issued a 3% stock dividend. {#11} {#12} {#13} {#14} {#15} {#16} Common stock {#17} {#18} {#19} {#20} Declared and paid cash dividend. {#21} {#22} {#23} {#24} {#25} {#26} {#27} {#28} {#29}
Anаlyzing аnd Identifying Finаncial Statement Effects оf Stоck Transactiоns The stockholders’ equity of Sougiannis Company at December 31 of the prior year follows. Preferred stock (1) $750,000 Common stock (2) 900,000 Paid-in capital in excess of par value—preferred stock 36,000 Paid-in capital in excess of par value—common stock 540,000 Retained earnings 487,500 Total stockholders’ equity $2,713,500 (1) 7% preferred stock, $100 par value, 30,000 shares authorized; 7,500 shares issued and outstanding (2) Common stock, $15 par value, 150,000 shares authorized; 60,000 shares issued and outstanding The following transactions, among others, occurred during the current year. Jan. 12 Announced a 3-for-1 common stock split, reducing the par value of the common stock to $5 per share. The authorized shares were increased to 450,000 shares. Sept. 1 Acquired 15,000 shares of common stock for the treasury at $10 cash per share. Oct. 12 Sold 2,250 treasury shares acquired September 1 at $12 cash per share. Nov. 21 Issued 7,500 shares of common stock at $11 cash per share. Dec. 28 Sold 1,800 treasury shares acquired September 1 at $9 cash per share. a. Prepare the journal entries for these transactions. ● Note: If a journal entry isn't required on any of the dates shown, select "N/A—debit" and "N/A—credit" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Debit Credit Jan. 12 {#1} {#2} Sep. 1 {#3} {#4} Oct. 12 {#5} {#6} {#7} Nov. 21 {#8} {#9} {#10} Dec. 28 {#11} {#12} {#13} b. Post the journal entries to the related T-accounts. ●Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account. Cash {#14} {#15} {#16} {#17} {#18} {#19} Common stock {#20} {#21} Additional paid-in capital {#22} {#23} {#24} {#25} {#26} {#27} Treasury stock {#28} {#29} {#30} {#31} {#32} {#33}
Identifying аnd Anаlyzing Finаncial Statement Effects оf Stоck Transactiоns The stockholders’ equity of Verrecchia Company at December 31 of the prior year follows. Common stock (1) $600,000 Paid-in capital in excess of par value 480,000 Retained earnings 276,800 (1) Common stock, $5 par value, 280,000 shares authorized; 120,000 shares issued and outstanding During the current year, the following transactions occurred. Jan. 5 Issued 8,000 shares of common stock for $12 cash per share. Jan. 18 Purchased 3,200 shares of common stock for the treasury at $14 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $17 cash per share. Jul 17 Sold 400 shares of the remaining treasury stock for $13 cash per share. Oct. 1 Issued 4,000 shares of 8%, $25 par value preferred stock for $35 cash per share. This is the first issuance of preferred shares from 40,000 authorized shares. a. Prepare the journal entries for these transactions. ● Note: If a journal entry isn't required on any of the dates shown, select "N/A—debit" and "N/A—credit" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Debit Credit Jan. 5 {#1} {#2} {#3} Jan. 18 {#4} {#5} Mar. 12 {#6} {#7} {#8} Jul. 17 {#9} {#10} {#11} Oct. 1 {#12} {#13} {#14} b. Post the journal entries to the related T-accounts. ●Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account. Cash {#15} {#16} {#17} {#18} {#19} {#20} {#21} {#22} Common stock {#23} {#24} Preferred stock {#25} {#26} Additional paid-in capital {#27} {#28} {#29} {#30} {#31} {#32} Retained Earnings {#33} {#34} Treasury stock {#35} {#36} {#37} {#38} {#39} {#40}
Identifying аnd Anаlyzing Finаncial Statement Effects оf Stоck Transactiоns Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 12,000 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 18,000 shares of $100 par value, 8% preferred stock at $250 cash per share. Jun. 30 Purchased 2,400 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,200 shares of the treasury stock at $21 cash per share. a. Prepare the journal entries for these transactions. b. Post the journal entries to the related T-accounts. Prepare Journal Entries Post to T-Accounts a. Prepare the journal entries for these transactions. Date Account Debit Credit Feb. 20 {#1} {#2} {#3} Feb. 21 {#4} {#5} {#6} Jun. 30 {#7} {#8} Sep. 25 {#9} {#10} {#11} b. Post the journal entries to the related T-accounts. NOTE: Enter your answers, in transaction order, in the first open field of the appropriate column in each account. CASH {#12} {#13} {#14} {#15} {#16} {#17} ADDITIONAL PAID-IN CAPITAL {#18} {#19} {#20} {#21} {#22} COMMON STOCK {#23} {#24} {#25} PREFERRED STOCK {#26} {#27} {#28} TREASURY STOCK {#29} {#30} {#31} {#32}