Accounting questions
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p19-1
Apple Inc.
Steve Jobs' restricted stock
tax effects
p19-6
Ainsworth Inc. EPS, net loss, stock dividend, preferred stock, treasury stock, extraordinary loss
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Solution Summary
The solution explains two accounting questions P19-6 Ainsworth Inc - calculation of net loss per share, EPS presentation and P19-1 Apple Inc - Steve Jobs restricted stock, tax effectos
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P19-6
1. We first calculate the weighted average shares outstanding (figures in million)
Beginning shares = 600. Since there is a stock dividend of 5% on June 12, the beginning shares will be adjusted and will be 600 X 1.05 = 630. These shares are outstanding till April 30 = 4 months.
On April 30, 30 shares are repurchased, adjusting for stock dividend = 30X1.05 = 31.5. Outstanding shares = 630-31.5 = 598.5. These are outstanding till Aug 30 = 4 months
On Aug 30, 12 shares are resold, so outstanding shares = 598.5 + 12 = 610.5. These are outstanding till year end = 4 months
Weighted average ...
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