Intermediate accounting solution of c19Word文件下载.docx

Intermediate accounting solution of c19Word文件下载.docx

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x12millionsharesgranted

=$30millionfairvalueofaward

noentry

Requirement3

（$inmillions）

Compensationexpense（$30million÷

3years）10

Paid-incapital–restrictedstock10

Requirement4

Requirement5

Requirement6

Paid-incapital–restrictedstock30

Commonstock（12millionsharesx$1par）12

Paid-incapital–excessofpar（remainder）18

Exercise19-3

Requirement1

$3,000,000111,540shares=$26.90

Requirement2

The$3,000,000totalcompensationisexpensedoverthethree-yearvestingperiod,$1,000,000eachyear.Duringthefirstyear,theexpenseistheappropriateportionof$1,000,000,dependingonthedatetheshareswereissued.Forinstance,iftheshareswereissuedthreemonthsbeforetheendoftheyear,theexpensewouldbe3/12x$1,000,000=$250,000.Theexpenseisthefull$1,000,000intheyearfollowingtheyearinwhichthestockwasissued.

Exercise19-4

$22.50fairvaluepershare

x4millionsharesgranted

=$90millionfairvalueofaward

Compensationexpense（$90million÷

3years）30

Paid-incapital–restrictedstock30

x90%100%–10%forfeiturerate

=$81millionfairvalueofaward

Exercise19-5

$3fairvalueperoption

x4millionoptionsgranted

=$12milliontotalcompensation

Compensationexpense（$12million÷

2years）6

Paid-incapital–stockoptions6

Exercise19-6

AtJanuary1,2011,theestimatedvalueoftheawardis:

$3estimatedfairvalueperoption

x25millionoptionsgranted

=$75milliontotalcompensation

（$inmillions）

Compensationexpense（$75million÷

3years）25.0

Paid-incapital–stockoptions25.0

Adams-Menekeshouldadjustthecumulativeamountofcompensationexpenserecordedtodateintheyeartheestimatechanges.

2012

Compensationexpense（[$75x94%x2/3]–$25）22

Paid-incapital–stockoptions22

2013

Compensationexpense（[$75x94%x3/3]–$25–$22）23.5

Paid-incapital–stockoptions23.5

Notethatthisapproachiscontrarytotheusualwaycompaniesaccountforchangesinestimates.Forinstance,assumeacompanyacquiresa3-yeardepreciableassethavingnoestimatedresidualvalue.The$75milliondepreciablecostwouldbedepreciatedstraight-lineat$25millionoverthethree-yearusefullife.Iftheestimatedresidualvaluechangesafteroneyearto6%ofcost,thenewestimateddepreciablecostof$70.5wouldbereducedbythe$25milliondepreciationrecordedthefirstyear,andtheremaining$45.5millionwouldbedepreciatedequally,$22.75millionperyear,overtheremainingtwoyears.

Exercise19-7

$1estimatedfairvalueperoption

x40millionoptionsgranted

=$40millionfairvalueofaward

Compensationexpense（$40million÷

2years）20

Paid-incapital–stockoptions20

Cash（$8exercisepricex30millionshares）240

Paid-incapital-stockoptions

（3/4accountbalanceof$40million）30

Commonstock（30millionsharesat$1parpershare）30

Paid-incapital–excessofpar（remainder）240

Note:

Themarketpriceatexerciseisirrelevant.

Paid-incapital–stockoptions（$40-30million）10

Paid-incapital–expirationofstockoptions10

Exercise19-8

AtJanuary1,2011,thetotalcompensationismeasuredas:

$3fairvalueperoption

x12millionoptionsgranted

=$36millionfairvalueofaward

December31,2011,2012,2013

Compensationexpense（$36million÷

3years）12

Paid-incapital–stockoptions12

Cash（$11exercisepricex12millionshares）132

Paid-incapital-stockoptions（$12millionx3years）36

Commonstock（12millionsharesat$1parpershare）12

Paid-incapital–excessofpar（tobalance）156

Exercise19-9

Cash（$12x50,000x85%）510,000

Compensationexpense（$12x50,000x15%）90,000

Commonstock（$1x50,000）50,000

Paid-incapital-inexcessofpar（$11x50,000）550,000

Exercise19-10

（amountsinthousands,exceptpershareamount）

netEarnings

incomePerShare

$655$655

————————————————————————=——=$.64

900（1.05）+60（8/12）（1.05）+72（7/12）1,029

sharesnewnew

atJan.1sharesshares

___stockdividend___

adjustment

Exercise19-11

1.EPSin2011

（amountsinthousands,exceptpershareamount）

netEarnings

incomePerShare

$400$400

——————————————————————————––––=$2.00

202-6（10/12）+6（2/12）+24（1/12）200

sharestreasurytreasurysharesnew

atJan.1sharessoldshares

2.EPSin2012

——————————————————————————––––=$.88

（202-6+6+24）x（2.00）452

sharesstockdividend

atJan.1adjustment

3.2011EPSinthe2012comparativefinancialstatements

——————————————————————————––––=$1.00

200x（2.00）400

weighted-averagesharesstockdividend

aspreviouslycalculatedadjustment

Exercise19-12

netpreferredEarnings

incomedividendsPerShare

$2,000–$50$1,950

—————————————————=————=$1.95

800（1.25）1,000

sharesstockdividend

atJan.1adjustment

Exercise19-13

netpreferredNetLoss

lossdividendsPerShare

–$114–$761–$190

——————————————————————=——=（$.50）

373+12（7/12）380

sharesnew

atJan.1shares

19.5%x$800*=$76

*8,000sharesx$100par=$800,000

Exercise19-14

（amountsinmillions,exceptpershareamount）

netpreferredEarnings

incomedividendsPerShare

$150–$271$123

——————————————————————=———=$.65

200（1.05）–24（10/12）（1.05）+4（3/12）190

sharestreasurynew

19%x$300=$27

Exercise19-15

BasicEPS

netpreferred

incomedividends

$150–$27$123

——————————————————————————=——=$.65

200（1.05）–24（10/12）（1.05）+4（3/12）190

sharestreasurynew

atJan.1sharesshares

___stockdividend___

adjustment

DilutedEPS

netpreferred

$150–$27$123

——————————————————————————=——=$.63

200（1.05）–24（10/12）（1.05）+4（3/12）+（30–24*）196

sharestreasurynewassumedexercise

atJan.1sharessharesofoptions

*Purchaseoftreasurystock

30millionshares

x$56（exerciseprice）

$1,680million

÷

$70（averagemarketprice）

24millionshares

Exercise19-16

$150–$27$123

——————————————————————————=——=$.62

200（1.05）–24（10/12）（1.05）+4（3/12）+30（4/12）200

sharestreasurynewactualexercise

————————————————————————————=——=$.60

200（1.05）–24（10/12）（1.05）+4（3/12）+（30–24*）（8/12）+30（4/12）204

sharestreasurynewassumedexerciseactualexercise

atJan.1sharessharesofoptionsofoptions

24millionshares

Exercise19-17

$150–$27*$123

————————————————————————————=—=$.65

200（1.05）–24（10/12）（1.05）+4（3/12）190

*9%x$100x3millionshares=$27millionpreferreddividends

netpreferredafter-t