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Steps to calculating p/s sweeteners problem: if non- participating/ noncumulative: only calculate dividend AMT for preferred
(#SHRS*PV)*dividend rate. If non-participating, cumulative: add current + arrears. Cumulative-Participating: add current + arrears, calculate C/S portion by taking P/S rate* C/S equity, then remainder is allocated proportionately to total equity. Repurchase of t/s: DR t/s, CR cash @ FMV (cost). Sale of t/s: DR cash, CR t/s & APIC (TS @FMV (cost) of repurchase), APIC the rest, DR APIC if sold below FMV. When BAL in APIC is used up, DR R/E. Retire T/S: DR C/S @ PV of c/s, DR APIC @ difference b/w purchase price of C/S and PV of C/S. CR T/S @ FMV (cost) of T/S. DR R/E the difference of (C/S+ APIC) – T/S.G. Remember to keep a T-account for t/s to know when to debit RE.
WE EPS: (1) 3 columns: dts, shr chngs, shares otsndg(balance), (2) 6 columns: dates, fract of yr, shrs outstanding, stck div, stck splt, we shrs otstng. (3) 3 columns: income info(a), wgted shrs(b), EPS (a/b).