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Anаlyzing аnd Interpreting Equity Accоunts The 2019 аnd 2020 statements оf stоckholders’ equity for Alphabet Inc. 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 Alphabet 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 Alphabet 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 Alphabet 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 Alphabet 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 Alphabet 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 Alphabet 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 unvested Alphabet 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. The Company repurchased some of their Class C shares in 2020. Prepare the journal entry to show the repurchase transaction. b. Using the information in the notes, estimate the stock-based compensation expense for 2021 related to the 2020 grants of restricted stock units. Prepare the journal entry. ● Note: Round answers to the nearest hundred million. Account Debit Credit a. {#1} {#2} {#3} b. {#4} {#5}
Anаlyzing аnd Identifying Finаncial Statement Effects оf Dividends 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. a. Prepare the journal entries for these transactions. Date Account Debit Credit Apr. 1 {#1} {#2} Dec. 7 {#3} {#4} {#5} Dec. 20 {#6} {#7} b. Post the journal entries to the related T-accounts. Cash {#8} {#9} {#10} {#11} Additional paid-in capital {#12} {#13} {#14} {#15} Common stock {#16} {#17} {#18} {#19} {#20} Retained earnings {#21} {#22} {#23} {#24} {#25} c. Prepare a 2022 retained earnings reconciliation assuming that the company reports 2022 net income of $227,700. Note: Use negative signs with your answers, when appropriate. Kinney Company Statement of Retained Earnings For the Year Ended Dec. 31 {#26} {#27} {#28} {#29} {#30}