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Diluted EPS Problem Net income for the Zipper Company in 2013 was $1,400,000. Zipper issued in 2012, at par, 75, $1,000, 8% bonds, each convertible into 100 shares of common stock. Zipper issued in 2011, 40,000 shares of 6% convertible, cumulative preferred stock, $100 par value. Each share is convertible into 1 share of common stock. Zipper had outstanding 1,000 options issued during 2012, each exercisable for one share at $8. None has been exercised. The average market price of the stock during 2013 was $20. Zipper's tax rate is 40%. Date Event Shares outstanding Jan 1, 2013 Beginning balance 180,000 March 1 Issued 60,000 shares June 1 Purchased 78,000 treasury stock Nov 1 Issued 120,000 shares Nov 15 Issued 2 for 1 stock split Required: Calculate Basic and Dilutive Earnings per Share (show all calculations) Use the treasury stock method for the options (if necessary).
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at December 31, Year 2 would be reduced by:
Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2010. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations.
She receives real estate with a fair market value of $72,000 and Todd assumes the mortgage. What is her recognized gain and adjusted basis for the real estate received?
Better Food Company recently acquired an olive oil processing company that has an annual capacity of 2,000,000 liters and that processed and sold 1,400,000 liters last year at a market price of $4 per liter.
Link's income statement for the year ended December 31, 2011, should show the cumulative effect of this error in the amount of:
Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75000 of salary, $3000 long term capital gain and $1500 interst income. Bob's expenses for the year consists of $800 investment advice fe..
Rojas Co. owned 7,000 shares (70%) of the outstanding 10%, $100 par preferred stock and 60% of the outstanding common stock of Brett Co. When Brett reported net income of $780,000, what was the noncontrolling interest in the subsidiary's income?
Use the appropriate information from the data provided below to calculate operating income for the year ended December 31,2011.
Eddy Money signed a three-year contract to host the Tonight Show. Although he will receive $130 million dollars over three years, the terms of the contract are that he is to receive $10 million at the end of each of the next three years plus an ad..
discuss ways in which the company you researched could best use job costing information to design and implement a job costing system
Barrett's Fashions forecast sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for the four..
Precisely explain how the capital asset pricing model CAPM determines the required rate of return on a portfolio of securities. Include in your discussion a mention of systematic and unsystematic risk and which is priced using CAPM.
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