Calculate basic and restate and diluted earnings per share

Assignment Help Financial Accounting
Reference no: EM132936180

On December 31, 2021, Culver Co. had 178,500 common shares outstanding. The company also had outstanding a convertible bond with a face value of $84,500 that had been issued in 2015. The bond paid 6% interest per year and was convertible to 1,690 common shares. Culver Co. had net income for 2021 of $838,950 and was subject to a 30% income tax rate. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately).

Problem 1: Calculate diluted earnings per share. (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM132936180

Questions Cloud

Review of the appraisal methods : Review each of the appraisal methods and discuss extensively which one you might use for the following types of jobs. Explain the reasons for your choice.
Describe how the knowledge you have gained : Describe how the knowledge you have gained regarding the deinstitutionalization/ community living movement will shape how you work with individuals
Evidence of unethical business practices : Would you leave your position with a company if you saw evidence of unethical business practices? Why or why not? What factors would you consider in making that
What is black belt in six sigma : What is black belt in Six Sigma and how can help in HR position? With references please?
Calculate basic and restate and diluted earnings per share : Calculate diluted earnings per share. The company also had outstanding a convertible bond with a face value of $84,500 that had been issued in 2015.
Example of the use of technology in banking : Provide and explain an example of the use of technology in banking, investment, and insurance businesses.
How much is the appropriation for treasury shares : Assuming no other treasury share transactions occurred after, how much is the appropriation for treasury shares by the end of the year
Discuss the particular characteristics of a job : Discuss how the particular characteristics of a job, an organization, or an applicant affect the utility of any test.
Compare changing of accounting practices in united states : Compare the changing of accounting practices in the United States of America and Malaysia by taking consideration of the values or culture

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd