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Blossom Corporation earned net income of $300,000 in 2020 and had 82,000 common shares outstanding throughout the year. Also outstanding all year was $920,000 of 10% bonds that are convertible into 26,000 common shares. Blossom's tax rate is 30%.
Question 1: Calculate Blossom's 2020 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately.
Harry Johnson has a defined benefit pension plan. Characteristics of the plan during 2014 are as follows: Calculate the three components of net pension cost for 2016, indicating how they are reported in the income statement. There were no AOCI balanc..
Olso Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales in units......5,000. What is the contribution margin per unit? What ..
The classification of receivables and how companies handle uncollectible accounts - Review a sample of financial statements submitted by an SEC registrant.
Compute the amount of gross pro?t to be recognized each year. assuming the percentage-of-completion method is used. During 2020, Sandhill Company started
Investment Decisions for Big Spenders Inc. Background You are an Analyst for the professional service firm, BUSI 1043 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your first day on..
Crane Company purchased Wildhorse Co. and agreed to give stockholders of Wildhorse Co. 50400 additional shares in 2020 if Wildhorse Co.'s net income
Prepare appropriate the appropriate journal entry on December 1, 2015 to record the purchase of this futures contract by Legoria Co. On January 31, 2016, Legoria Co. sells $10,000 worth of PoBoy Loaves. The COGS related to this sell is $6,000. Prepar..
Pressure Hydraulics is a locally owned business that currently has three service centres; Newcastle, Toronto and Maitland. Each service centre provides maintenance and specialised servicing of hydraulic systems
You think the dividend two years from today will be $2.20 per share. What is your estimate of Co. A's share price today if the required return is 12%?
What is Avery's WACC? Avery Corporation's target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt
During 2014, Victoria's Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days' inventory on hand.
The following data concerns selected inventory items. Description Quantity Unit Cost Market Value Department
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