User Account

All Pages

Calculate diluted earnings per share for the year ended

Assignment Help Accounting Basics
Reference no: EM132616929

Question - In 2019, Blossom Ltd. issued $52,000 of 8% bonds at par, with each $1,000 bond being convertible into 100 common shares. The company had revenues of $73,900 and expenses of $41,100 for 2020, not including interest and taxes (assume a tax rate of 25%). Throughout 2020, 1,300 common shares were outstanding, and none of the bonds were converted or redeemed. (For simplicity, assume that the convertible bonds' equity element is not recorded.)

Required -

a. Calculate diluted earnings per share for the year ended December 31, 2020.

b. Assume that the 52 bonds were issued on October 1, 2020 (rather than in 2019), and that none have been converted or redeemed. Calculate diluted earnings per share for the year ended December 31, 2020.

c. Assume the bonds were issued in 2019. Assume that 8 of the 52 bonds were converted on July 1, 2020. Calculate diluted earnings per share for the year ended December 31, 2020.

Reference no: EM132616929

Questions Cloud

How has change affected general financial statement uses : The SEC now requires filers to report financial statements using XBRL, How has this change affected general financial statement users
Behavior involves illegal behavior-unethical behavior : Determine whether the behavior involves an illegal behavior, unethical behavior, or both.
Calculate the weighted average number of common shares : Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement
Crime analysis requires establishing value out of data : Crime analysis requires establishing value out of data. Officer Johnson gives you a cell phone that was in possession of a burglary suspect.
Calculate diluted earnings per share for the year ended : Assume the bonds were issued in 2019. Assume that 8 of the 52 bonds were converted on July 1, 2020. Calculate diluted earnings per share for the year ended
Communication strategies for working with population : Describe communication strategies for working with the population within this department, including considerations for culture and gender.
Determine the number of shares : Determine for 2020 the number of shares to be used in calculating: 1. Basic earnings per share, 2. Diluted earnings per share
Gang violence within community : Identify at least three specific attributes that lead to gang violence within community. discuss how these attributes might have impact on gangs of community.
Analyse internal and external business environment forces : Select and approach any business entity of your choice and critically identify and analyse with examples both internal and external business environment forces

Reviews

Write a Review

Accounting Basics Questions & Answers

  What does management believe is the correct cost

What does management believe is the correct cost of common equity for the firm? (Round intermediate calculations to 4 decimal places)

  Calculate the initial tax imposed on White Pearl

The Board of Directors of White Pearl, Inc., a private foundation, consists of Charlyne, Beth, and Carlos. Calculate the initial tax imposed on White Pearl

  Ridley company has a factory machine with a book value of

ridley company has a factory machine with a book value of 86400 and a remaining useful life of 6 years. a new machine

  Discuss why would edwards be willing to pay

Why would Edwards be willing to pay $1,500,000 and assume $500,000 of Freidman's debts when the assets were only worth $1,400,000

  What was the gross book value of the assets disposed

The annual report does not disclose any gain or loss on the disposition of property, What was the gross book value of the assets disposed

  What amount of cash and cash equivalents should be reported

Required: What amount of cash and cash equivalents should be reported on the company's 2017 statement of financial position

  Should you take the purchases discount explain

You purchase a batch of products on terms 3/10, n/90, Should you take the purchases discount? Explain

  How much interest expense is recorded at december

At December 31, 2015, Archangel made an adjusting entry to accrue interest at year-end. How much interest expense is recorded at December 31, 2015

  What is the average selling price per share of common stock

Rancho Cucamonga Inc. presented the following shareholders' equity information on December 31, 2019. What is the average selling price per share of common stock

  Using exhibit 7-13 as a guideprepare a quantitative

1. using exhibit 7-12 as a guide compute the product margin for the ex300 and the tx500 under the companys traditional

  What is the adjusted overhead balance in job d

How much overhead was charged to Job D during 2015? After allocating (prorating) at the end of the year, what is the adjusted OVERHEAD balance in Job D?

  What is the cost of purchasing the equipment

MLC, Inc. plans to either lease or buy equipment. The equipment has a 3-year life with no salvage expected. The company will depreciate on a straight-line basis over 3 years. The company can borrow the $6 million purchase price at 10% to buy the equi..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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