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On January 1, 2013, Tonge Industries had outstanding 620,000 common shares (par $1) that originally sold for $20 per share, and 7,000 shares of 10% cumulative preferred stock (par $100), convertible into 70,000 common shares. On October 1, 2013, Tonge sold and issued an additional 20,000 shares of common stock at $38. At December 31, 2013, there were incentive stock options outstanding, issued in 2012, and exercisable after one year for 27,000 shares of common stock at an exercise price of $35. The market price of the common stock at year-end was $53. During the year the price of the common shares had averaged $45. Net income was $760,000. The tax rate for the year was 40%.
Required: Compute basic and diluted EPS for the year ended December 31, 2013. (Do not round intermediate calculations and round your final answers to 2 decimal places.)
Network Inc manufactures networking devices for personal computer systems, using just-in-time methods. After receiving an order for 300 devices, the company bought materials (for cash) costing $14,000 to fill this order. It incurred labor and overhea..
Clydes marina has estimated that fixed costs per month are $300,000 and variable cost per dollar of sales is $0.40. Illustrate what is the break -even point per month in sales dollars?
Determining the Accounting Equation Effects of Transactions [LO 5-3] La-Z-Boy Incorporated is a furniture manufacturer. Listed here are typical aggregate transactions from the first quarter of a recent year (in millions).
Which costs are relevant and which are not relevant in the choice between these two alternatives and find the differential cost between the two alternatives?
compute the operating income for 2007chan manufacturing company data for 20x7 followsales 12000 units at 17 eachactual
Select a global challenge facing international financial reporting and explain how preparers and users of financial statements and capital market regulators have a stake in the outcome.
The Warbler Jeans Company produces two different types of jeans. One is called the “Simple Life” and the other is called the “Fancy Life” The company’s Production Budget requires 353,500 units of Simple jeans and 196,000 Fancy jeans to be manufacture..
What is the new breakeven point if the variable cost increases to $25 per customer per month? c. If 20,000 subscribers will drop their service because of the monthly fee increase in Part (b), will the company still be profitable?
calculation of total variable cost and contribution income statement.during 2007 the company manufactured 120000 units
For this assignment the requirement is to create a document for financial management and accounting that uses generic data and examples that defines and analyzes the following terms, concepts, and principles in a business.
The concept of relevance is critical to properly applying managerial accounting tools. As a practical matter, it is easier to understand than it is to apply. Think back on your own experiences, and discuss an instance where you failed to properly ..
A city sells $5 million of 20-year general obligation bonds on October 1, 2013. Interest on the debt is payable at the rate of 5% a year on the unpaid balance of the debt, every six months commencing March 31, 2014. How much should the city report as..
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