User Account

All Pages

Compute diluted earnings per share

Assignment Help Accounting Basics
Reference no: EM133143309

Question - In 2019, Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues of $17,500 and expenses other than interest and taxes of $8,400 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,000 shares of common stock were outstanding; none of the bonds was converted or redeemed.

(a) Compute diluted earnings per share for 2020.

(b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020.

(c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share for 2020.

Reference no: EM133143309

Questions Cloud

How much does he need to pay off the balance : One of your customers obtained a 10-year loan of $1,000,000 from your company. How much does he need to pay off the balance
Wholesalers and suppliers : Explain in detail. How much more complex is it to order from an international supplier than a local supplier
What amount would scott report as gross income : On December 29, 2019, Scott received a deposit of $7,000 in addition to the first and last months' rent. What amount would Scott report as gross income
What is your understanding of cognitive psychology : What is the difference between societal and situational deviance? What is your understanding of cognitive psychology?
Compute diluted earnings per share : Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share
Prepare the necessary adjusting entry : The company estimated the cost to sell at 10% of the selling price of each of the gadgets. Prepare the necessary adjusting entry
Understanding how family is defined in today society : "Family" means many things to many people. How do you define family? Think about other diverse family structures that are present in society.
The impact of social class on the family : How has it impacted your family throughout your lifespan? Discuss why class is an important social factor to consider when discussing the family?
Impact assessment of a Technology Trend : Impact assessment of a Technology Trend by researching and explaining the evolution, benefits and applications

Reviews

Write a Review

Accounting Basics Questions & Answers

  Identify the control environment factors

The purchased parts stockroom is segregated from the production areas by a wire fence. Identify the control environment factors

  Record the conversions using the book value method

On January 1, 2020, Monty corporation issued $3,800,000 of 10-year, 8% convertible debentures at 104. Record the conversions using the book value method

  Break-even point and margin of safety

In the middle of the year, the price of Lake Corporation's major raw material increased by 8%. How would this increase affect the company's break-even point and margin of safety?

  Record the depletion in the current year in a journal entry

During the current year, Sands mined 350,000 tons of ore. Record the depletion in the current year in a journal entry

  Compute the basis of the new shares of ABC stock

On May 26, 2017, he repurchased 800 shares of ABC stock for $1800( $2.25 per share). Compute the basis of the 800 new shares of ABC stock

  Calculate the cost per equivalent unit for conversion

In the cutting department of Chess Company, Calculate the cost per equivalent unit for conversion using the average cost procedure.

  Compute the net income under absorption costing method

During the year, the company produced 20,000 units and sold 16,000 units. Compute the net income under absorption costing method

  Present the worksheet elimination entries necessary

Present the worksheet elimination entries necessary to prepare consolidated financial statements for 20X7.

  What is the average tax rate for that individual

Assume a single taxpayer is taxed at 10% on the first $9,075 of taxable income, What the average tax rate for that individual if her taxable income is $41,350

  How do identify two different stock exchange in united state

How do identify two different stock exchanges in the United States. Describe the similarities and differences between the two stock exchanges.

  At the vicksburg company actual sales are 1200000 and

at the vicksburg company actual sales are 1200000 and break-even sales are 840000. compute a the margin of safety in

  Calculate the inventory value at the end

The pool's value on that date was $1,225,000. Calculate the inventory value at the end of 2021 using the dollar-value LIFO method

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