Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Convertible Securities and Earnings per Share
Francis Company has 20,000 shares of common stock outstanding during all of 2013. It also has two convertible securities outstanding at the end of 2013. These are:
Convertible preferred stock: 2,000 shares of 9.5%, $50 par, preferred stock were issued on January 2, 2013, for $60 per share. Each share of preferred stock is convertible into 3 shares of common stock. Current dividends have been declared. To date, no preferred stock has been converted.Convertible bonds: Bonds with a face value of $200,000 and an interest rate of 5.7% were issued at par in 2012. Each $1,000 bond is convertible into 22 shares of common stock. To date, no bonds have been converted.Francis earned net income of $61,500 during 2013. Its income tax rate is 30%.
Required:
(a) Compute the 2013 diluted earnings per share. Round your answer to the nearest cent.
Based on the static budget report: Prepare a flexible budget report for the year. Did management do a good, average, or poor job of controlling expenses?
An early extinguishment of bonds payable, which were originally issued at a premium, is made by purchase of the bonds between interest dates. At the time of reacquisition, A debt instrument with no ready market is exchanged for property whose fair ma..
What methods of cost estimation rely primarily on historical data? Discuss the problems an unwary user my encounter with the use of historical cost data.
Data in the accounting information system are stored electronically, such as on a disk. “Truth” is one of the qualitative characteristics identified by the FASB conceptual framework. Information you find on the Internet is reliable. Cost-effectivenes..
Intra-entity sales had the same markup as sales to outsiders. Skillet still had 40% of the intra-entity sales as inventory at the end of 2011. What are consolidated sales and cost of goods sold for 2011?
calculation of average issue price and sale price of common stock.the following items were shown on the balance sheet
Which of the following would be included in cash flows from operating activities?
MSM company sells clothing for young adults. The firm has normal monthly fixed costs of $90,000 $38,000 of this amount is fixed salaries
Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares.
Formulate and solve a linear programming model for Shannon that will help you advise her if she should lease the booth - Evaluate the prospect of borrowing money before the first game.
Data are available for Joey CO's defined pension plan
case 1the sea-soft water company distributes its water softeners to dealers upon their request. the contract agreement
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd