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Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/11. During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%.
Instructions:
Compute the proper earnings per share for 2010.
Which financial statement requires input from the income statement and statement of retained earnings. Also what information does this financial statement provide
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What is a committed fund balance in a governmental funds balance sheet? How does it differ from a restricted fund balance?
Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.
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Using the installment-sales method, make summary entries to record: (a) the installment sales and cash collections; (b) the cost of installment sales; (c) the unrealized gross profit; (d) the realized gross profit.
Hayden's outside basis in his interest in the HIGH Partnership is $420,000. In a proportionate nonliquidating distribution, the partnership distributes to him cash of $100,000, inventory
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What's the relationship between the acquisition and payment cycle and the inventory and warehousing cycle in the audit of a manufacturing company?
Filer Manufacturing has 9.5 million shares of common stock outstanding. The current share price is $53 and the book value per share is $5.
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