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Paul Company had 100,000 shares of common stock outstanding on January 1, 2009. On September 30, 2009, Paul sold 48,000 shares of common stock for cash. Paul also had 10,000 shares of convertible preferred stock outstanding throughout 2009. The preferred stock is $100 par, 6%, and is convertible into 3 shares of common for each share of preferred. Paul also had 500, 8%, convertible bonds outstanding throughout 2009. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at par. Reported net income for 2009 was $300,000 with a 40% tax rate. The regular common and preferred dividends were paid in 2009.
Compute basic earnings per share for 2009.
An examination of Taylor's payroll records revealed that the company worked 22,000 labor hours (cost = $319,000) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $14.80 per hou..
In a balanced scorecard for a large financial bank ,do the different measures carry different weights? And if so, what measure has the largest weighting (counts the most)and why?
What impact will increasing the percentage of completion have on Terra Firma's financial statements? Use numbers to back up your answer.
Carol attends State University and received a $10,000 scholarship for her senior year that began in September, 2011. Up to the time of her graduation in May, 2012, Carol had paid the following expenses for the two semesters from her scholarship fu..
1.Determine the total compensation cost pertaining to the options. 2.Prepare the appropriate journal entry(if any)to record the award of options on January 1,2009.
Assuming that specific identification costs are impracticable and that Jamison allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Trucks?
Typically U.S. corporations record and report most changes in accounting principle retrospectively, but sometimes report the changes prospectively. Explain when it is appropriate to report the changes prospectively. Provide examples.
Determine the administrative costs calculated to each operating department.
Assuming that the equipment was purchased at the beginning of 2011, by how much would Alice's treatment of the equipment increase before tax earnings as opposed to expensing the equipment cost?
On January 1, 2010, Priscilla signed a FIVE year lease to rent office space from Marjorie. The lease commenced immediately on January 1, 2010. During 2010, Priscilla paid Marjorie $24,000 for the first year's rent, $2,000 for the last month's rent..
Suppose Asset A has an expected return of 10% and a standard deviation of 20%. Asset B has an expected return of 16% and a standard deviation of 40%. I f the correlation between A and B is 0.35, what are the expected return and standard deviation ..
select two components of internal control. Explain how the role of internal and external audit would differ in assessing these components.
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