How much is the diluted earnings per share for the year

Assignment Help Accounting Basics
Reference no: EM132889590

Problem - At December 31, 2019, Talbot Corporation had 90,000 shares of common stock and 20,000 shares of convertible preferred stock outstanding, in addition to 9% convertible bonds payable in the face amount of $2,000,000. During 2019, Talbot paid dividends of $2.50 per share on the preferred stock. The preferred stock is convertible into 20,000 shares of common stock. The 9% convertible bonds are convertible into 30,000 shares of common stock. Net income for 2019 was $970,000. Assume an income tax rate of 30%. How much is the diluted earnings per share for the year ended December 31, 2019?

Reference no: EM132889590

Questions Cloud

Future possibilities of computer-mediated communication : Write a paper and accompanying presentation evaluating the evolution, current impact, and future possibilities of computer-mediated communication
Role of ethics in negotiations : What do you consider is the role of Ethics in Negotiations and describe the process of resolving the moral problems you would confront as a negotiator.
What should be hyde basic earnings per share : Net income for the year ended December 31, 2019, was $780,000. What should be Hyde's 2019 basic earnings per share
Computing basic earnings per share : What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively
How much is the diluted earnings per share for the year : Net income for 2019 was $970,000. Assume an income tax rate of 30%. How much is the diluted earnings per share for the year ended December 31, 2019
What is the dividend distribution to each class of stock : Edgefield intends to distribute cash dividends of $14,000, and there are no dividends in arrears. What is the dividend distribution to each class of stock
Prepare the journal entry on the date of declaration : Assuming that there were 50,000 shares previously outstanding, with a $10 par value, prepare the journal entry on the date of declaration
What professional ethical dilemmas are bao and bhavneet : What is happening in your internship or workplace and How are you relating what you have learned in Module 1 to what is happening in your workplace
Treasury manager for multi-national corporation : You are a Treasury Manager for a multi-national corporation. What options would be available for you to borrow money in the short-term?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss how much should the county recognize as revenues

If Oak County's fiscal year ends June 30, 2017, how much should the county recognize as revenues

  Compute the predicted break-even point in dollar sales for

astro co. sold 20400 units of its only product and incurred a 53368 loss ignoring taxes for the current year as shown

  Explain the management bonus hypothesis

Explain the management bonus hypothesis and the debt hypothesis of Positive Accounting Theory - Why would an organisation agree to enter into such agreements

  What will be your annual payment if you sign this mortgage

You are thinking of purchasing a house. The house costs $200,000. What will be your annual payment if you sign this mortgage

  Discuss the all given journal entries

State precisely the circumstances which could have given rise to the following Journal entries in the books of G. Gough, a manufacturer.

  Calculate the annual interest and the current yield

Last year, Kevin Smith purchased a $1000 corporate bond with an annual interest rate of 5.75%. Calculate the annual interest and the current yield

  A company recently approached baseballs management about

baseball products manufactures a single product with the following full unit costs at a volume of 2000 unitsdirect

  On january 1 2011 plano company acquired 8 percent 16000

on january 1 2011 plano company acquired 8 percent 16000 shares of the outstanding voting shares of the sumter company

  Oaks edge company budgeted sales

Oaks Edge Company's budgeted sales were 22,500 units at $76 per unit. Actual sales were 21,750 units at $79 per unit. What was Oaks Edge sales price variance?

  Moons unamortized bond discount

Moon uses the effective interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2004, Moon's unamortized bond discount should be:

  What journal is required at the asset reclassification date

The machine was originally purchased for IDR 50,000,000 on January 1, 2016. What journal is required at the asset reclassification date

  Calculate the total cost of the two production departments

The direct costs of Departments P1 and P2 are $9,000 and $15,000, respectively. Calculate the total cost of the two production departments

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd