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On January 1, 2013, Tonge Industries had outstanding 440,000 common shares (par $l) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock (par $100), convertible into 40,000 common shares.On October 1, 2013, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2013, there were incentive stock options outstanding, issued in 2012, and exercisable after one year for 20,000 shares of common stock at an exercise price of $30. The market price of the common stock at year end was $48. During the year the price of the common shares had averaged $40.Net income was $650,000. The tax rate for the year was 40%.Required:Compute basic and diluted EPS for the year ended December 31, 2013.
after the bank reconciliation is complete which adjustments are recorded in the accounting records? what do you think
Discuss how this course will influence your current or future career choices. Which topics did you enjoy most and which did you find the most useful?
e5-12 preparation of a balance sheet presented below is the trial balance of vivaldi corporation at december 31 2012
what is the difference between budget lapsing and line-item budgets?what types of organizations would you expect to use
selected information about income statement accounts for the reed company is presented below the companys fiscal year
Show me the assumption and give the simple entry for explanation
assess the short- and long-term impact the disaster had to the business and stakeholders. Provide specific examples to support your response.
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at Dec 31. Year 2 would be reduced by ?
for this we must do tasks related to a retail store selling dvds. this business is relatively simple with approximately
if beginning and ending goods in process inventories are 5000and 15000 respectively and cost of goods manufactured
A hurricane completely destroyed her duplex the current year. Julie lived in one-half of the duplex and rented out the other half. Julie paid $400,000 for the duplex and has taken $80,000 of cost recovery on the rental portion of the duplex. Th..
The company had an opening balance of Retained Earnings as $1050000. The Company earned an income of $36000 during the year. In the previous year the income was understated because of the error in calculation of Inventory. The amount from which the i..
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