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On January 1, 2020, Rondeau Inc., a publicly traded company, had 200,000 common shares issued and outstanding and 10,000 of $100 par value, 6% cumulative preferred shares issued and outstanding. On October 31, 2020, the company issued a 2:1 stock split. For 2020, the company reported a gain from discontinued operations of $30,000 (net of tax) and net income after tax of $375,000 (after the gain from discontinued operations). Required Problem a. Calculate the weighted average number of shares outstanding to use in calculating earnings per common share during 2020. Round to the nearest whole number. Problem b. Calculate earnings per share as it should be reported to shareholders by completing the table below. Round to the nearest cent.
If the annual depreciation recorded for the second year after purchase would be? A company purchased factory equipment for $700000.
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Downing Company purchased a new machine on October 1, 2012, at a cost of $90,000. The company estimated that the machine has a salvage value of $6,000. The machine is expected to be used for 70,000 working hours during its 8-year life.
Which of the following persons do not pass both the age and relationship tests for a qualifying child. A dependent’s only income for 2014 is $6000 of taxable wages $840 of taxable interest on a savings account the dependent’s 2014 taxable income is $..
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P Corp. owns 800 voting common shares out of Q Corp, What is the balance in the investment in Q account immediately following the sale?
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