User Account

All Pages

What amount of shares should Coffee use

Assignment Help Accounting Basics
Reference no: EM133157248

Question - Coffee Co. had the following information related to common and preferred shares during the year:

Common shares outstanding

1/1

700,000

Common shares repurchased

3/31

20,000

Conversion of preferred shares

6/30

40,000

Common shares repurchased

12/1

36,000

Coffee reported net income of $2,000,000 at December 31. What amount of shares should Coffee use as the denominator in the computation of basic earnings per share?

A. 684,000

B. 700,000

C. 702,000

D. 740,000

Reference no: EM133157248

Questions Cloud

What new knowledge-skill or ability : What new knowledge, skill, or ability (KSA) did you learn? Was the training delivery model effective in learning the KSA?
Prepare the adjusting entry to record fair value adjustment : On December 31, prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments
Calculate ABC Company net income : Calculate ABC Company's 2023 net income using absorption costing. Assume ABC Company employs a FIFO inventory cost flow assumption
What potential risks may be present in this engagement : The company is contemplating a public offering to raise $1 million. What potential risks may be present in this engagement
What amount of shares should Coffee use : Coffee reported net income of $2,000,000 at December 31. What amount of shares should Coffee use as the denominator in the computation
Explain the situations that suits Signalling theory : Explain the situations that suits Signalling theory such as (examples/situations of the theories, where they use this theory provide real life examples)
What would be the amount of her annual OPP pension : If she starts receiving her OPP at age 65, she will receive the maximum annual pension of $15,043. What would be the amount of her annual OPP pension
What is the journal transaction to record dividend declared : The company declares the dividend on the 2/12/2021. What is the journal transaction to record the dividend declared
Find the simple interest on a loan : Find the simple interest on a loan of (a) $500 at 8.25% for 1 year, (b) $2,000 at 16.5% for 30 months and (c) $1,200 at 10.82% for 6 months

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determien how might a financial statement reader detect

Determien How might a financial statement reader detect such behavior? In addition, provide an example to prove how the equity method may result in manipulation

  Show the computations of net income

Weddings on Demand sells on account and manages its own receivables. Average experience for the past three years has been as follows.

  Discuss the expected levels of control risk

Discuss the expected levels of control risk and detection risk you would expect to see in the Audit Program for Milky-Bar

  Prepare the direct materials purchases budget

January's beginning inventory meets this requirement. Cucci's standard cost per foot is $2.80. Prepare the direct materials purchases budget

  Prepare the entries to record the sale of the milk machines

Prepare the entries to record the sale of the milk machines and the related warranty costs, assuming the accrual method is used.

  How bank reconciliation can be used as internal control tool

Describe how the bank reconciliation can be used as an internal control tool for cash. Give at least one reason to support your answer.

  What is the stock expected price four years from today

A stock is expected to pay a dividend of $3.50 at the end of year, If its required return is 18%, what is the stock's expected price 4 years from today.

  Prepare a cost of quality report

Prepare a cost of quality report grouping costs into prevention, appraisal, internal failure, and external failure. Also show costs as a percent of sales.

  Non-financial objectives and financial objectives

How does the Balanced Scorecard build the relationship between non-financial objectives and financial objectives?

  Prepare worksheet entries and post to the worksheet

Prepare worksheet entries and post to the worksheet for the items. Identify each adjustment by the letter used in the problem

  Is unethical for sharon to refuse to support the standards

Fulmar Manufacturing Co. is the manufacturer of miniature models, Is it unethical for Sharon to refuse to support the standards? Explain.

  Prepare the journal entry to record the transaction

Assume that Hurly Co. elects the fair value option for this note. Prepare the journal entry at December 31, 2010, if the fair value of the note is $320,000.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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