Answer:
Earning per share for the year 2016 is $2.68
Explanation:
For computing the earning per share, we have to use the formula of earning per share which is shown below:
= Net income ÷ total number of outstanding shares
where,
Net income is $937,500
And, the total number of outstanding shares equals to
= 2015 shares + 2016 shares
= 300,000 + 50,000
= 350,000
Now put these values to the above formula
So, the earning per share would be equals to
= $937,500 ÷ 350,000 shares
= $2.68
The earning after tax is not considered. Thus, it is ignored.
Hence, earning per share for the year 2016 is $2.68
A partnership intentionally created and recognized, orally or in writing is known as a express partnership.
hope this helps!
Answer:
James and Short LLC
Short's capital account on July 1, 20X1 should be recorded at the fair value of contributed property minus the mortgage liability, which the partnership assumed.
Explanation:
The fair value of contributed property is the current market value of the contributed property by Short. It is the market value that will determine how the contributed property can be valued. The market value assumes that the contributed property is being sold in pieces and not as a whole. This is why the value is considered a fair basis for recognizing the capital contribution of Short into the partnership.
Awareness.
If you can manage a key component of Emotional Intelligence: Active Listening, you’ll start to learn more because people will trust you, you’ll get better with people and meet more, and you’ll start to see success in work and in life.
Combine your ability to actively listen (to hear and understand what people are saying and demonstrate it) with:
Charisma, grativas, animus
Trustworthyness, authenticity, compassion
Empathy, intelligence and understanding
And you’ll get all those things you asked about because you’ll start to realise it isn’t about you: it’s about everyone else.
Answer:
Explanation:
Because land never depreciates, Western Bank & Trust wanted to distribute a higher percentage of the purchase price to the building, rather than the land. By allocating 90% of the purchase price to the building, rather than a more accurate 70%, Western Bank & Trust increases the depreciation amount of the building each year. For tax purposes, the IRS requires that the Modified Accelerated Cost Recovery System (MACRS) be used as the depreciation method used by companies. Under this method, the IRS specifies the useful life for a specific asset. MACRS also ignores residual value of an asset at the end of its useful life. By stating that the building was worth 90% of the total purchase price, Western Bank is attempting to increase its tax deduction from the IRS, because only the building depreciates, not the land. This improper allocation of the total purchase amount violates GAAP principles, which require that accounting information be “relevant and have faithful representation.” The information must be “complete, neutral, and free from error” (Nobles, Mattison, & Matsumura, 2014). For Western Bank to provide complete, neutral, and free from error information, it should record the transaction honestly: 70% to the building, 30% to the land. This dishonest representation is harmful to the federal government in that it is allowing Western Bank to take more money than what it is owed. If these kinds of situations happen on a large scale, it could have a huge impact on the economy in general. Source: Nobles, T., Mattison, B., & Matsumura, E. M. (2014). Horngren's Accounting, 10th Edition. Pearson Education, Inc. Student 2
