Answer:
A. $5.17
Explanation:
Use the following formula to calculate the Earnings per share
Earnings per share = ( Net Income - preferred Dividend ) / Weighted average numbers of outstanding shares
Where
Net Income = $370,000
Preferred Dividend = 10,000 x $100 x 6% = $60,000
Weighted average numbers of outstanding shares = 54,000 shares + ( 18,000 shares x 4/12 ) = 54,000 shares + 6,000 shares = 60,000 shares
Placing values in the formula
Earnings per share = ( $370,000 - $60,000 ) / 60,000 shares
Earnings per share = $5.17 per share
Answer:
From all indications,the two rents received have been posted wrongly, I want to believe that you are required to post the adjusting entries,hence my answer below:
The first $9000 was posted to deferred revenue,whereas only two months should have been
First rent:
DR Deferred revenue $3000
CR Revenue $3000
Second Rent
DR Revenue $6000
CR Deferred revenue $6000
Explanation:
The first $9000 was posted to deferred revenue,whereas only two months should have been deferred and December rent recognized as rent.
As far as the second rent is concerned only one month has been earned,as a result the revenue should be credited with just $3000 for December.
This then mean that revenue from the second property has been overstated in December by $6000,this necessitated by adjustment above.
Answer:
Identity theft
Explanation:
Identity theft is when a person steals another person's information like name and credit card information and uses it to commit a crime. For example, a person can use someone else's name and social security number to get a loan. According to this, Sean experienced identity theft because someone stole his information and got a credit card under his name.