The earnings per share was $0.40
First calculate the pretax income for the period:
= Revenue - Cost of goods sold - Operating expenses - interest expenses
= 10,000 - 5,000 - 3,000 - 1,000
= $1,000
Then find the post tax income:
= Pretax income x (1 - tax rate)
= 1,000 x ( 1 - 20%)
= $800
The earnings per share is:
= Post tax income / Number of shares
= 800 / 2,000
= $0.40
The earnings per share is $0.40 per share.
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Answer:
Principle of anticipation
Explanation:
The principle of anticipation is a way to measure or calculate the value of a property. According to this rule the value of a property depends on the anticipated or expected income or cash flows the property can generate in the future. The higher the anticipated or expected income or cash flow the higher the value of the property will be. For example if a commercial building has a anticipated income of rent of $100,000 and the another building has an anticipated income of rent of $200,000, the building with the higher anticipated income will have a higher price if all other things are equal. In this case the anticipated annual rental income has a direct bearing on what the investor will pay for the property. So this is an example of the principle of anticipation.
Answer:
1. Amortization Expense; Patents.
2. Copyright.
Explanation:
Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.
Generally, patents are used on innovation for products that are manufactured through the application of various technologies.
Basically, the three (3) main ways to protect an intellectual property is to employ the use of
I. Trademarks.
II. Patents.
III. Copyright.
Copyright law can be defined as a set of formal rules granted by a government to protect an intellectual property by giving the owner an exclusive right to use while preventing any unauthorized access, use or duplication by others.
Filling the missing words or texts in the question, we have;
1. The entry to record the amortization of a patent would include a debit to amortization expense and a credit to patents. Amortization in financial accounting is used to periodically lower the book value of a loan principal or an intangible asset such as intellectual property over a set period of time.
2. Copyright: the exclusive right to publish and sell a literary, artistic, or musical composition is granted by a patent.
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