Answer:
$1.71 per share
Explanation:
Earning per share is the per share rate of net earning for the period after deducting any preferred dividend. We use average common shares outstanding to calculate the Basic EPS. Formula for the Basic EPS is as follow:
Basic EPS = ( Net Income - Preferred Dividend ) / average common shares outstanding
As we do not have any preferred share, placing value in the formula
Basic EPS = ( $3,100,800 - $0 ) / 1,818,000
Basic EPS = $1.71 per share
The convertible bonds are incorporated in the calculation of diluted earning per share.
The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.
As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.
Answers
let <em>C</em> be the capital, then
:
The capital contributed by Mr. Jefferson was <em>$4,262,500</em>
Answer:
The correct adjusting journal entry for 12/31/09:
D. debit Spice Expense and credit Spice Inventory 240
Explanation:
Roland Richard purchased 200 ounces off of an expensive spice for $400.
Cost per ounce = $400/200 = $2
By December, 12/31/09, there were 80 ounces on hand. Roland Richard used 120 ounces of expensive spice with the amount of expense: $2 x 120 = $240
The adjusting journal entry for 12/31/09:
Debit Spice Expense $240
Credit Spice Inventory $240
