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Answer:
The earnings per share for Bramble in 2020 is $2.99
Explanation:
This was arrived at by preparing income statement for 2020,where in the results from continued operations and discontinued were shown.
The income from continued operations attracted tax at 35% while the losses from the discontinued operations got a tax benefit at the same 35% tax rate.
Note that the earnings used in calculating earnings per share is net of preferred dividends as only earnings attributable to ordinary shareholders are considered.
Find attached spreadsheet for the full blown income statement and the calculation of earnings per share.
Answer:
(C) Bonds Payable for $150,000
Explanation:
the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:
Bonds Payable 150,000 credit
Discount on bonds 15,000 debit
When the bonds are converted, we will write-off these account against common stock and additional paid-in
To wirte-off the account we need to post them in the other side so we got:
Bonds payable debit 150,000 debit
Discount on bonds 15,000 credit
Common Stock xx credit
Additional paid.in xx credit
These makes option C correct
