Frantic Fast Foods had earnings after taxes of $900,000 in 20X1 with 301,000 shares outstanding. On January 1, 20X2, the firm is
sued 32,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 28 percent. a. Compute earnings per share for the year 20X1. (Round your answer to 2 decimal places.) b. Compute earnings per share for the year 20X2. (Round your answer to 2 decimal places.)
True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.
The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.
Closing entries refers to the balance statements that are entered at the end of an accounting period in order to transfer the temporary account balances into permanent accounts. Based on the balances listed in the question it can be said that the closing entry to retained earnings will be Debit of $1,445. This refers to money going out of the account and can be calculated by adding all the revenue to the account and subtracting the expenses leaving $ - 1,445 thus being debit.
