1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Georgia [21]
3 years ago
9

January 1, 2021, Woody Forrest Corporation granted executive stock options to purchase 41,000 of its common shares at $9 each. T

he market price of common stock was $24 per share on December 31, 2021, and averaged $12 per share during the year then ended. There was no change in the 164,000 shares of outstanding common stock during the year. Net income for the year was $39,000. The number of shares to be used in computing diluted earnings per share for the quarter is:
Business
1 answer:
ICE Princess25 [194]3 years ago
8 0

Answer:

174,250 shares

Explanation:

The computation of the number of shares to be used in computing diluted earnings per share is shown below:

Proceeds from exercise of options (a)  $369,000  (41,000 shares × $9)

Used to repurchased for common stock (b) 30,750 shares (41,000 shares × $9 ÷ $12)

Number of shares for exercised (c)                           41,000 shares

Less: repurchased shares (d)                                    -30,750 shares

Diluted common shares {e = c - d}                             10,250 shares

Add: Common shares (f)                                             164,000 shares

Total number of shares for diluted earning per share 174,250 shares

We ignored the market price of common stock as it is not relevant.

You might be interested in
Drawing on material in the chapter and your own research, prepare a paper describing your views on the major social and legal is
atroni [7]

Answer: Online Sales Taxes

Explanation:

Taxes has grown much bigger for most online retailers, when the like of Amazon started selling products online they were not billed to pay tax, those taxed then where companies who had a building(structure) but now online stores are now subject to taxes.

Some of the tax are much that it affects sellers who are not able to break even and make profit, especially when they don't meet targets they've set for themselves.

7 0
3 years ago
Roland Richard, a baker, purchased 200 ounces off of an expensive spice for $400 on 3/1/09. The journal entry to record the purc
kirill [66]

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

6 0
3 years ago
Question A
krok68 [10]

Answer:

uh ok... whats the question?

Explanation:

i will help u after u tell meh.

8 0
3 years ago
Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 P
romanna [79]

Answer:

Details below

Explanation:

For issuance of an entry a single transaction is recorded that is work in process account is debited and materials inventory account is credited. In subsidiary ledgers job numbers are debited. For indirect Materials factory overhead is debited.

The  given data is as follows.

Requisition No.            Material         Job No.             Amount

103                                 Plastic              400                 $ 2,800

104                                 Steel                402                    24,000

105                                 Glue Indirect   1,620

106                                  Rubber             403                   3,200

107                                 Titanium           404                    31,600

The entry for materials requisitioned will be

A compound entry can be passed. In this the subsidiary ledger is not included.

Sr. No                  Particulars                                 Debit           Credit                                            

                   Work In Process                             61600

                Factory Overhead                               1620

               Materials Inventory                                                 63200

The one with a subsidiary ledger would look like this.

Sr. No                  Particulars                                 Debit           Credit

                                                      (Subsidiary)

1                     Work In Process                           61600

                                                  ( Job No 400)   2800

                                                   ( Job No 402)   24000

                                                    ( Job No 403)   3200

                                                    ( Job No 404)   31600

                Factory Overhead                               1620

               Materials Inventory                                                 63200

This is combined entry but separate entries can be passed as well .

Sr. No                  Particulars                                 Debit           Credit

                    Work In Process                           61600

               Materials Inventory                                                 61600

Sr. No                  Particulars                                 Debit           Credit

                  Factory Overhead                               1620

               Materials Inventory                                                   1620

Sr. No                  Particulars                                 Debit           Credit

                           (Subsidiary ledger)                

                            ( Job No 400)                          2800

                           ( Job No 402)                            24000

                           ( Job No 403)                             3200

                            ( Job No 404)                            31600

               Materials Inventory   Plastic                                      2800

               Materials Inventory   Steel                                        24000

                Materials Inventory    Titanium                                3200

                Materials Inventory     Rubber                                31600          

In each of the entries above materials inventory is credited.

3 0
3 years ago
Scarcity is the most basic problem in economics true or false
Rasek [7]
True.

I hope this helps! :)
5 0
3 years ago
Read 2 more answers
Other questions:
  • Corporate codes of ethical conduct: Select one: a. effectively deter unethical behavior. b. are sometimes viewed as thinly disgu
    7·1 answer
  • Nikolai knows that what his boss has asked him to do is not in the best interest of the company. He also knows that if he does n
    7·2 answers
  • Mrs. Martin tells some neighborhood kids that she will pay $100 if any of them mows her lawn. Jake goes to a hardware store, pur
    11·1 answer
  • "Girls Just Wanna Have Funds" is a Washington, DC, support group that consists mostly of young women who offer tips on budgeting
    11·1 answer
  • After 9/11, the demand for air travel fell substantially, bringing the airline industry to its knees. Congress wanted to compens
    5·1 answer
  • Do not have a fixed melting and boiling point.​
    13·1 answer
  • Since oligopolies can lead to either good or bad market outcomes, it is important to understand what strategic decisions firms w
    15·1 answer
  • Proverbial Corp. signed a 6-year note relating to the purchase of a new delivery fleet; annual payments are due at the end of th
    5·1 answer
  • If country A has a comparative advantage in the production of good X over country B, then: _______________
    5·1 answer
  • If a lender wants to yield 5% on a 4.25% fixed rate loan, then what fees should the lender charge?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!