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Elan Coil [88]
3 years ago
11

The Fitness Studio, Inc.’s 2018 income statement lists the following income and expenses: EBIT = $776,000, interest expense = $1

50,000, and taxes = $219,100. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding. Calculate the 2018 earnings per share.
Business
1 answer:
boyakko [2]3 years ago
7 0

Answer:

$4.069 per share

Explanation:

Earning before tax:

= Earning before interest and tax - interest expense

= $776,000 - $150,000

= $626,000

Earnings available for equity shareholders:

= Earning before tax - Taxes

= $626,000 - $219,100

= 406,900

Earnings per share:

= Earnings available for equity shareholders ÷ No. of common stock outstanding

= 406,900 ÷ 100,000

= $4.069 per share

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Answer:

The journal entry for the issuance of the bond is shown below:

Explanation:

The entry to be posted on Jan 1

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As bonds issued, so cash is increasing and any increase in cash is debited. Therefore, the cash account is debited. But the bonds issued at a premium so the premium on the bonds payable will be credited. And bonds payable account is credited.

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Management is an important managerial skill, that helps to deal with the complex nature of modern work.

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Management involves a systematic process of planning, organizing, leading and controlling a set of people and organizations.

It involves,

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2 years ago
Given the following data, what is cost of goods sold as determined by the FIFO method?
Andrei [34K]

Answer:

The answer is D. $1,830

Explanation:

FIFO means First in First out.

It is one of the inventory methods along with LIFO(Last in First out), average weighted cost and specific identification.

FIFO literally means the inventory bought first will be the first to be sold. Leaving the last inventories bought as the ending inventory.

In this question, Cost of Sales according to FIFO is:

250 units x $6 = $1,500

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Total =. $1,830

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