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Sedbober [7]
4 years ago
11

The following information pertains to Torque Corp.'s outstanding stock for 2021: Common stock, $1 par value Shares outstanding,

1/1/2021 60,000 2-for-1 stock split, 4/1/2021 Shares issued, 7/1/2021 30,000 Preferred stock, $10 par value, 6% cumulative Shares outstanding, 1/1/2021 12,000How many shares should Torque use to calculate 2021 basic earnings per share?
Business
1 answer:
azamat4 years ago
7 0

Answer:

135,000 shares

Explanation:

The stock split is the re-denomination of the shares where the number of shares increases without a corresponding increase in shareholders' equity.For instance assigning two shares for each share had earlier with two new shares priced at the price of previous one share,however in calculating the number of shares applicable to basic earnings stock split is treated retrospectively,as if it has always been part of the company's shares

Opening number of shares                                         60,000

add increase due to stock split(2*60,000)-60,000   60,000

new shares half-way through the year 30,000*6/12   15,000

Weighted average number of shares                           135,000          

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Answer:

Consider the following explanation

Explanation:

The discussion started with Mr. Friedman explaining how the want and setting up on MNCs have become way more easier than it was a couple of decades ago. This is because the role of business in the society has increases. With increasing population the demand needs to be met on that level as well. Agreeing with the latter point Mr. Karthik said that yes, the demand needs to met but that should not make MNC and their setup easy. The quality according to him suffers.

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3 0
3 years ago
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales
mixer [17]

Answer:

b. $3,000

Explanation:

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So, after the adjustment by using allowance method, Bad debt expense can be calculated as;

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3 0
3 years ago
Sometimes employers discover evidence of employee ___ after someone has sued them for discrimination. Employers may try to use t
EastWind [94]

Answer:

The answers are,

1st Blank - a. harassment

2nd Blank - f. avoid

3rd Blank - e. limit

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Such lawsuits cannot be avoided by the employers but through legal means they can seek to mitigate or limit the damages they have to pay to the affected employee.

5 0
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lana [24]
6250 + 56 = 6250 price
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3 years ago
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
Reika [66]

Answer:

485,000 units

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