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Sedbober [7]
3 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:
azamat3 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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Career readiness represents the extent to which you possess the ________ desired by employers.
ollegr [7]

Career readiness represents the extent to which you possess the <u>knowledge, skills, and attributes</u>  desired by employers.

<h3>What is Career readiness?</h3>

Career readiness can be defined as the way in which a person acquire or possess the necessary skills, knowledge that an employer desires an employee to posses.

Career readiness is essential for someone that want to build their career or the person that want to reach the highest peak of their career as this enable them to prepare ahead.

Therefore Career readiness represents the extent to which you possess the <u>knowledge, skills, and attributes</u>  desired by employers.

Learn more about Career readiness here:brainly.com/question/27841409

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8 0
2 years ago
Frank Fronton decided to become a professional jai alai player. In January, Fronton joined a jai alai club where he could train
belka [17]

Answer:

$6,300

Explanation:

The computation of expenses that can be deducted is shown below:-

Expenses that can be deducted = Fee paid for club after getting contract(for 5 months) + Replacement cost + Travelling

= ($1,000 × 5) + $500 + $800

= $6,300

Therefore for computing the expenses that can be deducted we simply add  Fee paid for club after getting contract, replacement cost and travelling and the rest amount is not relevant for computation.

6 0
3 years ago
Indirect labor and indirect materials are classified as factory overhead and product costs factory overhead and period costs ope
Dvinal [7]

Answer:

True

Explanation:

Product costs are the costs directly incurred from the manufacturing process. The three basic categories of product costs they are;

1) direct material

2) direct labour

3) manufacturing (factory) overhead.

Manufacturing overhead cost also include the following;

a) indirect labour: Indirect labor is the labor of those who are not directly involved in the production of the products.

b) indirect material: Indirect materials are materials that are used in the production process but that are not directly traceable to the product.

4 0
3 years ago
Sundance Systems has the following transactions during July.
inn [45]

Answer:

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

Jul-13 Dr Accounts Payable $ 113,400

Cr Cash $108,864

Cr Inventory $4,536

Jul-28 Dr Accounts receivables $ 134,400

Cr Sales revenue $ 134,400

Jul-28 Dr Cost of Goods Sold $108,864

Cr Inventory $108,864

Explanation:

Preparation of the journal entry to Record the transactions of Sundance systems, assuming the company uses a perpetual inventory system

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

(44 LCDs x $2700)

(Being to record inventory purchased on account)

Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

(2 LCDs x $2700)

(Being to record inventory returned that were defective)

Jul-13 Dr Accounts Payable $ 113,400

(42 LCDs x $ 2700)

Cr Cash $108,864

($ 113,400-$4,536)

Cr Inventory $ 4,536

(42 LCDS x $ 2700 x 4%)

(Being to record Amount paid within discount term of 10 days)

Jul-28 Dr Accounts receivables $ 134,400

[42 LCDs x $ 3200]

Cr Sales revenue $ 134,400

(Being to record Inventory sold)

Jul-28 Dr Cost of Goods Sold $108,864

(42 LCDS x $ 2700 x 96%)

Cr Inventory $108,864

(Being to record Cost of inventory sold adjusted)

4 0
2 years ago
A friend offers you a Coke, a Dr. Pepper, or a 7-Up. You don't like Coke, so after some thought, you take the Dr. Pepper. What i
Leokris [45]
<span>An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.</span>
4 0
3 years ago
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