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marusya05 [52]
3 years ago
14

the 2020 income statement of wasmeier corporation showed net income of $480,000 and a loss from discontinued operations of $120,

000. Grouper had 100,000 shares of common stock outstanding all year.Prepare Grouper’s income statement presentation of earnings per share.
Business
1 answer:
kotykmax [81]3 years ago
7 0

Answer:

Wasmeier corporation grouper’s income statement presentation of earnings per share is given below.

Net income/(loss) from continued operation                 $480,000

Net income/(loss) from discontinued operations          ($120,000)

Consolidated Net income/(Loss)                                    $360,000

Basic EPS*                                                                           3.6

Dilutive EPS                                                                        3.6

Calculation:

EPS is calculated by dividing net profit with total outstanding common stock.

* EPS = 360,000/ 100,000 = 3.6 per share

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Robert Fogel is best known in suggesting for improvements in workers' health from better nutrition. Robert William Fogel is an economic historian who has awards in the Nobel Memorial Prize in economic sciences and another award in Bancoff prize. Fogel's work are the following: Railroads and American Economic Growth, Which roads to the past?, and the slavery debates.
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3 years ago
Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:
Dafna11 [192]

Answer:

COGS= $65,100

Explanation:

Giving the following information:

Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:

Work in Process, January 1 $ 53,800

Work in Process, December 31 38,900

Total Factory overhead 7,400

Direct materials used 14,400

Direct labor used 28,400

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 53,800 + 14,400 + 28,400 + 7,400 - 38,900= 65,100

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= $65,100

4 0
3 years ago
The public debt surpassed GDP during the 1940s 1950s 1960s 1970s 1980s 1990s early 2000s then fell steadily, reaching its lowest
ElenaW [278]

Answer:

The public debt as a percentage of GDP in the United States, reached its lowest point in recent decades, in 2001, when it represented 54.9% of GDP.

After that year, this indicator began to increase, at first slowly, and from 2007 on very rapidly, propelled in part by the financial crisis. In 2010, the public debt as percentage of GDP was 89.3%.

6 0
3 years ago
Preparing Entries Across Two Periods Hatcher Company closes its accounts on December 31 each year. On December 31, 2018, Hatcher
padilas [110]

Answer and Explanation:

The journal entries are shown below

On Dec. 31, 2018

Interest receivable $600  

         To Interest income $600

(Being accrued interest earned is recorded)  

On Dec. 31, 2018

Interest income $2,400  

            To Retained earnings $2,400

(Being the closing of interest income is recorded)

On Jan. 31, 2019

Cash $900  

         To Interest receivable     $600

         To Interest income          $300

(Being cash receipt of interest is recorded)

3 0
2 years ago
Minden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet as of April 30 is given be
Anettt [7]

Answer:(1a) schedule of cash collected $221,800, schedule of cash disbursement for merchandise purchase $118,900 (1b) cash budget closing balance $19,260 (2) Net income $26,410 (3) Balance sheet Total Asset $364,510, Total Liabilities &Equity $364,510

Explanation:

Schedule of cash collected

Sales. 257,000

Less:Cash sales. 77,100

------------

Credit sales. 179,900

Cash collected in May

Credit sales( 50% ) 77,100

Account Receivable 54,750

May sales (179,900 × 50%) 89,950

---------------

Total cash collected. 221,800

-------------------

Schedule of cash disbursements for merchandise

Cash paid for May purchases (121,000×40%) 48,400

Cash paid for April purchases. 70,500

--------------

Total purchase payment for May. 118,900

-----------------

Cash Budget

Opening balance. 9,600

Add: Receipt

Collection from customers 221,800

Bank loan. 22,000

--------------

Total cash available. 253,400

Less: Disbursements

Purchase payment 118,900

Selling Expenses. 83,700

Note payable. 18,100

Interest on Note payable 340

Purchase of refrigerating equipment 13,100

----------------

Total Disbursement. 234,140

----------------

Closing Balance. 19,260

----------------

Minden company

Budgeted income statements for the month of may

Sales. 257,000

Cost of good sold

Beginning inventory 53,750

Add: purchases. 121,000

---------------

Goods available for sale 174,750

Less: Ending inventory. 31,000

-------------

Cost of good sold. 143,750

----------------

Gross Margin. 113,250

Selling & Administrative Expenses

(83,700 + 2,800) 86,500

---------------

Net operating income. 26,750

Less: interest expense. 340

----------------

Net income. 26,410

------------------

Budgeted Balance sheet

Asset

Cash. 19,260

Account Receivable 89,950

Inventory. 31,000

Building & Equipment

Net of Deprecation.

(214,000 + 13,100 - 2,800) 224,300

-----------------

Total Asset. 364,510

------------------

Liabilities & Equity

Account Payable(121,000 × 60%) 72,600

Note payable. 22,000

Common Stock. 180,000

Retained Earnings( 63,500 + 26,410) 89,910

------------------

Total Liabilities & Equity. 364,510

------------------

8 0
3 years ago
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