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lara [203]
3 years ago
15

Allen Lumber Company had earnings after taxes of $630,000 in the year 2009 with 370,000 shares outstanding on December 31, 2009.

On January 1, 2010, the firm issued 39,000 new shares. Because of the proceeds from these new shares and other operating improvements, 2010 earnings after taxes were 30 percent higher than in 2009. Earnings per share for the year 2010 were (R
Business
1 answer:
Firdavs [7]3 years ago
3 0

Answer:

$2.00

Explanation:

Since there was an increase of 30% from 2009, Allen Lumber Company's earnings after taxes for 2010 were:

E= 1.30*\$630,000\\E=\$819,000

The total number of shares in 2010 was:

n=370,000+39,000\\n=409,000

Earnings per share for 2010 are determined by dividing total earnings by the number of shares:

E_S=\frac{\$819,000}{409,000}\\E_S=\$2.00

Earnings per share for the year 2010 were $2.00.

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BabaBlast [244]

Answer: C) Without an anonymous reporting system, the company does not meet the minimum requirements for the protections of the Federal Sentencing Guidelines.

Explanation:

Based on the information given, it should be noted that since there's no anonymous reporting system, the minimum requirements for the protections of Federal Sentencing Guidelines isn't met by the company.

The Federal Sentencing Guidelines simply refers to the rules that with regards to the uniform policy through which the individuals and the organizations that have been convicted of felonies and every other misdemeanors are set up. In this case, the requirements hasn't been met since there is no anonymous reporting system.

7 0
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Marta_Voda [28]

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4 0
3 years ago
The following are selected 2020 transactions of Astin Corporation. Sept. 1 Purchased inventory from Encino Company on account fo
masya89 [10]

Answer:

inventory  50,000 debit

    accounts payable    50,000 credit

--to record purchase of goods--

accounts payable 50,000 debit

      notes payables      50,000 credit

--to record teh issued promissory note to setle the account--

cash                                  50,000 debit

discount on note payable 4,000 debit

  notes payable                            54,000 credit

--to record the discounted note--

Explanation:

a)  we record the purchase as always.

b) we are trading a liability for another. We do not receive for the note.

c) we discount on the note and we are goind to declare the interest expense at maturity or year-end against this discount.

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All of the following programs provide direct cash transfer except __.
zlopas [31]
My answer would be d.
6 0
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Question 1 of 10
Levart [38]

Answer:

D. Dividends Payable

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A dividend is not an expense, so there can never be a dividend expense account.

4 0
3 years ago
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