Answer:
$304,600
Explanation:
Break-even point = Fixed cost / Contribution margin
Break-even point = $121,840 / 0.4
Break-even point = $304,600
Therefore, the break-even point is $304,600
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Answer:
B) Interest receivable.
Explanation:
Since the note was received one month into its term (July 15 ⇒ August 15), it must be recorded with interest receivable for one month.
This means that Benet will record as interest revenue only three months of interest (August 15 ⇒ September 15 ⇒ October 15 ⇒ November 15), instead of four.
Answer:
Answer for the question:
Winona Company began 2019 with 10,000 shares of $10 par common stock and 2,000 shares of 9.4%, $100 par, convertible preferred stock outstanding. On April 2 and June 1, respectively, the company issued 2,000 and 6,000 additional shares of common stock. On November 16, Winona declared a 2-for-1 stock split. The preferred stock was issued in 2018. Each share of preferred stock is currently convertible into 4 shares of common stock. To date, no preferred stock has been converted. Current dividends have been paid on both preferred and common stock. Net income after taxes for 2019 totaled $109,800. The company is subject to a 30% income tax rate. The common stock sold at an average market price of $24 per share during 2019.
What amounts would Winona report the earnings per share on its 2019 income statement?
is given in the attachment.
Explanation: