Answer:
c. $1.69 and $1.65
Explanation:
Calculation to determine Basic EPS
Using this formula
Basic EPS =Net income/Weighted average common shares outstanding
Let plug in the formula
Basic EPS = $7,121 / 4,221
Basic EPS = $1.69
Calculation for Diluted EPS
Using this formula
Diluted EPS=Net income/Weighted average dilutive shares
Let plug in the formula
Diluted EPS = $7,121 / 4,305
Diluted EPS = $1.65
Therefore Basic and diluted earnings per share were, respectively:$1.69 and $1.65
Answer:
$2100
Explanation:
Net loss = $5000
Taxable income = $15000
Tax rate = 21%
Fast Rocket's total tax for both years is determined by
Taxable income minus net loss multiplied by tax rate
= $(15000-5000) × 21%
= $10000 × 0.21
= $2,100
Fast Rocket's total tax for both years = $2100
Answer:
D) No No
Explanation:
Direct material cost and fixed overhead cost assigned to inventory, both are irrelevant in the decision to sell or throw out obsolete inventory because these costs are already incurred and treated as sunk cost.
Answer:
$44,700
Explanation:
The cost of the truck according to IAS 16 under IFRS would only include any cost incurred in bringing the asset to as location or state where it becomes available for use.
Given cost items;
cash price = $42,000
Accident insurance = $2,900
Sales taxes = $2,700
Motor vehicle license = $100
Painting and lettering = $400
From all the cost items stated above, the cost of the truck
= $42,000 + $2,700
= $44,700
Other cost elements will be expensed.
Answer:
Income before tax of $17,000,000
net income $12,750,000
Explanation:
Hobson income from continuing operations can be computed by eliminating transactions relating to discontinued operations from the details provided:
Income from continuing operations $215,000,0000
additional warranty expense ($70,000,000)
additional depreciation ($145,000,000)
non-deductible portion of advertising $17,000,000
income before tax $17,000,000
tax at 25%*$17 million ($4,250,000)
Net income $12,750,000
