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seraphim [82]
3 years ago
15

At December 31, 2017, Twin Rivers Company had 450,000 shares of common stock issued and outstanding, 350,000 of which had been i

ssued and outstanding throughout the year and 100,000 of which were issued on September 1, 2017. Net income for the year ended December 31, 2017, was $1,160,000. What should be Twin Rivers' 2017 earnings per common share, rounded to the nearest penny?
Business
2 answers:
Feliz [49]3 years ago
8 0

Answer:

3.033

Explanation:

Outstanding shares 350,000

Shares of common stock issued 450,000

Net income $1,160,000

Hence;

$350,000 X 8/12 = $233,333

$450,000 X 4/12 = $150,000

$233,333+150,000=$383,333

$1,160,000/ $383,333 = 3.033

Twin Rivers' 2017 earnings per common share, rounded to the nearest penny is 3.033

Mkey [24]3 years ago
8 0

Answer: 3.03

Explanation:

GIVEN the following ;

YEAR 2017:

Number of shares issued and outstanding throughout the year = 350,000.

Number of shares issued on September 1, 2017 (4 months to year end) = 100,000

Net income for the year (December 31, 2017) = $1,160,000

Earning per common share for the year 2017:

(Net income ÷Total Number of shares)

Total number of shares:

350,000 + 100,000 × (4÷12)

350,000 + 33333.3333 = 383333.33

$1,160,000 ÷ 383333.333 = 3.026

Earning per share = 3.03

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Valentin [98]

Answer:

Chronological

Explanation:

For accounting day to day business transactions, there is a proper sequence of accounting cycle i.e.

1. Transactions

2. Journal entries

3. ledger posting

4. Trial balance

5. Worksheet

6. Journal entries i.e. adjusted

7. Financial statements

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So it would be chronological

7 0
3 years ago
A company wants to identify which of two production methods has the smaller completion time. One sample of workers is randomly s
Marina CMI [18]

Answer:

A. Matched Samples

Explanation:

Matched samples is a situation whereby participants are paired, sharing every other characteristics except the one under investigation. The idea behind this is to have more control over unwanted variables. In this case, the study is measuring two production methods and in order to control the unwanted variable and leave only the characteristic or variable under investigation which is the production method, the two method is carried out by the same workers each.

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3 years ago
IBM signs an agreement to lend one of its customers $200,000 to be repaid in one year at 5% interest. IBM would record this loan
Olenka [21]

Answer:

B. Notes Receivable.

Explanation:

Since the company is signed an agreement for lending out of its customers for $200,000 that could be repaid in one year at 5% interest so it is not revenue not note payable and also not account receivable

Therefore it is a note receivable

Hence, the option b is correct

and, the same is to be considered and relevant

4 0
2 years ago
g An investment bank agrees to underwrite an issue of 5 million shares of stock for Longard Corp. (1). If the investment bank un
Genrish500 [490]

Answer:

Longard Corp.

The money that Longard Corp. receives is:

= $75 million.

Explanation:

a) Data and Calculations:

Number of shares issued = 5 million

Investment bank underwriter pays per share to Longard Corp = $15

Stock price to the public = $20 per share

Total amount received from the underwriter = $75 million ($15 * 5 million)

b) The calculations show that the investment bank will eventually receive $100 million ($20 * 5 million) from the public offer.  It then charges $5 per share (representing a total underwriting fee of $25 million).  This is why it remits only $75 million to Longard Corp.

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3 years ago
The faculty member on my study abroad trip to Costa Rica has traveled there many times and is quite knowledgeable about the coun
Sedbober [7]

Answer:

B. Expert power

Explanation:

Based on the information provided regarding this scenario it can be said that the faculty member was using Expert Power. Expert Power is defined as the use of expert knowledge in order to get a subordinate to follow an instruction or order. Which in this specific scenario, the faculty members unique knowledge and experiences regarding Costa Rica allowed the other faculty members to look to him for guidance when dealing with topics revolving around Costa Rica.

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3 years ago
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