Answer:
The basic and diluted earnings per share for the year ended December 31, 2018 are $ 0.24 / Share and $8.89
/share respectively.
Explanation:
BASIC EPS CALCULATION
The preferred dividend = 30 million x $ 2/share
= 60 Million
Basic EPS = ( Net income - preferred dividends ) / weighted average common shares
= ($840 million - $ 60 Million ) / 100 million
= $ 0.24 / Share
DILUTED EPS CALCULATION
After-tax bond interest expense = $ 2.200 million x 10%
= $ 220 Million
$ 220 Million x (100 + 40%) = $ 308 Million after-tax interest expense.
Shares assume converted to common
Common Shares = 100 Million
Preferred stock = 40 Million
Convertible bonds = 17.0 Million
Total = 157 Million shares outstanding
Diluted EPS = ( $ 840 Million - $60 Million + $308 Million+ $ 66 Million ) / 157 million
= $8.89
/share
Therefore, The basic and diluted earnings per share for the year ended December 31, 2018 are $ 0.24 / Share and $8.89
/share respectively.
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Explanation:
The adjusting entry is as follows:
Supplies expense A/c Dr $370
To Supplies A/c $370
(Being supplies account is adjusted)
The Supplies expense is calculated below:
= Beginning Supplies balance + purchase an additional office supplies - supplies on hand
= $500 + $3,500 - $950
= $3,050
Simply we debited the supplies expense account and credited the supplies account for $3,050
Answer:A) an investment banker
Explanation: An investment banker is an individual who often works as part of a financial institution and is primarily concerned with raising capital for corporations, governments, or other entities.
