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Paraphin [41]
2 years ago
11

At December 31, 2019, Bramble Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,506

shares $10,850,600 Common stock, $5 par, 4,024,760 shares 20,123,800 During 2020, Bramble did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $23,480,400 Discontinued operations (loss before taxes) $3,292,300 Preferred dividends declared $1,085,060 Common dividends declared $2,210,000 Effective tax rate 35 % Compute earnings per share data as it should appear in the 2020 income statement of Bramble Corporation.
Business
1 answer:
ale4655 [162]2 years ago
5 0

Answer:

The earnings per share for Bramble in 2020 is $2.99

Explanation:

This was arrived at by preparing income statement for 2020,where in the results from continued operations and discontinued were shown.

The income from continued operations attracted tax at 35% while the losses from the discontinued operations got a tax benefit at the same 35% tax rate.

Note that the earnings used in calculating earnings per share is net of preferred dividends as only earnings  attributable to ordinary shareholders are considered.

Find attached spreadsheet for the full blown income statement and the calculation of earnings per share.

Download xlsx
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Decentralized purchasing is the practice where individual, local purchasing departments throughout a single corporation make the
likoan [24]

Answer:

True

Explanation:

Decentralised purchasing also means the purchase of each manufacturing center necessity in the organisation. This method, instead of dropping buying power with a single branch,it would be given to regional offices or branches. They have the power to buy the items needed as per their demands. Acquiring in large quantities lowers the cost to the company.

3 0
3 years ago
A loan processor who is not required to perform her duties at the direction of or subject to the supervision and instruction of
lesya692 [45]

Leslee is a loan processor who is not required to perform her duties at the direction of or subject to the supervision. Leslee is an independent contractor.

An independent contractor is a self-employed person who is contracted in order to perform work for or provide services to another entity as a non-employee. Thus, independent contractors are not employees, nor are they eligible for employee benefits.

Here, as Leslee is a loan processor, so she is not required to perform her duties at the direction of or subject to the supervision and instruction of an individual who is licensed. As she is an independent contractor.

Hence, companies may also hire an independent contractor to do a job.

To learn more about independent contractor here:

brainly.com/question/20165285

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7 0
1 year ago
The real GDP of Country A grew by only 1% from 2011 to 2013, while the real GDP of Country B grew by 5% during that same time sp
Ray Of Light [21]

Correct answers: Country B will eventually have a higher real GDP than country A if the economy of each county continues to grow this way.

Incorrect answers: Country A has a high real GDP. Country A has a modestly high quality of life. Country A’s economy has been in a period of contraction. Country B has a very high quality of life. #Smokeweedeveryday

6 0
3 years ago
Investigating careers
goldfiish [28.3K]

B. It is a state of actual emergeny.

5 0
2 years ago
18. In the current year, Marc, a single taxpayer, has ordinary income of $35,000. In addition, he has $3,000 in short-term capit
Sergio039 [100]

Answer:

$36,000

Explanation:

The computation of the adjusted gross income for the present year is as follows:

= Ordinary income + short term capital gain - short term capital loss + long term capital gain

= $35,000 + $3,000 - $6,000 + $4,000

= $36,000

Hence, the adjusted gross income for the present year is $36,000

The same is relevant

5 0
3 years ago
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