Answer:
$900,000
Explanation:
The first step is to calculate the percentage completed
= 600,000/2,000,000
= 0.3
The revenue can be calculated as follows
= 5,000,000 × 0.3
= 1,500,000
Therefore the gross profit for 2020 can be calculated as follows
=1,500,000 -600,000
= $900,000
Answer:
Diluted eps = $3 per share.
Explanation:
Outstanding shares = 100000 shares
Net income = $ 300000
Bond face value = $800000
Convertible in to shares = 16000 shares
tax rate = 40%.
we know that: diluted earning per share=( net income + after tax interest on convertible debt) / weighted average number of shares outstanding + diluted shares.
- After tax interest on convertible bond= 800000* 10% = $80000 interest.
$80000 * tax rate = 80000 * 40%= 32000.
After tax interest on convertible bond= 80000-32000= $48000.
= (300000 +48000)
/ (100000 + 16000)
= 348000/116000
= #3 per share.
C) there are not enough resources to produce all of the good and services that everyone wants.
Answer:
The retained earnings statement showed a closing retained earnings of $226,120.00 as at 2017 year end.
Explanation:
In arriving at the closing retained earnings , I treated prior items retrospectively- that is as if the impact of such items have been in the accounts from day one,less the tax effect of all items involved.
For instance ,I deducted the understatement of depreciation in 2015 less of tax impact of 40%
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