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scoundrel [369]
3 years ago
14

The senior accountant for Carlton Co., a public company with a complex capital structure, has just finished preparing Carlton's

income statement for the current fiscal year. While reviewing the income statement, Carlton's finance director noticed that the earnings per share data has been omitted. What changes will have to be made to Carlton's income statement as a result of the omission of the earnings per share data
Business
1 answer:
Misha Larkins [42]3 years ago
7 0

Answer: b. Carlton's income statement will have to be revised to include the earnings per share data

Explanation:

The options to the question are:

a. No changes will have to be made to Carlton's income statement. The income statement is complete without the earnings per share data.

b. Carlton's income statement will have to be revised to include the earnings per share data.

c. Carlton's income statement will only have to be revised to include the earnings per share data if Carlton's market capitalization is greater than $5,000,000.

d. Carlton's income statement will only have to be revised to include the earnings per share data if Carlton's net income for the past two years was greater than $5,000,000.

From the question, we are informed that the senior accountant for Carlton Co., a public company with a complex capital structure, has just finished preparing Carlton's income statement for the current fiscal year and that while reviewing the income statement, Carlton's finance director noticed that the earnings per share data has been omitted.

The changes that will have to be made to Carlton's income statement as a result of the omission of the earnings per share data is that Carlton's income statement will have to be revised to include the earnings per share data.

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QS 7-10 (Algo) Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials, prepares the foll
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Part-1  Computation of Estimated Uncollectible - Dhaliwal

Account Receivable  (a% of uncollectible (b)Uncollectible amount (a*b)

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61 to 90 $14,000.00            6%                                  $840.00

over 90 $16,000.00          10%                               $1,600.00

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1 year ago
How to wear black formal shoes?
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3 years ago
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1 year ago
Rajesh Indian Market (RIM) is open 12 months out of the year. At RIM, the demand for rice is very consistent 200 pounds per mont
Paladinen [302]

Answer:

A. 566 pounds

Explanation:

Given: Demand for rice is very consistent= 200 pounds per month.

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           Carrying charge= 15%

EOQ: Economic order quantity (EOQ) is the number of units that company should include in their inventory with each order to reduce cost of inventory.

Now, calculating EOQ.

Formula; EOQ= \sqrt{\frac{2DP}{C} }

D= Demand in units for specified period.

P= relevant ordering costs per order.

C= Relevant carrying cost of one unit in stock for the time period used for D.

EOQ= \sqrt{\frac{2\times (50)(200\times 12)}{5\times 15\%} }

⇒ EOQ= \sqrt{\frac{2(50)(2400)}{5\times (0.15)} }

Opening parenthesis

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Hence, Economic order quantity is 566 pounds.

           

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3 years ago
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