Answer:
$8.25
Explanation:
The computation of basic earnings per common share is shown below:-
Dividend to be accrued on Preference shares = 11,000 × 100 × 5%
= $55,000
Earnings available to common share holders = $550,000 - $55,000
= $495,000
Basic Earnings per share = Earnings available to common share holders ÷ Shares of common stock
= $495,000 ÷ $60,000
= $8.25
Answer:
Thomson Co.
Journal entries:
May 1:
Debit Cash Account $240,000
Credit Bonds Payable $240,000
To record the issue of 10-year, 9% bonds at face value.
Nov. 9:
Debit Interest on Bonds $10,800
Credit Cash Account $10800
To record the payment of 6-months interest.
Dec. 31:
Debit Interest on Bonds $3,600
Credit Interest on Bonds Payable $3,600
To record two-months interest accrued.
Explanation:
The journal entries made by Thomson Co. are to record the bond transactions. For example, when the bonds were issued, cash was received. This transaction gives rise to a debit to the Cash Account that received the value and a credit to the Bonds Payable Account that gave the value. The bonds payable account represents the liability that is contracted by the bonds issue. Recording these transactions in the journal show their effects on the accounting equation that requires assets to be equal to liabilities and owner's' equity following each transaction.
Answer:
the answer's D, the energy expended to produce the product.
Explanation:
Trust, responsibility, and hardworking.
