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Kay [80]
2 years ago
14

On January 2, 2021, Coronado Industries issued at par $298000 of 7% convertible bonds. Each $1,000 bond is convertible into 60 s

hares. No bonds were converted during 2021. Coronado had 106000 shares of common stock outstanding during 2021. Coronado's 2021 net income was $168000 and the income tax rate was 25%. Coronado's diluted earnings per share for 2021 would be:________ (rounded to the nearest penny)a. $5.18 b. $4.90 c. $4.67 d. $4.53
Business
1 answer:
Sliva [168]2 years ago
7 0

Answer: $1.48

Explanation:

Coronado's diluted earnings per share for 2021 would be calculated thus:

Net interest savings = ($298000 × 7%) × (1 - 25%)

= ($298000 × 0.07) × 75%

= $15645

Weighted average common stock outstanding will be:

= 106000 + (298000/1000 × 60)

= 106000 + 17880

= 123880

Therefore, Coronado's diluted earnings per share will be:

= ($168000 + $15645) / 123880.

= $183645/123880

= $1.48

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Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total as
11111nata11111 [884]

Answer:

Option (a) is correct.

Explanation:

Given that,

Sales = $700,000

Beginning total assets = $240,000

Ending total assets = $280,000

The asset turnover ratio refers to the ratio of sales to the average total assets.

Average total assets:

= (Beginning total assets + Ending total assets) ÷ 2

= ($240,000 + $280,000) ÷ 2

= $260,000

Therefore, the asset turnover ratio is as follows:

= Sales ÷ Average total assets

= $700,000 ÷ $260,000

= 2.69

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3 years ago
A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles,
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Answer:

a. The depreciable cost is $72000.

b. The depreciation rate is $0.36 per mile.

c. The depreciation expense for the year is $6480.

Explanation:

a.

The depreciable cost is the cost that is eligible for depreciation. It is calculated by deducting the residual value from the cost of the asset.

Depreciable cost = Cost - residual value

Depreciable cost = 80000 - 8000 = $72000

b.

The depreciation rate can be calculated by dividing the depreciable cost by the total estimated useful life of the asset.

The depreciable rate = 72000 / 200000 = $0.36 per mile driven

c.

The units of activity depreciation for the year is,

Depreciation expense = 0.36 * 18000 = $6480

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2 years ago
Why should we hire you? Is this a behavioral, situational,&/or job knowledge/worker requirement interview question
Ivenika [448]

Answer:

It's a behavioral and situational question.

Explanation:

4 0
2 years ago
If the expected sales volume for the current period is 7,500 units, the desired ending inventory is 263 units, and the beginning
pentagon [3]

Answer:

Total production for the current period is expected to be 7420 units.

Explanation:

The current production should be enough to meet the required units needed for the desired ending inventory and the units needed to meet the current sales after adjusting for the opening inventory of units that is available. Thu,s the current production requirement will be,

Production = Closing Inventory + Sales - Opening Inventory

Production = 263 + 7500 - 343

Production = 7420 units

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3 years ago
In a merger or acquisition, an asset should be acquired if it: is a firm in the same line of business in which the acquirer has
Scorpion4ik [409]

It generates a positive net present value to the shareholders of an acquiring firm.

<h3>Why Do Companies Merge With or Acquire Other Companies?</h3>

Mergers and acquisitions (M&As) are the acts of combining two or more companies or assets in order to stimulate growth, gain a competitive advantage, increase market share, or influence supply chains.

KEY LESSONS

  • Mergers and acquisitions (M&As) are the acts of combining two or more companies or assets in order to stimulate growth, gain a competitive advantage, increase market share, or influence supply chains.

  • A merger is the joining of two companies in which one of the companies ceases to exist after being absorbed by the other.

  • A merger occurs when one company acquires a majority stake in the target company, which keeps its name and legal structure.

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