Answer:
$1.12
Explanation:
Basic earnings per share is the standard calculation of the portion of a company's income that is earned or returned on one share of its common stock.
The formula for Basic Earnings Per Share is = Net Profit - Preference Dividend / Weighted Average Number of Shares
Weighted average number of shares can be obtained by multiplying the number of outstanding shares by the portion of the reporting period those shares covered.
Therefore applying the above to the scenario we have: 2000000/ [1500000+(500000*7/12)] = 2,000,000/1,791,667 = $1.12
Answer:
I would say the answer B. Change filtering settings.
The economy will start to decline.
Answer:
Inventory Dr.$5,540
Accounts Payable Cr.$5,540
(To record purchase of inventory from crane company credit basis)
No Entry for $3,390 as it is purchase cost of Crane and we are doing accounting entries for Larkspur Company not crane company.
Accounts Payable Dr.$670
Inventory Cr.$670
(To record purchase return)
No Entry is required for scrap value i.e $360 as we are returning the goods to seller not selling the said goods in open market.
Explanation:
Perpetual inventory takes care of bookkeeping more often by recording sales and purchase transaction as and when transaction occurs.
No entry is required for cost of purchase of crane company as we are doing accounting for larkspur company not crane company.Further scrap value is irrelevant when inventory is to be returned to crane company. If we had to sale the same inventory rather then returning the goods to crane then only we had to account for scrap value.