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soldi70 [24.7K]
3 years ago
15

On December 31, 2020, the Bennett Company had 110,000 shares of common stock issued and outstanding. On July 1, 2021, the compan

y sold 22,000 additional shares for cash. Bennett's net income for the year ended December 31, 2021, was $630,000. During 2021, Bennett declared and paid $72,000 in cash dividends on its nonconvertible preferred stock. What is the 2021 basic earnings per share
Business
1 answer:
Alenkinab [10]3 years ago
8 0

Answer:

$4.61

Explanation:

Calculation to determine the 2021 basic earnings per share

Using this formula

2021 basic earnings per share=Net income-Cash Dividend/shares of common stock issued+(additional shares for cash*6/12)

Let plug in the formula

2021 basic earnings per share=$630,000-$72,000/110,000+(22,000*6/12)

2021 basic earnings per share=$558,000/110,000+11,000

2021 basic earnings per share=$558,000/121,000

2021 basic earnings per share=$4.61

Therefore the 2021 basic earnings per share is $4.61

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At an appliance store, the price of a refrigerator is marked up 25% to $406. 25. What was the price of the refrigerator before t
Triss [41]

The price of the refrigerator before markup will be $325. This can be calculated by reversing the markup in the price of the refrigerator.

<h3>What is Markup?</h3>

Markup basically refers to the difference between the selling price of a good and its cost. The markup is generally expressed as a percentage and is added to the cost of the good to ensure cost cover and earn profit.

For the given question, the before markup price can be calculated as:

Given:

\rm \:\:After\: markup\:price = \$406.25\\\\Markup\:percentage\:\: = 25\%

Makeup is the addition to the original price of a good. The after markup price can be taken as 100% + 25% = 125% of original price.

Then original price can be calculated as:

\rm x = \$406.25 \times \dfrac{100}{125}\\\\x = \$325

Therefore the before markup price is $325.

Learn more about markup here:

brainly.com/question/5189512

5 0
3 years ago
Assume Digby Corp. is downsizing the size of their workforce by 10% (to the nearest person) next year from various strategic ini
skad [1K]

Answer:

$318,240

Explanation:

Calculation to determine How much will the company pay in separation costs if these exit interviews are implemented next year

First step is to calculate the Seperation cost per employee

Seperation cost per employee=$5,000+$100

Seperation cost per employee=$5,100

Now let calculate How much will the company pay in separation costs

Total cost =(624*10%)*$5,100

Total cost =62.4*$5,100

Total cost =$318,240

Note that the Total Employee of 624 was given in Complement

Therefore The amount that the company will pay in separation costs if these exit interviews are implemented next year is $318,240

7 0
3 years ago
Outstanding debt of Home Depot trades with a yield to maturity of ​%. The tax rate of Home Depot is . What is the effective cost
nydimaria [60]

Answer:

5.6%

Explanation:

A lot of information is missing, so I looked for similar questions to fill in the blanks:

"Outstanding debt of Home Depot trades with a yield to maturity of 8%.

The tax rate of Home Depot is 30%.

What is the effective cost of debt of Home Depot?"

the effective cost of debt or after tax cost of debt = debt's yield to maturity x (1 - tax rate) = 8% x (1 - 30%) = 8% x 0.7 = 5.6%

Interest is tax deductible, therefore, it creates a tax shield that lowers net interest expense.

8 0
4 years ago
Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking
Debora [2.8K]

Answer:

The correct answer is Lead generation.

Explanation:

A contact or lead is any user of a web page that, at a given time, provides us with their data in a form, thus losing their condition of anonymous visit and becoming a contact on which to track.

Lead acquisition would be all those actions or processes focused on getting contacts with which to nourish our database. In an inbound marketing project it would consist of the Convert or Conversion phase.

Basic characteristics of a lead:

  • The only data that is absolutely essential is the email address.
  • It is also mandatory that these leads have previously accepted the company's privacy policy since otherwise it is not legally possible to track them and send them more communications.
5 0
4 years ago
Mathis Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxab
yanalaym [24]

Answer:

$900,000

Explanation:

The estimated litigation expense of $3,000,000 will be multiplied by the income tax rate for all the years which is 30%.

Hence,

($3,000,000 × 30%) = $900,000

Therefore the deferred tax liability to be recognized is:

$900,000

8 0
3 years ago
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