1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jenyasd209 [6]
2 years ago
11

Vent, Inc. reported net income of $770,000 for 20X1. Vent sold 15,000 shares of treasury stock acquired in a previous year on Ju

ly 1 and 15,000 new shares on November 1. At year-end, 180,000 shares were outstanding. Vent had 20,000 shares of $100 par value 7% preferred stock outstanding all year. Vent paid dividends to the preferred shareholders. 1. The weighted average number of common shares used to compute earnings per share for 20X1 is:_____.2. Calculate the basic earnings per share for 2015.3. If each share of preferred stock is convertible into 2 shares of common stock, what is the diluted earnings per share for 2015?
Business
1 answer:
gulaghasi [49]2 years ago
8 0

Answer:

1. Weighted average number of outstanding shares = 150,000*12/12 + 15,000*6/12 + 15,000*2/12

Weighted average number of outstanding shares = 150,000 + 7,500 + 2,500

Weighted average number of outstanding shares = 160,000 shares

2. Net income = $770,000

Preferred dividend = 20,000 shares*$100*7%

Preferred dividend = $140,000

Income attributable to common stockholders = Net income - Preferred dividend

Income attributable to common stockholders = $770,000 - $140,000

Income attributable to common stockholders = $630,000

Basic Earnings per share = Income attributable to common stockholders / Weighted average number of outstanding shares

Basic Earnings per share = $630,000/160,000

Basic Earnings per share = $3.94

3. Diluted EPS = Net income / [Weighted average number of common shares outstanding during the period + All dilutive potential common stock]

Diluted EPS = $770,000 / (160,000 + 20,000*2)

Diluted EPS = $770,000 / 200,000 shares

Diluted EPS = $3.85 per share

You might be interested in
Tercer reports the following for one of its products. Direct materials standard (4 lbs. $2 per lb.) Actual direct materials used
Natalka [10]

Answer:

Results are below.

Explanation:

Giving the following information:

Direct materials standard (4 lbs. $2 per lb.)= $8 per finished unit

Actual direct materials used (AQ)= 300,000

Actual finished units produced= 60,000

Actual cost of direct materials used= $535,000

<u>To calculate the direct material price and quantity variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 1.783)*300,000

Direct material price variance= $65,100 favorable

Actual price= 535,000 / 300,000= $1.783

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4*60,000 - 300,000)*2

Direct material quantity variance= $120,000 unfavorable

6 0
2 years ago
............................
Alenkasestr [34]

Answer:

.............................

Explanation:

7 0
3 years ago
St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production w
Ksju [112]

Answer:

$9,000 unfavorable

Explanation:

The computation of the total fixed overhead variance is shown below:

= Actual fixed overhead costs - Budgeted fixed overhead

where,

Budgeted fixed overhead  is $360,000

And, the Actual fixed overhead cost is computed below:

= Actual fixed overhead × Actual production  ÷ budgeted production

= $360,000 × 11,700 units ÷ 12,000 units

= $351,000

Now put these values to the above formula  

So, the value would equal to

= $351,000 - $360,000

= $9,000 unfavorable

5 0
2 years ago
You have been given $100 to go school shopping. Identify how you would spend the money based on “needs” and “wants”.
zhuklara [117]
Always buy what you need first groceries,things for school,ect. Then focus on your wants after that. Save alot too.
4 0
3 years ago
Read 2 more answers
Easy Brainlist...
alexandr402 [8]
108 for 97.2 because 97.2 divided by 108 is 0.89 and 108.16 divided by 102 is 1. 06 which is greater than .89
7 0
3 years ago
Other questions:
  • Which of the following would increase assets and increase liabilities?A. Provide services to customers on account.B. Purchase of
    12·1 answer
  • Suppose that increases in the money supply lead to a rise in stock prices. Does this mean that when you see the money supply has
    12·1 answer
  • Kirsty is going to open a jewellery business. which of the following production methods should she use job , batch or flow produ
    10·1 answer
  • On March 1, Wright Company purchased new equipment for $58,500 by paying cash. Other costs associated with the equipment were: t
    9·1 answer
  • You work for a company that always pushes the envelope with respect to reporting revenues and expenses. You often disagree with
    14·1 answer
  • You interview a random sample of 50 adults. the results of the survey show that 46​% of the adults said they were more likely to
    13·1 answer
  • Select _____ to apply formatting to several cells at the same time
    9·1 answer
  • Suppose a group of people read an article on capital punishment. Prior to reading the article, 60% of the members of the group w
    9·1 answer
  • The use of __________ has increased productivity along the assembly line and within service-based businesses while simultaneousl
    12·1 answer
  • Name and two factors that contribute to a detrimental​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!