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slavikrds [6]
3 years ago
5

g On January 2, 2019, Shank Co. issued at par $300,000 of 9% convertible bonds. Each $1,000 bond is convertible into 60 shares.

No bonds were converted during 2019. Shank had 100,000 shares of common stock outstanding during 2019. Shank 's 2019 net income was $340,000 and the income tax rate was 30%. Shank's diluted earnings per share for 2019 would be (rounded to the nearest penny) Group of answer choices $3.04. $2.19. $3.26. $3.40. $2.29
Business
1 answer:
Softa [21]3 years ago
4 0

Answer:

$1.89.

Explanation:

diluted earnings per share = earnings attributable to common stockholder ÷ weighted average number of common stock holders

                                            = $340,000 ÷ (100,000 + 18,000)

                                            = $1.89

Shank's diluted earnings per share for 2019 would be $1.89.

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Which of the following companies is an example of a manufacturer? a. H&R Block b. Best Buy c. Intel d. Trism e. Walmart
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7 0
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If a company adds 60 new workstations at a cost of $100,000 each and also spends $20 million for addition in its camera/drone as
vredina [299]

Answer:

$1,300,000

Explanation:

Given:

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Cost of each workstation = $100,000

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5 0
3 years ago
A community organizer wants to convince state officials to create a universal preschool program so that all families with young
ch4aika [34]

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A 76-year old female with degenerative joint disease made an appointment with an orthopedic surgeon. The patient stated she has
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3 years ago
Yates Company shows the following unit costs for its product:
Molodets [167]

Answer:

b. greater under absorption costing than variable costing.

Explanation:

The question is to calculate the closing value of inventory and based on the choices, we need to calculate based on both the Absorption Costing and the Variable Costing Methods.

1. Closing Inventory based on Variable Costing Method

Direct Material                                $40

Direct Labour                                  $30

Variable Overhead                           $2

Fixed Overhead                                <u>$0 </u>(this method does not reecognise fixed cost

Totals (Unit cost of Production)     $72

Based on this, the closing inventory is $72 x (8,000+50,000-55,000 units)

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2. Closing Inventory based on Absorption Costing Method

Direct Material                                $40

Direct Labour                                  $30

Variable Overhead                           $2

Fixed Overhead                                <u>$5</u>

Totals (Unit cost of Production)     $77

Based on this, the closing inventory is $77 x (8,000+50,000-55,000 units)

=$77 x 3,000= $231,000

Based on these calculations:

The Ending Inventory is higher/Greater under absorption costing than variable costing and the reason is that variable costing does not recognize fixed cost in determining the value of ending inventory.

4 0
4 years ago
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