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ASHA 777 [7]
3 years ago
10

Ahnberg Corporation had 560,000 shares of common stock issued and outstanding at January 1. No common shares were issued during

the year, but on January 1, Ahnberg issued 180,000 shares of convertible preferred stock. The preferred shares are convertible into 360,000 shares of common stock. During the year Ahnberg paid $108,000 cash dividends on the preferred stock. Net income was $1,060,000. What were Ahnberg's basic and diluted earnings per share for the year
Business
1 answer:
AnnyKZ [126]3 years ago
6 0

Answer:

Basic earnings per share = $1.7

Diluted earnings per share = $1.03

Explanation:

Basic earnings per share = (Net Income - preferred dividends)/Weighted average shares outstanding

Basic earnings per share = (1,060,000-108,000)/560,000

Basic earnings per share = $1.7

Diluted earnings per share = [Net Income - preferred dividend]/(outstanding shares+Diluted Shares)

Diluted earnings per share = (1,060,000-108,000) / (560,000+360,000 )

Diluted earnings per share = $1.03

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Firdavs [7]
Which of the following would normally involve long-term financing?

Purchase of modern equipment;
Long-term financing is used for major purchases that are financed for a time period greater than one year such as new product development, building or purchasing new facilities, and replacing capital equipment.
6 0
2 years ago
Required Information
il63 [147K]

Answer:

$1140.28

Explanation:

The computation of the net present value of this investment is shown below:-

= Annual Cash flows × Present Value of Annuity Factor (r , n) - Initial Investment

as

Annual cash flows = $8600

Present Value of Annuity Factor (r , n)

r = 10% and n = 4 years

So, the Present Value of Annuity Factor will be the sum of the present value of 4 years at 10%

For Year 1 = 0.9091

For Year 2 = 0.8264

For Year 3 = 0.7513

For Year 4 = 0.6830

Total = 3.1698

Therefore,

Net Present Value = (Cash inflow × Total) -

Initial Investment

= ($8600 × 3.1698) - $26,120  

= $27,260.28 - $26,120

= $1140.28

6 0
3 years ago
Even before Michelle could explain why a prospect had not purchased her company's new line of ecofriendly outdoor furniture, her
postnew [5]

Answer:

Informal feedback

Explanation:

In simple words, informal feedback relates to the feedback under which the feedback is not planned by either of the parties involved and the conversation regarding the review just happens occasionally unplanned. I

 Generally, In such feedback there is no exchange of information but one party dictates their view to the other. Hence, from the above we can conclude that the given case is an instance of informal feedback.

8 0
2 years ago
Which statement below best describes the accounting equation? Multiple Choice The change in retained earnings equals net income
8_murik_8 [283]

Answer:

The correct answer is Resources of the company equal creditors' and owners' claims to those resources.

Explanation:

It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.

4 0
3 years ago
Select the best answer for the question.
Lorico [155]

Answer:

QC

Explanation:

US dollar used to be backed by gold but this is not the case anymore. US dollar being as a flat currency is backed by governemnt through federal reserve.

6 0
3 years ago
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