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zysi [14]
3 years ago
9

Getaway Travel Company reported net income for 2016 in the amount of $50,000. During 2016, Getaway declared and paid $2,000 in c

ash dividends on its nonconvertible preferred stock. Getaway also paid $10,000 cash dividends on its common stock. Getaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1, 2016. A 2-for-1 stock split was granted on July 5, 2016. What is the 2016 basic earnings per share?
A. $.56B. $.53C. $.42D. $.47
Business
1 answer:
PSYCHO15rus [73]3 years ago
4 0

Answer:

Option (B) is correct.

Explanation:

Given that,

Net income = 50,000

Preferred dividend = 2,000

Outstanding common stock:

= (40,000 × 2) + (10,000 × 6/12 × 2)

= 80,000 + 10,000

= 90,000

2016 basic earnings per share:

= (Net income - Preferred dividend) ÷ Outstanding common stock

= (50,000 - 2,000) ÷ 90,000

= 48,000 ÷ 90,000

= $0.53 per share

Therefore, the 2016 basic earnings per share is $0.53.

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Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overh
vfiekz [6]

Answer:

cost of goods manufactured= $278,000

Explanation:

Giving the following information:

Direct materials: $40,000

Direct labor: $100,000

Manufacturing overhead applied: $120,000

Beginning Work in process inventory: $30,000

Ending Work in process inventory: $12,000

<u>To calculate the total manufacturing costs, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000

cost of goods manufactured= $278,000

4 0
3 years ago
The strength of patent protection is that it___________.
Tatiana [17]

The strength of patent protection is that it D) grants a monopoly on underlying concepts and ideas.

4 0
3 years ago
PLEASE HELP!!! I I WILL GIVE BRAINLY
Nina [5.8K]
I can guarantee that these are all 100% correct. Would appreciate if you gave me a Brainliest, thx!

1. Pay yourself first
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7 0
3 years ago
A bond with a $1,000 face value and a 10 percent annual coupon rate matures in 15 years. a. Determine the value of the bond to a
Licemer1 [7]

Based on the details given, the following are true:

  • a. Value of bond = $806.09
  • b. Your friend should invest in the bond with $1,000 face value

<h3>Value of Bonds </h3>

First find coupon:

= 10% x 1,000

= $100

Bond A

<em>= (Coupon x Present value interest factor of annuity, 13%, 15 years) + Face value of bond / ( 1 + 13%)¹⁵</em>

= ( 100 x 6.462) + (1,000 / 1.13¹⁵)

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In conclusion, Bond B is overvalued so your friend should pick Bond A.

Find out more on Bond price calculation at brainly.com/question/25365327.

8 0
2 years ago
Which of the following statements about job applications is false?
Ilia_Sergeevich [38]

Answer:

I would say it is A

Explanation:

i say this because everything is virtual now so therefore there are job applications online

5 0
3 years ago
Read 2 more answers
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