INTERMEDIATE ACCOUNTING
3rd Edition
ISBN: 9780136946694
Author: GORDON
Publisher: RENT PEARS
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Textbook Question
Chapter 20, Problem 20.9E
Computing Basic and Diluted EPS, Options, Warrants,
Required
- a. Based on this information, compute basic and diluted earnings per share for the current year.
- b. Prepare the earnings per share disclosure on the income statement beginning with net income.
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Students have asked these similar questions
You are computing annual earnings per share and required disclosures for
Garcia Fencing based on company-provided information. Net income is
$4,540,000.The weighted-average number of shares is 2,690,000. The year-end balance of outstanding shares is also 2,690,000. There are options outstanding all year to acquire 1,365,000 shares of common stock at $24 per share. The average price of the company's common stock is
$39 per share. The firm has 99,000 shares of $45 par value nonconvertible, noncumulative preferred stock outstanding as of the beginning of the year. The dividend rate is $1.60 per share. The board of directors declared the annual dividend. The company is subject to a
30% tax rate.
a.
Based on this information, compute basic and diluted earnings per share for the current year.
b.
Prepare the earnings per share disclosure on the income statement beginning with net income.
A. Applewood Electronics ltd reported net earnings of $ 500 000 for the year ending
December 31,2019. The company had 250 000 shares of $1 par value common stock and 60 000 shares of $20 par value convertible preference shares outstanding during the year. The dividend rate on the preference was $3 per share. Each share of the convertible preferences shares can be converted into two shares of common shares
Required:
Calculate for the firm:
i. the basic earnings per share for 2019.
ii. the diluted EPS. for 2019.
I need help with preparring a journal entry using the following.
Billy Bob Corporation issued 220,000 shares of $20 par value, 7% preferred stock on January 1, 2020, for $4,950,000. In December 2021, Billy Bob declared its first dividend of $800,000.
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Chapter 20 Solutions
INTERMEDIATE ACCOUNTING
Ch. 20 - Prob. 20.1QCh. 20 - Prob. 20.2QCh. 20 - If-Converted Method. Does the if-converted...Ch. 20 - Diluted EPS. If all potentially dilutive...Ch. 20 - Diluted EPS. Can diluted earnings per share on...Ch. 20 - Diluted EPS, Convertible Debt, and Preferred...Ch. 20 - Prob. 20.7QCh. 20 - Prob. 20.8QCh. 20 - Prob. 20.9QCh. 20 - EPS Disclosures. is an entity required to present...
Ch. 20 - Prob. 20.11QCh. 20 - Hutchins Company had 200,000 shares of common...Ch. 20 - Prob. 20.2MCCh. 20 - Prob. 20.3MCCh. 20 - Prob. 20.4MCCh. 20 - Refer to the information about Hutchins Company in...Ch. 20 - Prob. 20.6MCCh. 20 - Prob. 20.1BECh. 20 - Prob. 20.2BECh. 20 - Computing Income for Basic EPS. Russo Watches, Ltd...Ch. 20 - Prob. 20.4BECh. 20 - Compute Weighted-Average Number of Shares...Ch. 20 - Compute Weighted-Average Number of Shares...Ch. 20 - Prob. 20.7BECh. 20 - Prob. 20.8BECh. 20 - Prob. 20.9BECh. 20 - Prob. 20.10BECh. 20 - Prob. 20.11BECh. 20 - Computing Basic and Diluted EPS, Options. Nicks...Ch. 20 - Computing Diluted EPS, Convertible Debt. Axelon...Ch. 20 - Computing Basic and Diluted EPS, Preferred Stock....Ch. 20 - Computing Weighted-Average Number of Common Shares...Ch. 20 - Prob. 20.3ECh. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.5ECh. 20 - Computing Basic and Diluted EPS, Convertible Bonds...Ch. 20 - Computing Basic and Diluted EPS, Convertible Bonds...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Options,...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.12ECh. 20 - Prob. 20.1PCh. 20 - Prob. 20.2PCh. 20 - Computing Basic and Diluted EPS. Convertible...Ch. 20 - Prob. 20.4PCh. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Computing Basic and Diluted EPS, Convertible...Ch. 20 - Prob. 20.7PCh. 20 - Prob. 20.8PCh. 20 - Prob. 1JCCh. 20 - Prob. 1FSCCh. 20 - Prob. 1SSCCh. 20 - Basis for Conclusions Case 1: Antidilutive...Ch. 20 - Basis for Conclusions Case 2: Treasury Stock...
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