Clorox company is a leading manufacturer and marketer

Assignment Help Accounting Basics
Reference no: EM13879657

The Clorox Company is a leading manufacturer and marketer of consumer and institutional products with approximately 8,100 employees worldwide and fiscal year 2011 net sales of $5.2 billion. The following is an excerpt from the comparative income statements (beginning with earnings from continuing operations) from Clorox's 2011 annual report ($ in thousands):
381_270-B-A-S-E (743)-1.png

An income statement sometimes includes items that require separate presentation (net of income taxes) within the statement. The two possible separately reported items are discontinued operations and extraordinary items.

Clorox reports one of these items.

A disclosure note from Clorox's 2011 annual report is shown below:

1352_270-B-A-S-E (743)-2.png

Required:
1. The disclosure note shows adjustments for the dilutive effect of stock options and other. What other adjustments might be needed? Explain why and how these adjustments are made to the weighted average shares outstanding.
2. The disclosure note indicates that the effect of some of the stock options were not included because they would be antidilutive. What does that mean? Why not include antidilutive securities?
3. Based on the information provided, prepare the presentation of basic and diluted earnings per share for 2011, 2010, and 2009 that Clorox reports in its 2011 annualreport.

Reference no: EM13879657

Questions Cloud

What rate will you be quoted on the loan : Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? What is the effective annual rate you are paying? A 15-year corporate bond pays $40 interest every six month..
Summarize article-probability discounting of gain and losses : You will need to summarize and comment on the two following articles - Probability Discounting of Gains and Losses: Implications for Risk Attitudes and Impulsivity
What is plains overhead efficiency ratio : Plains National Bank has interest income of $250 million and interest expense of $110 million, noninterest income of $40 million and noninterest expense of $65 million on earning assets of $3,900 million. What is Plains' overhead efficiency ratio?
The value of your portfolio at the end of the year : Suppose you invest $20,000 by purchasing 200 shares of Abbott Labs (ABT) at $50 per share, 200 shares of Lowes (LOW) at $30 per share, and 100 shares of Ball Corporation (BLL) at $40 per share. Over the next year Ball has a return of 12.5%, Lowes has..
Clorox company is a leading manufacturer and marketer : The Clorox Company is a leading manufacturer and marketer of consumer and institutional products with approximately 8,100 employees worldwide and fiscal year 2011 net sales of $5.2 billion.
Analyze the current health care delivery structure in state : Analyze the current health care delivery structure in your state
Investment in subsidiary under the cost method : On January 1, 20X1, Parent Company purchased 80% of the common stock of Subsidiary Company for $316,000. On this date, Subsidiary had common stock, other paid-in capital, and retained earnings of $40,000, $120,000, and $190,000, respectively. Any rem..
Last payment at an annual effective rate of interest : Consider an annuity-due with 12 annual payments. The first payment is 4000 at time 0 and each subsequent payment decreases by 5%. Find the AV of this annuity 2 years after the last payment at an annual effective rate of interest i=6%.
What price was paid for the stock : A common stock is held for five years, during which time it receives an annual dividend of $5. the stock was sold for $110 and generates an average annual return of 14%. what price was paid for the stock?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Find the concentrations of x and y in a solution

Find the concentrations of X and Y in a solution

  When job 711 was completed direct materials totaled 28635

when job 711 was completed direct materials totaled 28635 direct labor 33688 and factory overhead 21897 respectively.

  Red runners work in process inventory account has a

red runners work in process inventory account has a beginning balance of 50000 and an ending balance of 40000. direct

  How does the accounting write-off of design and development

how does the accounting write-off of design and development costs as current period expenses affect managers incentives

  Inventories of a manufacturing business

INVENTORIES OF A MANUFACTURING BUSINESS

  Gross income with respect to bonds

Hugo was planting a tree when he unearthed 100,000 certificates of ITT bearer bonds, with a current value of $4 million.

  Cash and receivables journal entries

Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2012, it assigned, under guarantee, specific accounts amounting to $150,000.

  At the close of its first year of operations december 31

at the close of its first year of operations december 31 2007 linn company had accounts receivable of 540000 after

  Romtech company sold 43000 units of its product at a price

romtech company sold 43000 units of its product at a price of 300 per unit. total variable cost per unit is 175

  How to show a adjusted journal entire with this question on

how to show a adjusted journal entire with this question on november 1 the institute agreed to do a special five-month

  Legal and ethical issues simulation

Complete the Addressing International Legal and Ethical Issues simulation located on the student website.

  Violation of the partnership agreement

How might a partner withdrawing in violation of the partnership agreement and without the consent of the other partners be treated? What about a partner who is forced to withdraw?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd