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At December 31, 2007, Benjamin Company had 700 shares of common stock outstanding. On September 1, 2008, an additional 300 shares of common stock were issued. In addition, Benjamin had $20,000 of 8 percent convertible bonds outstanding at December 31, 2007, which are convertible into 400 shares of common stock. No bonds were converted into common stock in 2008. Net income for the year ended December 31,2008, was $6,000. Assuming an income tax rate of 50 percent what would be the company's diluted earnings per share for the year ended December 31, 2008?
If the December 31 inventory is targeted at $41,500, budgeted purchases for the fourth quarter should be:
Prepare all journal entries in all funds and the GCA and GLTL accounts to record the following transactions and events.
Explain the problem with authority and resoning
A company manufactures a single product. During year 2012, a total of 20,000 units of this product were produced and 15,000 units were sold. The sales price was $20.00 per unit.
The Division is considering purchasing equipment for $40,000 that will increase sales by an estimated $10,000, with annual amortization of $10,000. If the equipment is purchased, what will happen to the return on investment for the division?
Gaines share. During the current year, 1,000 of these shares were reacquired for $20 each. 500 treasury shares are subsequently reissued at $25 per share.
Identify several areas in business operations where weakness in control over data may occur. Then, determine which can do the most harm to the organization. Provide your rationale.
Suppose the National Bank of Commerce has excess reserves of $12,000 and outstanding checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?
Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.
Which budgets are generally more expensive to maintain than single-period budgets because more time and effort is required in their preparation?
Excluding the cost of the machinery, additional operating costs are expected to be $15,000 per year. If the firm requires a minimum 12% return on its investment, what is the maximum price the company can pay for this equipment?
Variable costs as a percentage of sales for Leamon Inc. are 66%, current sales are $612,750. and fixed costs are $189,751. How much will operating income change if sales increase by $49,790?
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