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Paul Company had 100,000 shares of common stock outstanding on January 1, 2009. On September 30, 2009, Paul sold 48,000 shares of common stock for cash. Paul also had 10,000 shares of convertible preferred stock outstanding throughout 2009. The preferred stock is $100 par, 6%, and is convertible into 3 shares of common for each share of preferred. Paul also had 500, 8%, convertible bonds outstanding throughout 2009. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at par. Reported net income for 2009 was $300,000 with a 40% tax rate. The regular common and preferred dividends were paid in 2009.
Compute basic earnings per share for 2009.
Find the share price of BHP Billiton(BHPBILL)for today.as?uming that no fees were paid,how many shares would you be able to buy with R20000?
In 2009, assume that you start with a salary of $100,000, will receive a 3% raise each year, and the interest rate expected will be 6%. You plan to retire in 40 years and draw retirement pay for 20 years.
The Dotson Company, owner of Bleacher Mall, charges Rich Clothing Store a rental fee of $600 per month plus 5% of yearly profits over $500,000. Matt Rich, the owner of the store, directs his accountant, Ron Hamilton, to increase the estimate of ba..
Murphy Corporation has the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Murphy Corporation has decided to use a method of measuring cost functions called the high-low method in this situa..
Explain the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
What important information, related to the accounting equation, is captured by accounting information systems? How does this information get translated to the financial statements? Is it necessary for the accounting information systems to record d..
Callaghan Motors' bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8 percent
From the standpoint of the stockholders of a company, the ratio that measures the overall performance of a company would be calculated using which of the following?
Why is accounting for contributions so critical for a not-for-profit entity? For example, what complications can arise if a donor places conditions on a pledged contribution or imposes restrictions on the use of the money by the organization? What..
Julie owns 100% and is an active participant in the rental real estate activity. What is Julies taxable income in 2010?
By reducing labor and other operating costs, the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:
On February 5, 2010, Tropical Connection Company, a garden retailer, purchased $25,000 of seed, terms 2/10, n/30, from Midwest Seed Co. Even though the discount period had expired, Lydia DeLay subtracted the discount of $500 when she processed the..
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