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When computing the weighted-average number of shares outstanding during the year for the purpose of calculating diluted EPS, what is the proper treatment of a midyear issuance of securities convertible to common stock?
a) The issuance should be treated as having occurred at the beginning of the year.
b) No shares should be considered outstanding until the time of actual conversion.
c) A retroactive adjustment of the change in capital structure to the beginning of the earliest period presented is necessary.
d) Conversion is assumed to have occurred at the date of issuance.
Leah, Inc. has machinery with a cost of $100,000. The machinery has an estimated useful life of 10 years, and an estimated salvage value of $10,000. The machinery is expected to be able to produce a total of 1,000,000 units during its estimated li..
He does remember that the machine has a projected life of 12 years. Based on these data, the annual cost savings are:
Rubarb farms depreciates its assets at a faster rate for tax purposes than to GAAP financial statement purposes, and invest heavily in municipal bonds. in its first year of operation, the year ended Dec 31, year 1.
Which of the following statements is true? Once adopted, an accounting period normally cannot be changed without approval by the IRS.
Discus briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health care organization with which you are familiar with and it uses ABC model.
Make the necessary adjusting journal entries at December 31, 2007, and December 31, 2008 to record depreciation for each year under the following depreciation methods: (a.) Straight-line. (b.) Double-declining-balance
Jon Johnson an accountant with local CPA firm, has just completed an inventory count for Mom & Pop's Groceries. Mom and Pop provide audited financial statements to their bank annually, and part of that audit requires an inventory count.
An imaging center has the following information: Compute the total dollar contribution margin dollars and percentage.
Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.
Identify and explain 5 characteristics that may increase the possibility that financial statement fraud will occur in a company. Use examples to explain the company characteristics.
Set up the known information in a linear statement and find the missing cash sales by reversing the additive functions also complete an Accrual Income Statement.
A financial advisor tells you that you can make your child a millionaire if you just start saving early. You decide to put an equal amount each year into an investment account that earns 8% interest per year, starting on the day your child is born..
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