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Didde Co. had 300,000 shares of common stock issued and outstanding at December 31, 2014. No common stock was issued during 2015. On January 1, 2015, Didde issued 200,000 shares of nonconvertible preferred stock. During 2015, Didde declared and paid $75,000 cash dividends on the common stock and $60,000 on the preferred stock. Net income for the year ended December 31, 2015 was $465,000. What should be Didde's 2015 earnings per common share?
a. $1.55
b. $1.35
c. $1.30
d. $1.10
Net sales for the period was $45,000 and cost of sales was $28,000. Compute the gross profit percentage for the current year. What does this ratio measure?
David paid commissions of $2,000. How much gain or loss did David have on the sale in 2009?
Discussion around a topic is not answering the question. It is often a helpful technique to use the essay question as part of your essay structure.
Baker Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 13,600 units in its beginning work in process inventory that were 90% complete with respect to conversion costs.
If it wants to maintain a minimum current ratio of 2.0, illustrate what is the maximum additional short-term funding it can borrow?
Prepare an income statement, using the single-step form, and a statement of owner's equity using the data (below) from the ledger of Morrison Co. after adjustment at September 30, 2011
Which corporation is not eligible for consolidated return status?
The focus is on the concept of red flags and how we detect these inside a corporation. This is important, as the internal controls mechanism should define a specific approach for monitoring financial statements (and the base transactions below the co..
Evaluate the weighted-average number of shares used in earnings per share calculations?
Marks will be given on the soundness of your argument, research conducted, quality of report (presentation, referencing) and the understanding of the issues. Each report will be assessed individually.
What factors should an auditor consider before accepting a company as a new audit client? Why might an auditor not wish to continue a relationship with an existing audit client?
Evaluation of unit costs for materials and conversion costs based on equivalent units of production given production costs at beginning, for processing and at ending work-in-process stages
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