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Lockdown co. has one class of common stock oustanding and no other securities that are potentially convertible into common stock. During 2019, 100, 000 shares of common stock were outstanding. In 2020, Two distributions of additional common shares occurred: On April1, 20, 000 shares of treasury stock were sold, and on July1, a 2-for-1 stock split was issued. Net income was 410, 000 in 2020 and 350, 000 in 2019.
Question 2: What amounts should Lockdown report as basic earnings per share in its 2019 and 2020, respevtively, comparative profit and loss statements?
Jeremiah paid the $2.5 million to acquire the raw materials when the raw materials were only worth $2.2 million. Assume that the purchase commitment was properly recorded. What is the journal entry to record the purchase?
the total amount of interest incurred by Clay during Year 8 was $102,000. Illustrate what amount should Clay report as capitalized interest at December 31, Year 8?
Determine the gross income of the beneficiaries in the following cases: Justin's employer was downsizing and offered employees an amount equal to one year's salary if the employee would voluntarily retire.
Pick a company from the Mergent database - Complete ratio analysis for the last fiscal year using at least two ratios
Does Hayden identify any gain or loss as a result of this distribution and evaluate Hayden's basis in the land, in the inventory, and in partnership interest immediately subsequent the distribution.
Which of the following are options to transform breakeven or loss customers into profitable ones?
Describe and compare the empirical performance of the borrowing ratio in assessing the effects of financial constraints on firms' employment decisions
XYZ Company sells $100,000 of bonds to private investors. The bonds are due in 10 years, and have a 5% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 6%. What proceeds does XYZ company receive from investors? What perio..
Poljak Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Prepare a report showing the school's revenu..
Totally 1 million shares were issued and subscribed fully. Entire amount is collected. How this transaction will appear in the financial statements?
(Purchase Commitments) At December 31, 2014, Indigo Girls Company has outstanding noncancelable purchase commitments for 36,000 gallons, at $3.00 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material..
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 40,000 direct labor-hours would be required for the period’s estimated level of production.
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