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Diluted EPS Problem Net income for the Zipper Company in 2013 was $1,400,000. Zipper issued in 2012, at par, 75, $1,000, 8% bonds, each convertible into 100 shares of common stock. Zipper issued in 2011, 40,000 shares of 6% convertible, cumulative preferred stock, $100 par value. Each share is convertible into 1 share of common stock. Zipper had outstanding 1,000 options issued during 2012, each exercisable for one share at $8. None has been exercised. The average market price of the stock during 2013 was $20. Zipper's tax rate is 40%. Date Event Shares outstanding Jan 1, 2013 Beginning balance 180,000 March 1 Issued 60,000 shares June 1 Purchased 78,000 treasury stock Nov 1 Issued 120,000 shares Nov 15 Issued 2 for 1 stock split Required: Calculate Basic and Dilutive Earnings per Share (show all calculations) Use the treasury stock method for the options (if necessary).
A check correctly written and paid by the bank for $395 is incorrectly recorded on the company's books for $359. The appropriate adjustment on a bank reconciliation would be to?
When designing an information system, the designers are increasingly concerned with the risks associated with technology and information system. Write a memo to the Vice President explaining to him the general nature of risk.
The purpose of this assignment is to get a picture of the various roles managers play and the skills required to perform effectively in an accounting role.
How much inventory can Baker purchase without violating its debt agreement if their total current assets equal $15 million.
Sawyer Furniture Company concluded its first year of operations in which it made sales of $800,000, all on installment. Collections during the year from down payments and installments totaled $300,000. Purchases for the year totaled $400,000; the ..
Merchants Bank offers to lend you the $50,000, but it will charge 6.0%, simple interest, with interest paid at the end of the year. What's the difference in the effective annual rates charged by the two banks?
Effective January 1, 2008, for financial statement reporting, Baden decided to change to the straight-line method for depreciation of the machine. Assume that Baden can justify the change.
The yield to maturity on the company's outstanding bonds is 9 percent, and the company's tax rate is 40 percent. Percy's CFO has calculated the company's WACC as 9.96 percent. What is the company's cost of common equity?
On January 1, 2011, Ross Corporation issued bonds with a maturity value of $200,000; the bond's stated rate of interest equaled the market interest rate on the issue date.
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization.
What is" balance sheet exposure". When converting a balance sheet from one currency to another currency what rate do we use? Are all balance sheet accounts adjusted as of the balance sheet date?
Prepare the bank reconciliation for company.
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