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Assume the following facts for the current year:
Net income
$200,000
Common dividends
$20,000
Preferred dividends (The preferred stock is not convertible.)
$10,000
Common shares outstanding on January 1
20,000 shares
Common stock issued on July 1 2-for-1 stock split on December 31
5,000 shares
Required
a. Compute the earnings per share for the current year.
b. Earnings per share in the prior year was $8.00. Use the earnings per share computed in (a) and present a two-year earnings per share comparison for the current year and the prior year.
Calculate all the possible variances for the year ended 31 December 2007 not yet calculated by the management accountant. Using your calculated variances and those of the management accountant, reconcile budgeted profit to actual profit or loss fo..
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Depreciation is a process of allocation and not valuation. What do you think is meant by this statement? Give examples to support your answer.
John has a 20% stake in the Partnership and receives no distributions from the partnership during the year. He has a $55,000 basis in her partnership interest at the end of the year after all income/loss items have been passed through to her. W..
During the year, the corporation completed a number of transactions affecting the stockholders' equity.
The end of year Account Payable is $30,000, and the beginning of year Account Payable is $10,000. If cost of goods sold for the year is $210,000,the amount of cash paid to suppliers is?
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the subsequent questions are based on the given data- direct materials standard 5 pounds per unit at 2 per pound-
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The common stock of Warner Inc. is currently selling at $115 per share. The directors wish to reduce the share price and increase share volume prior to a new issue.
Ending Inventory Calculation for each product & as a whole. Tanzy Company's ending inventory includes the following items. Determine the lower cost or market for ending inventory
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