Determine ainsworth''s net loss per share

Assignment Help Accounting Basics
Reference no: EM13879775

1.On December 31, 2012, Ainsworth, Inc., had 600 million shares of common stock outstanding. Twenty million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2013. On April 30, 2013, Ainsworth purchased 30 million shares of its common stock as treasury stock. Twelve million treasury shares were sold on August 31. Ainsworth issued a 5% common stock dividend on June 12, 2013. No cash dividends were declared in 2013. For the year ended December 31, 2013, Ainsworth reported a net loss of $140 million, including an after tax extraordinary loss of $400 million from a litigation settlement.

Required:
1. Determine Ainsworth's net loss per share for the year ended December 31, 2013.
2. Determine the per share amount of income or loss from continuing operations for the year ended December 31, 2013.
3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2013 and 2012 comparative income statements. Assume EPS was reported in 2012 as $.75, based on net income (no extraordinary items) of $450 million and a weighted average number of common shares of 600 million.

Reference no: EM13879775

Questions Cloud

What should be the price of the security you are considering : what should be the price of the security you are considering purchasing?
Compute the accrued interest by the theoretical method : Compute the accrued interest by the theoretical method at 8.5% and also by the practical method. Find the split of the accrued interest by the theoretical method at 8.5% into interest and principal.
Discuss the causes and implications of the common mistakes : Discuss the causes and implications of the following common mistakes made by North Americans in their negotiations with international business partners: Assuming that a final agreement is set in stone
Explain what determines if a person is in the labour force : Describe the trends and fluctuations in the unemployment rate in Australia from 1980 to 2014 (the data can be downloaded from the Australian Bureau of Statistics).
Determine ainsworth''s net loss per share : 1.On December 31, 2012, Ainsworth, Inc., had 600 million shares of common stock outstanding.
What are the characteristics of a performance-driven team : What differentiates someone that is intrinsically motivated from someone that is extrinsically motivated - Give an example of how you would go about motivating an individual who is intrinsically motivated and one who is extrinsically motivated.
Explain how networking is used in conjunction : In an essay of 350-500 words, explain how networking is used in conjunction with public relations. Provide two examples of how successful entrepreneurs have used public relations and networking to their business' advantage
Lose money by selling your home within that time : Some think that the longer you stay in a house that you have financed, the better the investment. Is this true? Why, or why not? Is there a period of time when you would lose money by selling your home within that time? If so, how does that work?
What type of communication tool would you use : You have an idea to improve patient care that you would like upper management to support and fund - What type of communication tool would you use to present your idea and why?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the depreciation-straight-line method

Determine the depreciation for each of the three years, using the straight-line method, the double declining-balance method, the sum-of-the-years'-digits method, and the units-of-production method.

  At least three recommendations you can make within the

At least three recommendations you can make, within the context of law and ethics, so each company can improve its financial health.

  Prist co had not provided a warranty on its products but

prist co. had not provided a warranty on its products but competitive pressures forced management to add this feature

  Net present value method lo4 hamilton control systems will

net present value method lo4 hamilton control systems will invest 90000 in a temporary project that will generate the

  Determine the direct materials price variance

Determine the direct materials price variance, assuming that all materials costs are the responsibility of the materials purchasing manager.

  Compute accrual-basis net income

Of the amount paid, $30,000 was for expenses incurred on account in 2010. In addition, Leno incurred $142,000 of expenses in 2011 which will not be paid until 2012.

  On january 1 2011 pride co purchased 90 percent of the

on january 1 2011 pride co. purchased 90 percent of the outstanding voting shares of star inc. for 540000 cash. the

  Prepare a partial balance sheet for the company at

on december 31 2997 the company has 7m of short term debt inthe form of notes payable to the bank due in 2008. on

  Some co can further process product j to produce product d

some co. can further process product j to produce product d. product j is currently selling for 19.00 per pound and

  The prepaid insurance account had a 5000 balance on

a. three-fourths of the work related to 13000 cash recieved in advance is performed this period.b. wages of 8000 are

  At the beginning of the period the assembly department

at the beginning of the period the assembly department budgeted direct labor of 166500 and property tax of 12000 for

  Monthly financial statements

National Credit and Cash purchased a general liability insurance policy for $2,400 for coverage for the calendar year. The entire $2,400 was charged to Insurance Expense on January 2, 2010. If the firm prepares monthly financial statements, the pr..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd