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Samuels, Inc. reported net income for 2011 is $105,000. During 2011 the company had 5,000 shares of $100 par, 5% preferred stock and 20,000 of $5 par common stock outstanding. Samuels' earnings per share for 2011 is A.$4.00 B.$5.25 C.$6.50 D.$5.00 Determine amount of dividends that preferred shareholders are entitled to: 5000*100*5% = 25,000 Step 2: Determine amount of earnings left over for common shareholders after the payment of preferred dividends: 105,000-25,000 = 80,000. Step 3: Use the EPS formula to determine EPS: EPS = Earnings available for common shareholders/common shares outstanding 80,000/20,000 = $4.00 Note: Another way of writing the EPS formula is as follows: (Net income - preferred dividends)/average outstanding shares.
Determine the amount at which the ovens should be recorded in Great Harvest's equipment account.
Several years ago Polar Inc. purchased an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar paid an amount corresponding to the underlying book ..
Allocation and proration of overhead. Tamden, Inc., prints custom marketing materials. The business was started January 1, 2010. The company uses a normal-costing system. It has two direct cost pools, materials and labor and one indirect cost pool..
What is the effect of high inherent risk on the amount of audit work required? Answer the same question for high control risk and high acceptable audit risk.
On April 1, 2005, Hofiani Company purchased a one year insurance policy for $3,600. What was the journal entry which Hofiani Company made on April 1, 2005?
Obtain at least two years of financial information pertaining to General Motors company from its most recent annual report (10-K).
The selling price was $83,000. There were no other transactions which affected the companies' land accounts during 2010. What is the consolidated balance for land on the 2011 balance sheet?
The Alperti Company manufactures surgical gowns for hospitals. Their controller, Ethell Hieken is preparing the variance analysis report for October. Standard Costs are as follows: What is the material price variance?
What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?
What is the distinction, as drawn by the GASB, between a fiduciary fund and a permanent fund? How should governments report permanent fund and fiduciary fund balances and income in their government-wide statements?
A bankruptcy case may begin with either a voluntary or an involuntary petition. What is the difference? What are the requirements for an involuntary petition?
The government-wide changes in net assets would be displayed as ??
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