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The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% (issued in 2002, due in 2022) $1,800,000 Preferred $10 stock, $50 par 88,500 Common stock, $5 par 398,250 Income before income tax was $396,000, and income taxes were $59,700, for the current year.
Cash dividends paid on common stock during the current year totaled $89,208. The common stock was selling for $32 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. a. Number of times bond interest charges are earned: b. Number of times preferred dividends are earned: c. Earnings per share on common stock: $ d. Price-earnings ratio: e. Dividends per share of common stock: $ f. Dividend yield.
create a 10- to 15-slide microsoftreg powerpointreg presentation of information about the fictional company you created
Define debt financing. What does the presence of debtfinancing in a firm's capital structure usually suggest? Whatis its purpose?
What balances would need to be considered in order to prepare the consolidation entry in connection with these intercompany bonds at December 31, 2008, the end of the first year of the intercompany investment?
The bonds are convertible into 30 shars of Haas $5 par value common stock for each $1,000 worth of bonds. On 12/31/08, after the bond interest has been paid, $20,000 face value bonds were converted. The market value of Haas common stock was $44 pe..
The records of Nevada Co. indicated that $420,000 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that $370,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage ..
Following is a list of events that occur throughout an audit examination. Indicate, using the correct letter, the time period during which these events are most likely to occur. An event may occur in more than one time period.
on january 1 2014 offshore corporation erected a drilling platform at a cost of 5420142. offshore is legally required
Evaluate the various accounting treatments for stock compensation and how do they relate to the practice of accounting and its uses in business.
A decrease in a firm's willingness to pay dividends is likely to result from an increase in its:
He uses the $5,700 standard deduction in computing taxable income for 2010. The personal exemption amount for 2010 is $3,650. Johnson Company is Ed's only source of income. Compute Ed's after-tax income if:
Furthermore,the penalties and interest charged on delinquent taxes exceed the interest charges on the tax anticipation notes.
becky is the owner of brooksone farm. on january 12007 the beginning of the companys fiscal year becky borrowed 750000
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