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During 2009, the Ellis Corporation had 370,000 shares of $20 par common stock outstanding. On January 1, 2009, 2,000, 8 percent bonds were issued with a maturity value of $1,000 each. To enchance the bond sale, the company offered a conversion of 50 shares of common stock for each bond at the option of the purchaser. Net income for 2009 was $464,000. The income tax rate was 30 percent. Compute the diluted earnings per chare of common stock.
Disclosure usually is not required for: A) contingent gains that are probable and can be reasonably estimated. B) contingent losses that are reasonable possible and cannot be reasonably estimated.
Sherrod, Inc., reported pretax accounting income of $92 million for 2011. The following information relates to differences between pretax accounting income and taxable income:
Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial position of Smith Construction for April in the Excel Template.
S. Company exchanged 400 shares of Daily Company common stock, which Herman was holding as an investment, for equipment from West Company. What journal entry should Herman make to record this exchange?
Gilkey Corporation began the year with retained earnings of $155,000. During the year, the company issued $210,000 of common stock, recorded expenses of $600,000, and paid dividends of $40,000. If Gilkey's ending retained earnings was $165,000, wh..
Determine Lacy's pension expense for 2013.
The Illinois company manufacturers a product that goes through three processing departments.
from the e-activity in terms of which takes precedence and provides the most information evaluate the potential
During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.
When a fire truck purchased from General Fund revenues was received, the appropriate journal entry was made in the governmental activities general journal. What account, if any, should have been debited in the General Fund?
The company has no beginning or ending inventories. A total of 20,000 units were produced and sold last month. How many units would the company have to sell to attain the target profit of $150,000?
which of the accounting changes listed below is more associated with financial statements prepared in accordance with
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