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Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/11. During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%.
Calculate
1. Earnings per share
2. Earnings per share assuming bond conversion
agency funds report assets and liabilities, but not net assets, revenues, or expenses. Briefly explain why this is so. For example, why would an agency fund not have revenue? Why would it not have expenses?
As stipulated, your company is having financial difficulty and has asked the bank to restructure its $3 million note outstanding. The present note has 3 years remaining and pays a current interest rate of 10%.
Give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders.
In your own words, what are the benefits of a decision tree plan that displays decision alternatives? As it is, there are expected values of decision alternatives As I understand it, it is beneficial for decision analysis problems.
First interest payment on October 1 , 2012 and amortization of bond premium for six months, using the straight line method. (Round to the nearest dollar.)
The contribution margin in the campus store is $110,000. Direct fixed costs are $90,000 in the downtown store and $93,000 in the campus location. How much are total variable costs?
If the estimate of loss from uncollectible accounts is based on sales, any existing balance in Allowance for Doubtful Accounts is added to the percentage of sales to determine the amount of the adjustment.
No Doubt Company includes one coupon in each box of soap powder that it packs and 10 coupons are redeemable for a premium (a kitchen utensil).
What is the amount of the low-income housing credit that Chris may claim in 2005 (assuming a rate of 7.96%)? What is the total amount of the credit that Chris may claim as a result of the $800,000 expenditure?
Upper Darby Park Department is assuming no tax consequences. If Upper Darby Park Department has a required rate of return of 10%, which of the following is closest to the present value of the project?
Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million
Patrice sells a parcel of land for $50,000 cash and the buyer assumes Patrice's liability of $7,000 on the land. Patrice's basis in the land is $40,000. What is the gain or loss she will recognize on the sale?
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