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Question:
Peak Performance Inc. reported total income of $250,000 for the year ended December 31, 2009. Peak Performance Inc. had 40,000 shares of common stock outstanding throughout 2009. On July 1, 2008, Peak issued 5,000 stock options. Every stock option allows the holder to buy a share of stock for $10 and will be exercised after July 1, 2009. Several prices for the stock were as follows:
July 1, 2008 $ 9.00
January 1, 2009 9.50
December 31, 2009 12.50
Average price for 2009 10.87
Peak Performance has no preferred stock and a 30 percent income tax rate.
Required:
1. Evaluate the basic EPS and the diluted EPS for Peak Performance Inc. for 2009.
The Motor Vehicle Repair Fund ordered supplies at an predictable cost of $92,000 and the supplies ordered in (1) were received at invoice costs of $91,400; these invoices were approved for payment.
The balance sheet for the Bryan Corporation is shown below. Sales for the year were $3,680,000, with 75 percent of sales sold on credit and income statement for J. Lo Wedding Gowns, compute the following ratios:
Using the code of ethics for management accountants, evaluate the changes that Silverado's management is considering, and discuss the specific steps that Larry Stewart should take to resolve the situation.
Shiras Distributing Company had the following account balances - the company completed the following summary transactions.
Which of the subsequent properly portrays the components of net position for proprietary funds?
Find what fringe benefits are subject to this limitation and what fringe benefits escape this limitation?
Evaluate the relevant costs of the old machine and the new machine.
Convention center revenue would be sufficient to cover all expenses, including debt service.Yet, in its first five years of operation, the center consistently reported operating deficits.
Record the December business transactions on the cash receipt journal.
Except the stock sale is an integral part of the incorporation plan
What is the value of each partner's share of the business and what was the basis of your evaluation of the partners' share of the business?
What is the difference between the 10K, the 10Q and the 8K reports and how does each company value its inventory
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