Homework Answers
Answer:
Diluted Earning Per Share= Adjusted Net Profit / Diluted Number of Shares
Diluted Earning per shares = 576000/470000
Diluted Earning per Shares =1.23/- per Shares Answer
Notes: It has been assume Net income Given in Question is After Adjusted Bond Interest.
if not Consider bond interest Answer is different.
Adjusted net Profit = 464000- 48000(Tax on interest on Bond 160000*30%)
= 4,16,000/
Diluted EPS is = 416000/470000
DEPS is =0.89/- Per Shares
Working Notes :
1) Adjusted Net Profit
Net Income = 4,64,000
Add: Interest on Bond = 1,60,000 ( 2000*10000*8%)
Less: Tax On interest on Bond = 48,000 ( 160000*30%)
Adjusted net Profit = 5,76,000/-
2) Calculation of Diluted Shares
Outstanding Shares 1 Jan. 2011 = 3,70,000
Add: Converted Shares = 1,00,000(2000 Bond Every Bond Give 50 Shares I.e. 2000*50)
Diluted Shares = 4,70,000/-
Add Answer to:
II-2. During 20x1, Ellis Corp. had 370,000 shares of $20 par common stock outstanding. On January...
During 2019, Dawson Manufacturing Company had 950,000 shares of common stock outstanding. On June 30, 2019,...
During 2019, Dawson Manufacturing Company had 950,000 shares of common stock outstanding. On June 30, 2019, the company issued 10,000, 7% convertible bonds at par. The maturity value of each bond is $1,000. Each bond is convertible into 20 shares of common stock. None were converted during 2019. Dawson also had 60,000 stock warrants outstanding for all of 2019. The option price is $10 per share. The market price of the common stock was $40 on December 31, 2019, and...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
Ignatius Corporation had 13 million shares of common stock outstanding during the current calendar year. It...
Ignatius Corporation had 13 million shares of common stock outstanding during the current calendar year. It issued 24,000, $1,000, convertible bonds on January 1. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually at an annual rate of 12%. On June 30, Ignatius issued 240,000 shares of $100 par 6% cumulative preferred stock. Dividends are declared and paid quarterly. Ignatius has an effective tax rate of 40%. Ignatius...
On January 1, Ayayai Corp. had 61,000 shares of no-par common stock issued and outstanding. The...
On January 1, Ayayai Corp. had 61,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. 1 Issued 9,450 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 4,200 additional shares of common stock for $11...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Paul sold 55,000 shares of common stock for cash. Paul also had 13,500 shares of convertible preferred stock outstanding throughout 2018. The preferred stock is $100 par, 7%, and is convertible Into 3 shares of common for each share of preferred. Paul also had 570,9%, convertible bonds outstanding throughout 2018. Each $1,000 bond is convertible Into 30 shares of common stock....
On January 1, 2018, Oriole Corp. had 461,000 shares of common stock outstanding. During 2018, it...
On January 1, 2018, Oriole Corp. had 461,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 124,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 104,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 61,000 shares of treasury stock The weighted-average number of shares outstanding: 1703650 Assume that Oriole Corp. earned net income of $3,325,000 during 2018. In...
On January 1, 2021, Stellar Corp. had 474,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Stellar Corp. had 474,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 1745700...
On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock The weighted-average number of shares outstanding enter the weighted-average number of shares outstanding as of December 31, 2021 is...
January 1, 2021, Flint Corp. had 502,000 shares of common stock outstanding. During 2021, it had...
January 1, 2021, Flint Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock Assume that Flint Corp. earned net income of $3,605,000 during 2021. In addition, it had 104,000 shares of 9%, $100...
On January 1, 2021, Sarasota Corp. had 478,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Sarasota Corp. had 478,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 102,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock a- Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding...
During 2019, Dawson Manufacturing Company had 950,000 shares of common stock outstanding. On June 30, 2019, the company issued 10,000, 7% convertible bonds at par. The maturity value of each bond is $1,000. Each bond is convertible into 20 shares of common stock. None were converted during 2019. Dawson also had 60,000 stock warrants outstanding for all of 2019. The option price is $10 per share. The market price of the common stock was $40 on December 31, 2019, and...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
Ignatius Corporation had 13 million shares of common stock outstanding during the current calendar year. It issued 24,000, $1,000, convertible bonds on January 1. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually at an annual rate of 12%. On June 30, Ignatius issued 240,000 shares of $100 par 6% cumulative preferred stock. Dividends are declared and paid quarterly. Ignatius has an effective tax rate of 40%. Ignatius...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Paul sold 55,000 shares of common stock for cash. Paul also had 13,500 shares of convertible preferred stock outstanding throughout 2018. The preferred stock is $100 par, 7%, and is convertible Into 3 shares of common for each share of preferred. Paul also had 570,9%, convertible bonds outstanding throughout 2018. Each $1,000 bond is convertible Into 30 shares of common stock....
Most questions answered within 3 hours.
-
suppose a research organization conducts of annual expenditures.
The sampling bias of one sort or another...
asked 5 minutes ago -
A positive charge traveling along a magnetic field experiences
no magnetic force (True,False)
asked 13 minutes ago -
Propose a mechanism for the photoreduction of acetaphenone. How
many products can be formed? Draw their...
asked 11 minutes ago -
Fogerty Company makes two products—titanium Hubs and Sprockets.
Data regarding the two products follow:
Direct
Labor-Hours...
asked 15 minutes ago -
The correct answer will be upvoted with positive feedback,
giving me incorrect answers will result in...
asked 44 minutes ago -
Question:
Evaluation: Answer both (a) and (b): (a) Looking at
Table 6.1 in our text, explain...
asked 53 minutes ago -
What is the maximum number of edges that a graph on 7 vertices can
have if...
asked 1 hour ago -
Question 05
(a) i) What are the three type of general defects in welding?
ii) Explain...
asked 59 minutes ago -
If the wage rate increases from $12 to $16 and, as a result, the
quantity demanded...
asked 1 hour ago -
the slime layer external to the prokaryotic cell wall is called
the ?
asked 1 hour ago -
Cheyenne Company must decide whether to make or buy some of its
components. The costs of...
asked 1 hour ago -
What is the entropy change for mixing 1 liter of a monoatomic
ideal gas (call it...
asked 1 hour ago