Answer the questions: True or False PLEASE NEED HELP ASAP 11. In calculating earnings per share,...
Answer the questions: True or False
PLEASE NEED HELP ASAP
11. In calculating earnings per share, companies deduct preferred dividends from net income if the dividends are declared. (T/F)
12. Data on earnings per share data are required on the face of the statement of retained earnings. (t/F)
13. Comprehensive income includes dividend revenue, losses on disposal of assets, and investments by owners. (T/F)
14. Unrealized gains on available-for-sale securities are included in comprehensive income. (T/F)
15. Selling expenses include transportation out, advertising expense, and office salary expense. (T/F)
Homework Answers
11)False, In EPS total earnings are taken without deducting any preference dividend.
12) False, Data on earnings per share data are required on the face of the income statement
13)False, it excludes investment by owners.
14)True, it is recorded in shareholders section
15)False, selling expenses include promotion, packaging expense. Office salary expense in not included therein
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Answer the questions: True or False
PLEASE NEED HELP ASAP
11. In calculating earnings per share,...
Answer the questions: True or False PLEASE HELP ASAP 4. Dividends declared on preferred stock are...
Answer the questions: True or False PLEASE HELP ASAP 4. Dividends declared on preferred stock are deducted from net income in the determination of earnings per share. True or False 16. Discontinued operations appear on the income statement but not on the statement of retained earnings. True or False 20. The impact of income taxes on discontinued operations is to reduce gains associated with the discontinuance, but increase the amount of losses. True or False
need help. asap. Thanks, will rate 5) The numerator in calculating camnings per share is reduced...
need help. asap. Thanks, will rate
5) The numerator in calculating camnings per share is reduced for A) Cumulative preferred dividends ONLY if declared. B) Common stock dividends. C) Non cummulative preferred dividends that are declared D) Common dividends. on the computation of earnings per share for the current
please help me to make corrections. thanks Information for 2020 follows for Swifty Corp.: Retained earnings,...
please help me to make corrections.
thanks
Information for 2020 follows for Swifty Corp.: Retained earnings, January 1, 2020 Sales revenue Cost of goods sold Interest income Selling and administrative expenses Unrealized gain on FV-OCI equity investments (gains/losses not recycled) Loss on impairment of goodwill Income tax on continuing operations for 2020 (assume this is correct) Assessment for additional income tax for 2018 (normal, recurring, and not caused by an error) Gain on disposal of FV-NI investments Loss from flood...
3 Need this solved asap please. help me with the proper solutions. Earnings per share Financial...
3
Need this solved asap please. help me with the proper
solutions.
Earnings per share Financial statement data for the years 2015 and 20Y6 for Black Bull Inc. follow: 20Y5 2016 Net income $1,366,000 $50,000 Preferred dividends $2,654,000 $50,000 120,000 shares Average number of common shares outstanding 70,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 2015 2016 Earnings per Share b. Is the change in the earnings per share from 2095...
E4.13 (LO 3) (Earnings per Share) At December 31, 2019, Shiga Naoya Corporation had the following...
E4.13 (LO 3) (Earnings per Share) At December 31, 2019, Shiga Naoya Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,500 shares $10,750,000 Common stock, $5 par, 4,000,000 shares 20,000,000 During 2020, Shiga Naoya did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $23,650,000 Discontinued operations (loss before taxes) $ 3,225,000 Preferred dividends declared $ 1,075,000 Common dividends declared $ 2,200,000 Effective tax rate 17% Instructions...
Answer the questions: True or False PLEASE NEED HELP ASAP 5. The major elements of the...
Answer the questions: True or False PLEASE NEED HELP ASAP 5. The major elements of the income statement are revenues, irregular items, and general expenses. (T/F) 6. The income statement reveals net earnings (net income) of a firm at a point in time. (T/F) 7. The gain or loss on disposal of a segment or component of the business should be reported as an unusual gain or loss. (T/F) 8. When a company discontinues an operation and disposes of the...
Need help calculating the earnings per share. The following is a partial trial balance for General...
Need help calculating the earnings per share.
The following is a partial trial balance for General Lighting Corporation as of December 31, 2018: Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Loss from write-down of inventory due to obsolescence Selling expenses General and administrative expenses Interest expense Debits Credits 2,900,000 91,000 28,000 1,300,000 310,000 410,000 205,000 90,000 200,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been...
Answer all questions as a formula Calculating eamings per share and dividends per share- Excel Sign...
Answer all questions as a formula
Calculating eamings per share and dividends per share- Excel Sign In REVIEW VIEW ME FORMULAS INSERT DATA PAGE LAYOUT A A Calbri 11 AAlignment Number Conditional Format as Cell Formatting Table Styles Editing Cells B IU Styles Font J H D G E C B Billy's Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 21 percent. The firm just paid...
Answer the question: True or False PLEASE HELP ASAP!! 1. Net income and owners’ equity are...
Answer the question: True or False PLEASE HELP ASAP!! 1. Net income and owners’ equity are both increased by gains and revenues. True or False 2. Single-step income statements do not portray either gross profit or income from operations as distinct lines within the statements. True or False 3. Discontinued operations and the associated gains and losses must be reported net of income taxes in the income statement. True or False
Please help! Stuck with the final numbers shown highlighted in red. Green highlighted cells means they're...
Please help! Stuck with the final numbers shown highlighted in
red. Green highlighted cells means they're correct.
Joe Schreiner, controller for Flounder Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. $ 357,000 193,000 164,000 FLOUNDER COMPANY INC. Income Statement...
need help. asap. Thanks, will rate
5) The numerator in calculating camnings per share is reduced for A) Cumulative preferred dividends ONLY if declared. B) Common stock dividends. C) Non cummulative preferred dividends that are declared D) Common dividends. on the computation of earnings per share for the current
please help me to make corrections.
thanks
Information for 2020 follows for Swifty Corp.: Retained earnings, January 1, 2020 Sales revenue Cost of goods sold Interest income Selling and administrative expenses Unrealized gain on FV-OCI equity investments (gains/losses not recycled) Loss on impairment of goodwill Income tax on continuing operations for 2020 (assume this is correct) Assessment for additional income tax for 2018 (normal, recurring, and not caused by an error) Gain on disposal of FV-NI investments Loss from flood...
3
Need this solved asap please. help me with the proper
solutions.
Earnings per share Financial statement data for the years 2015 and 20Y6 for Black Bull Inc. follow: 20Y5 2016 Net income $1,366,000 $50,000 Preferred dividends $2,654,000 $50,000 120,000 shares Average number of common shares outstanding 70,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 2015 2016 Earnings per Share b. Is the change in the earnings per share from 2095...
E4.13 (LO 3) (Earnings per Share) At December 31, 2019, Shiga Naoya Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,500 shares $10,750,000 Common stock, $5 par, 4,000,000 shares 20,000,000 During 2020, Shiga Naoya did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $23,650,000 Discontinued operations (loss before taxes) $ 3,225,000 Preferred dividends declared $ 1,075,000 Common dividends declared $ 2,200,000 Effective tax rate 17% Instructions...
Need help calculating the earnings per share.
The following is a partial trial balance for General Lighting Corporation as of December 31, 2018: Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Loss from write-down of inventory due to obsolescence Selling expenses General and administrative expenses Interest expense Debits Credits 2,900,000 91,000 28,000 1,300,000 310,000 410,000 205,000 90,000 200,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been...
Answer all questions as a formula
Calculating eamings per share and dividends per share- Excel Sign In REVIEW VIEW ME FORMULAS INSERT DATA PAGE LAYOUT A A Calbri 11 AAlignment Number Conditional Format as Cell Formatting Table Styles Editing Cells B IU Styles Font J H D G E C B Billy's Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 21 percent. The firm just paid...
Please help! Stuck with the final numbers shown highlighted in
red. Green highlighted cells means they're correct.
Joe Schreiner, controller for Flounder Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. $ 357,000 193,000 164,000 FLOUNDER COMPANY INC. Income Statement...
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