Judgments are important in determining which type of estimates used by accountants? A. earnings per share...
Judgments are important in determining which type of estimates used by accountants?
A. earnings per share B. bad debt expense C. computation of gains and losses D. net income
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Judgments are important in determining which type of estimates
used by accountants?
A. earnings per share...
Chapter 19- Earnings per Share 95. A company with a simple capital structure would include which...
Chapter 19- Earnings per Share 95. A company with a simple capital structure would include which of the following in the computation of earnings per share? A) Convertible securities Number of shares of nonconvertible cumulative preferred shares C) Dividends on nonconvertible cumulative preferred shares D) Dividends on common shares B) Number Ans: C Difficulty: Medium Level of Learning: Knowledge Topic: LO2 96. DCE had 900 common shares outstanding on January 1, 20x3, issued 600 shares on May 1 and had...
In determining basic earnings per share for a year, dividends in arrears on cumulative preferred stock...
In determining basic earnings per share for a year, dividends in arrears on cumulative preferred stock should be Select one: O a. added back to net income whether declared or not. ОО b. disregarded. C. deducted from net income whether declared or not. d. deducted from net income only if declared.
In determining basic earnings per share, dividends on convertible cumulative preferred stock should be Select one:...
In determining basic earnings per share, dividends on convertible cumulative preferred stock should be Select one: O a. disregarded. O b. deducted from net income whether declared or not. O c. added back to net income whether declared or not. O d. deducted from net income only if declared.
Earnings per share is an important disclosure because... A: Net income disclosed in the financial statements...
Earnings per share is an important disclosure because... A: Net income disclosed in the financial statements can fluctuate based upon management's intentions B: It provides information relevant to the common shareholders C: It forces common and preferred shareholders to read the financial statements D: It uses net income
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...
Accountants very often are required to make estimates, and very often those estimates prove incorrect. In...
Accountants very often are required to make estimates, and very often those estimates prove incorrect. In what period(s) is the effect of a change in an accounting estimate reported? The correction of a material error discovered in a year subsequent to the year the error was made is considered a prior period adjustment. Briefly describe the accounting treatment for prior period adjustments. Define earnings per share (EPS). For which income statement items do you think EPS must be disclosed? Why?
Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting...
Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Marigold Company ($000 omitted). $5,150 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold 4,210 60,820 Rent revenue 17,480 Selling expense Delivery expense Sales commissions Depreciation of sales equipment Sales revenue 2,940 8,230 6,730 96,750 9,320 2,110 Income tax Interest...
21. Which of the following is not a true statement regarding stock options? a. They may...
21. Which of the following is not a true statement regarding stock options? a. They may cause dilution of earnings per share b. The exercise of stock options could result in either gains or losses c. They involve a compensation expense d. Exercise improves the short-term liquidity and debt position of the issuing firm e. They generally allow the purchase of common stock at favorable terms 22. The pricelearnings ratio: a measures the past earning ability of the firm. b....
Intermediate Accounting II Bus 203 Stockholders' Equity & Earnings Per Share REVIEW Which of the following...
Intermediate Accounting II Bus 203 Stockholders' Equity & Earnings Per Share REVIEW Which of the following transactions does not result in a decrease to retained earnings? a. Declaration of a cash dividend b. Payment of a cash dividend c. Incurrence of a net loss for the period d. A prior period adjustment (correction of an error) in which revenue was overstated 2. How should a loss from the sale of Treasury Stock be reflected in the accounts when using the...
5l) How is basic earnings per share computed? 5m)Under what conditions must diluted earnings per share...
5l) How is basic earnings per share computed? 5m)Under what conditions must diluted earnings per share be computed? How is diluted earnings per share computed? 5n)What is the difference between net income and comprehensive income? List one way in which comprehensive income can be disclosed in the financial statements.
Chapter 19- Earnings per Share 95. A company with a simple capital structure would include which of the following in the computation of earnings per share? A) Convertible securities Number of shares of nonconvertible cumulative preferred shares C) Dividends on nonconvertible cumulative preferred shares D) Dividends on common shares B) Number Ans: C Difficulty: Medium Level of Learning: Knowledge Topic: LO2 96. DCE had 900 common shares outstanding on January 1, 20x3, issued 600 shares on May 1 and had...
In determining basic earnings per share for a year, dividends in arrears on cumulative preferred stock should be Select one: O a. added back to net income whether declared or not. ОО b. disregarded. C. deducted from net income whether declared or not. d. deducted from net income only if declared.
In determining basic earnings per share, dividends on convertible cumulative preferred stock should be Select one: O a. disregarded. O b. deducted from net income whether declared or not. O c. added back to net income whether declared or not. O d. deducted from net income only if declared.
Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Marigold Company ($000 omitted). $5,150 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold 4,210 60,820 Rent revenue 17,480 Selling expense Delivery expense Sales commissions Depreciation of sales equipment Sales revenue 2,940 8,230 6,730 96,750 9,320 2,110 Income tax Interest...
21. Which of the following is not a true statement regarding stock options? a. They may cause dilution of earnings per share b. The exercise of stock options could result in either gains or losses c. They involve a compensation expense d. Exercise improves the short-term liquidity and debt position of the issuing firm e. They generally allow the purchase of common stock at favorable terms 22. The pricelearnings ratio: a measures the past earning ability of the firm. b....
Intermediate Accounting II Bus 203 Stockholders' Equity & Earnings Per Share REVIEW Which of the following transactions does not result in a decrease to retained earnings? a. Declaration of a cash dividend b. Payment of a cash dividend c. Incurrence of a net loss for the period d. A prior period adjustment (correction of an error) in which revenue was overstated 2. How should a loss from the sale of Treasury Stock be reflected in the accounts when using the...
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