Business, 24.02.2020 22:47 annagwhiteou0hrh
Dooley Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% convertible bonds outstanding during 20x1. The preferred stock is convertible into 40,000 shares of common stock. During 20x1, Dooley paid dividends of $1.20 per share on the common stock and $3.00 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 20x1 was $600,000 and the income tax rate was 30%
Basic earnings per share for 20x1 is (rounded to the nearest penny)
a. $2.50.
b. $2.70.
$2.73*.
$3.00.
Answers: 2
Business, 22.06.2019 02:20, unicornsflyhigh
Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a
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Business, 22.06.2019 07:30, cacaface311
Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)
Answers: 1
Business, 22.06.2019 19:20, natajayd
The following information is from the 2019 records of albert book shop: accounts receivable, december 31, 2019 $ 42 comma 000 (debit) allowance for bad debts, december 31, 2019 prior to adjustment 2 comma 000 (debit) net credit sales for 2019 179 comma 000 accounts written off as uncollectible during 2017 15 comma 000 cash sales during 2019 28 comma 500 bad debts expense is estimated by the method. management estimates that $ 5 comma 300 of accounts receivable will be uncollectible. calculate the amount of bad debts expense for 2019.
Answers: 2
Dooley Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,...
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