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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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 alt="16.5 Diluted Earnings per Share
In 2017, Crandall Organic Produce issued $1,000 par value, 8% convertible bonds with a 10-year term with the following stipulations:
1. Convertible for 10 shares of $10 par value common stock if exercised between January 1, 2017, and December 31, 2018.
2. Convertible for 15 shares of $10 par value common stock if exercised between January 1, 2019, and December 31, 2021.
3. Convertible for 25 shares of $10 par value common stock if exercised between January 1, 2022, and December 31, 2024.
4. Convertible for 40 shares of $10 par value common stock if exercised between January 1, 2025, and December 31, 2026.
When calculating the diluted EPS in 2020, what conversion factor should they use?
10 shares per bond
40 shares per bond
15 shares per bond.
25 shares per bond
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Transcribed Image Text:16.5 Diluted Earnings per Share
In 2017, Crandall Organic Produce issued $1,000 par value, 8% convertible bonds with a 10-year term with the following stipulations:
1. Convertible for 10 shares of $10 par value common stock if exercised between January 1, 2017, and December 31, 2018.
2. Convertible for 15 shares of $10 par value common stock if exercised between January 1, 2019, and December 31, 2021.
3. Convertible for 25 shares of $10 par value common stock if exercised between January 1, 2022, and December 31, 2024.
4. Convertible for 40 shares of $10 par value common stock if exercised between January 1, 2025, and December 31, 2026.
When calculating the diluted EPS in 2020, what conversion factor should they use?
10 shares per bond
40 shares per bond
15 shares per bond.
25 shares per bond
Save for Later
Submit Answer
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