Intermediate Accounting
3rd Edition
ISBN: 9780136912644
Author: Elizabeth A. Gordon; Jana S. Raedy; Alexander J. Sannella
Publisher: Pearson Education (US)
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Question
Chapter 20, Problem 20.2P
a.
To determine
The value of basic and diluted earnings per share of the company.
Giveninformation:
Common shares outstanding are 320,000.
Additional shares issued on August 1 are 120,000 shares.
4% non cumulative preferred stock at the beginning of year is $920,000.
Outstanding shares of convertible options are 180,000 shares.
Effective tax rate is 40%.
Net income is $2,800,000.
b.
To determine
To prepare: The earnings per share disclosure on the income statement beginning with income of continuous operations.
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Chapter 20 Solutions
Intermediate Accounting
Ch. 20 - Prob. 20.1QCh. 20 - Prob. 20.2QCh. 20 - If-Converted Method. Does the if-converted...Ch. 20 - Diluted EPS. If all potentially dilutive...Ch. 20 - Diluted EPS. Can diluted earnings per share on...Ch. 20 - Diluted EPS, Convertible Debt, and Preferred...Ch. 20 - Prob. 20.7QCh. 20 - Prob. 20.8QCh. 20 - Prob. 20.9QCh. 20 - EPS Disclosures. is an entity required to present...
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