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how to calculate earnings per share (EPS)

Question Hancock Company had 400,000 of common outstanding throughout year 2012 and issued another 100,000 on October 1, 2012. Net income for the year ended December 31, 2012, was $1,530,000. Hancock does not have any preferred stock outstanding. What is Hancock's 2012 basic EPS, rounded to the nea ... Read More

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how to calculate total number of shares used to compute diluted earnings per share (EPS)

Question Stine Inc. had 500,000 shares of common stock issued and outstanding at December 31, 2014. On July 1, 2015 an additional 500,000 shares were issued for cash. Stine also had stock options outstanding at the beginning and end of 2015 which allow the holders to purchase 150,000 shares of comm ... Read More

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which method is used to determine thevalue assigned to bonds issued with detachable commonstock warrants

Question Lang Co. issued bonds with detachable commonstock warrants. Only the warrants had a known market value. Based on what method should the company determine thevalue assigned to bonds issued? a. Face value method b. Proportional method c. Fair value method. d. Incremental method.   ... Read More

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whateffect the acquisition of treasury stock have onstockholders' equity and earnings per share

Question What effect will the acquisition of treasury stock have onstockholders' equity and earnings per share, respectively? a. Decrease and no effect b. Increase and no effect c. Decrease and increase d. Increase and decrease     ... Read More

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how to calculate interest revenue from held-to-maturity bonds

Question On January 3, 2012, Moss Co. acquires $400,000 of Adam Company’s 10-year, 10% bonds at a price of $425,672 to yield 9%. Interest is payable each December 31. The bonds are classified as held-to-maturity.Assuming that Moss Co. uses the effectiveinterest method, what is the amount of i ... Read More

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report on income statement as a result of the increase in fair value of the investments

Question In 2012, Trump Co. purchased two securities: one is classified as available-for-sale and the other as trading security. The purchase prices were $10,000 (AFS) and $20,000 (trading), respectively. The fair market value of the two securities were $15,000 (AFS) and $10,000 (trading), respecti ... Read More

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how to calculate ending balance of an investment

Question Harrison Co. owns 40% of the 50,000 outstanding shares of Taylor, Inc. common stock and uses the equity method to account for this investment. During 2013, Taylor earns. $1,200,000 and pays cash dividends of $960,000. If the beginning balance in the investment account was $750,000, the ba ... Read More

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how to calculate investment return of an investment

Question Harrison Co. owns 40% of the 50,000 outstanding shares of Taylor, Inc. common stock and uses the equity method to account for this investment. During 2013, Taylor earns. $1,200,000 and pays cash dividends of $960,000. Harrison should report investment income for 2013 of a. $480,000. b. ... Read More

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which valuation is a correct valuation

Question A correct valuation is a. available-for-sale at amortized cost. b. held-to-maturity at amortizedcost. c. held-to-maturity at fair value. d. None of these answers are correct.   ... Read More

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how to calculate annual revenue of a company

Question Cooper Construction Company had a contract starting January*3Q13, to construct a $12,000,000 building that is expected to be completed by the end of at an estimatedcost of $11,000,000. At the end of 2013. The costs to date were $5,060,000 and theestimatedtotal costs to complete had not cha ... Read More

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how to calculate annual gross profit of a company

Question Kiner, Inc. began work in 2012 on a contract for $12,600,000. Other data are as follows 21022103 Costs incurred to date                            & ... Read More

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how to calculate annual gross profit of a company

Question Carperter Company has used the instalment method of accounting since it began operations at the beginning of 2013. The following information pertains to its operations for 2013:   Installment sales              &n ... Read More

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