Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3 nwp anh tow.com.mt-2.0-470-74 question 4 of 10 -

3 NWP Anh tow.com.mt-2.0-470-74 Question 4 of 10 -710 On June 1. 2018 Sheridan Comowy...

50.1K

Verified Solution

Question

Accounting

image
3 NWP Anh tow.com.mt-2.0-470-74 Question 4 of 10 -710 On June 1. 2018 Sheridan Comowy and Skyron Company merged to form Concord Inc A total of 2.0 shares were issued to complete the merger The new corporation reports on a calendar year basis On April 1, 2020, the company issued an additional 568.000 shares of stock for cash Al 1.376.000 shares were outstanding on December 31, 2020 Concord Inc also issued $600.000 of 20 year convertible bonds at parony 1, 2020. Each $1.000 bond converts to 44 shares of common at any interest date. None of the bonds have been converted to date Concordo in preparing its annual report for the fiscal year ending December 31, 2020. The annual report will show earninus per share figures based upon a reported after tax net income of 51,547.000 (The tax rate is 20%) Determine the following for 2020 (a) The number of shares to be used for calculating Mound answers to decine, s. 52,500) (1) Basic earnings pershare Share 121 Diluted earnings per share shares (b) The earninus figures to be used for calculating:Round answers to decimal plan, es $2.500) 11 Basic earnings per share $ $ (2) Diluted earnings per share 90 UU 80 BEN ***

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students