Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. current attempt in progress in 2024, blossom ente

Current Attempt in Progress In 2024, Blossom Enterprises issued, at par, 60$1,000,8% bonds, each...

90.2K

Verified Solution

Question

Accounting

Current Attempt in Progress
In 2024, Blossom Enterprises issued, at par, 60$1,000,8% bonds, each convertible into 100 shares of common stock. Blossom had revenues of $17,800 and expenses other than interest and taxes of $10,000 for 2025.(Assume that the tax rate is 20%.) Throughout 2025,1,900 shares of common stock were outstanding; none of the bonds was converted or redeemed.
(a) Compute diluted earnings per share for 2025.(Round answer to 2 decimal places, e.g.2.55.)
Earnings per share $
(b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1,2025(rather than in 2024), and none have been converted or redeemed. Compute diluted earnings per share for 2025.(Round answer to 2 decimal places, e.g.2.55.)
Earnings per share $
(c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1,2025. Compute diluted earnings per share for 2025.(Round answer to 2 decimal places, e.g.2.55.)
Earnings per share $
image

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