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Marigold Corporation reported net income of $ 2 6 0 , 0 0 0 in 2 0 2 5 and had 1 9 1 ,
Marigold Corporation reported net income of $ in and had shares of common stock
outstanding throughout the year. Also outstanding all year were options to purchase common stock at
$ per share. The average market price of the stock during the year was $
Compute diluted eamings per share. Round answer to decimal places, eg
Dituted earnings per sha
On January Tamarisk Corporation issued $ of year, convertible debentures at Interest is to be paid
semiannually on June and December Each $ debenture can be converted into shares of Tamarisk Corporation $ par
value common stock after December
On January $ of debentures are converted into common stock, which is then selling at $ An additional
$ of debentures are converted on March The market price of the common stock is then $ Accrued interest at
March will be paid on the next interest date.
Bond premium is amortized on a straightline basis.
Make the necessary journal entries for:
a December
c March
b January
d June
Record the conversions using the book value method. List all debit entries before credit entries. Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the
amounts. Round answers to O decimal places, eg
No Date Account Titles and Explanation
Dec
a
Interest Expense
Premium on Bonds Payable
Cash
b Jan.
Bonds Payable
Premium on Bonds Payable
CommonStock
Paidin Capital in Excess of Par Common Stock
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