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Use the information provided to calculate the basic and diluted share profit for 2020. Net income for the year 2020 = $240,000 Weighted average of
Use the information provided to calculate the basic and diluted share profit for 2020. Net income for the year 2020 = $240,000 Weighted average of joint shares in circulation for 2020 = 30,000 Dividend into cumulative preferred shares = $60,000 per year. In 2020 the company did not declare dividends. Bonds payable, convertible. Issued in 2016. They can be converted from 2022. They are convertible into a total of 15,000 common shares. Interest expense on bonds in 2020 was $60,000. The effective income contribution rate for 2020 = 25%.
Use the information provided to calculate the basic and diluted share profit for 2020.
Net income for the year 2020 = $240,000
Weighted average of joint shares in circulation for 2020 = 30,000
Dividend into cumulative preferred shares = $60,000 per year. In 2020 the company did not declare dividends.
Bonds payable, convertible. Issued in 2016. They can be converted from 2022. They are convertible into a total of 15,000 common shares. Interest expense on bonds in 2020 was $60,000.
The effective income contribution rate for 2020 = 25%.
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Managerial Accounting
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
1st Canadian Edition
978-0132490252, 132490250, 978-0176223311
