Homework Help is Here – Start Your Trial Now!
Business
Accounting
At the beginning of 2025, Tamarisk Industries had 26,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025. Tamarisk had revenues of $145,000 and expenses other than interest and taxes of $109,000. Assume that the tax rate is 20% None of the bonds was converted or redeemed (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg 2.55) Earnings per share S (b) Assume the same facts as those assumed for part (al, except that the 500 bonds were issued on September 1, 2025 (rather than in a prior year), and none have been converted or redeemed Compute diluted earnings per share for 2025. Round answer to 2 decimal places, eg. 2.55) Earnings per share S (c) Assume the same facts as assumed for part (al, except that 100 of the 500 bonds were actually converted on July 1, 2025. Compute diluted earnings per share for 2025. Round answer to 2 decimal places, es 2.55)

At the beginning of 2025, Tamarisk Industries had 26,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025. Tamarisk had revenues of $145,000 and expenses other than interest and taxes of $109,000. Assume that the tax rate is 20% None of the bonds was converted or redeemed (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg 2.55) Earnings per share S (b) Assume the same facts as those assumed for part (al, except that the 500 bonds were issued on September 1, 2025 (rather than in a prior year), and none have been converted or redeemed Compute diluted earnings per share for 2025. Round answer to 2 decimal places, eg. 2.55) Earnings per share S (c) Assume the same facts as assumed for part (al, except that 100 of the 500 bonds were actually converted on July 1, 2025. Compute diluted earnings per share for 2025. Round answer to 2 decimal places, es 2.55)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format ?.

At the beginning of 2025, Tamarisk Industries had 26,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Tamarisk had revenues of $145,000 and expenses other than interest and taxes of $109,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg. 2.55) Earnings per share s (b) Assume the same facts as those assumed for part (a). except that the 500 bonds were issued on September 1, 2025 (rather than ina prior year), and none have been converted or redeemed. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg. 2.55) Earnings per share S (c) Assume the same facts as assumed for part (a) except that 100 of the 500 bonds were actually converted on July 1, 2025. Comoute diluted earnings per share for 2025. (Round answer to 2 decimal places, es 2.55) Earnings per share $
Transcribed Image Text:At the beginning of 2025, Tamarisk Industries had 26,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Tamarisk had revenues of $145,000 and expenses other than interest and taxes of $109,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg. 2.55) Earnings per share s (b) Assume the same facts as those assumed for part (a). except that the 500 bonds were issued on September 1, 2025 (rather than ina prior year), and none have been converted or redeemed. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, eg. 2.55) Earnings per share S (c) Assume the same facts as assumed for part (a) except that 100 of the 500 bonds were actually converted on July 1, 2025. Comoute diluted earnings per share for 2025. (Round answer to 2 decimal places, es 2.55) Earnings per share $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Earning per share and Dilutive securities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS