Compute the basic earnings per share and diluted earnings per share.

Q: Sarasota Inc. issued $4,170,000 of 10%, 10-year convertible bonds on June 1, 2020, at 97 plus…

A: Solution: When a bond is sold at a discount, the amount of the bond discount must be amortized to…

Q: On January 1, 2018, an entity purchased bonds with face amount of P5,000,000. The entity paid…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: On July 1, 2020, Tuttle Company had bonds payable outstanding with a face value of $350,000 and a…

A: Journal entries refers to the systematic documentation of the financial transactions of a company in…

Q: Waterway Inc. issued $15,400,000 of 12%, 40-year convertible bonds on November 1, 2020, at 98 plus…

A: a). Date Account title & Explanation Debit($) Credit($) December 31,2020 interest payable…

Q: 1. Determine the value to be assigned to the bonds and the warrants and prepare the journal entry to…

A:

Q: On January 1, 2021, a company issued 1,000 of its 8% 5-year P5,000 convertible bonds at P200,000…

A: The carrying amount of a bond is the amount that is payable to the holder of the bond by the issuer…

Q: On January 1, 2024, X Corporation purchased bonds of R Corporation for $52 million 6%, 10-year…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Information from the financial statements of Ames Fabricators, Inc., included the following:…

A: The calculation of basic earnings per share is as follows: Basic Earnings per share=Net…

Q: On March 1, 2021, Brown-Ferring Corporation issued $100 million of 12% bonds, dated January 1, 2021,…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: At the financial statement date of December 31, 2020, the liabilities outstanding of Chizkeyk Co.…

A: the liability of the company is the sum total of current ability and then on current liability the…

Q: On January 1, 2020, Alaska Corporation purchased P1,000,000 10% bonds for P1,051,510 (including…

A: Interest paid=Value of bonds×10%=P 1,000,000×10%=P 100,000

Q: On January 1, 2021, the Apex Company exchanged some shares of common stock it had been holding as an…

A: 1.

Q: On July 1, 2018, Ecolleague Co. purchased $3,000,000 of Swan Inc. 8% bonds, due on January 1,2020.…

A: Answer:-  Income statement meaning:- An income statement, is one of a company's financial statements…

Q: ,000, 5%, matures on Dec 31, 2025:                      $7,184,073 (See Note 1 below) Equity…

A: Retained earnings are a part of the owner's equity that shows the amount of earnings or profits that…

Q: On December 31, 2019, VENUS Company had 450,000 shares of ordinary shares outstanding. On September…

A: Basic EPS = net income/WACS WACS = weighted average common shares = common shares * time…

Q: On January 1, 2019, LEMON Company purchased bonds with face amount of ₱6,000,000 for ₱6,309,000. The…

A: Carrying value of bond = present value of all cashflows  Bond will mature December 31st, 2021 hence,…

Q: Farmer Company had the following share capital as of December 31, 2021: Bonds payable, P1,000 face…

A: Part A  If bonds were issued in the prior year at par value  Computation of BEPS & DEPS…

Q: On 1 June 2021, Double Tree Bhd. Issues RM7 million 7% redeemable preference shares at RM1 each,…

A: Preference shares is a portion of capital issued by the company with a fixed rate of dividend.…

Q: Stonewall Corporation issued $100,000 of 5%, 10-year convertible bonds. Each $1,000 bond is…

A: Journal entries are the primary reporting of the transactions in the books of an entity.

Q: An entity had the following securities outstanding as of December 31, 2021: 10% convertible bonds…

A: Basic EPS:- Basic EPS is a financial ratio which is derive by the net income divided by the share…

Q: On January 1, 2019, Ventionary issued bonds with an estimated value of 10 years, $ 3,000,000 (face…

A: Compute diluted earnings per share for 2019:  Formula: net income after tax saving / total…

Q: For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7%…

A: Solution Journal is the company's primary book in which all business transactions are recorded…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.