Chapter 1, Problem 9.3EC

What was the original cost of fixed assets?

Financial accounting

Answer this question general accounting

What is the correct option? ? General Accounting question

What is the depreciation expense to be recorded on December 31, 2021 for this financial accounting question?

Original cost of fixed assets?

On Jan 1, Year 1, White Co grants its three top employees, Mr. Blue, Ms. Orange, and Mrs. Green, 3,000 options each to purchase its $10-par common stock. Each option allows the purchase of 10 shares at $25 per share during Years 3 and 4. In order for these options to be exercisable, each of the top employees must demonstrate a high level of performance during years 1 and 2. The fair market value of these options was $90,000. At that grant date, Mr. Blue declined the offer. How much will White record for compensation expense each year for years 1 and 2?

Yellow Co foresees the possibility of being unsuccessful in a lawsuit that may result in incurring a major loss associated with its related liability. Which of the following is correct? A If it is remote, and a guarantee was given, a disclosure is necessary, but not an accrual. B If it is probable, a disclosure is necessary, but not an accrual. C If it is probable, an accrual is necessary but not a disclosure. D If it is reasonably possible, neither accrual nor disclosure is necessary.

Amber Inc has 200,000 shares of $10-par common stock outstanding and 4,000 shares of $50-par 8% convertible preferred stock outstanding. For 2024, Amber reported net income of $700,000 after deducting income taxes at a 30% rate. If each share of preferred stock is convertible into 1 share of common stock, what would Amer report for diluted earnings per share?