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Wiseman Electronics has an agreement with certain of its division managers that 50,000 contingently issuable shares will be issued next year in the event operating income exceeds $2.1 million that year. In what way, if any, is the calculation of EPS affected by these contingently issuable shares, assuming this year’s operating income was $2.2 million? $2.0 million?
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Chapter 19 Solutions
INTERMEDIATE ACCOUNTING W/CONNECT PLUS
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- Please give me answer general accounting questionarrow_forwardPlutonium Casting has 30 employees, who are distributed as follows: Design 6 employees Fabrication 2 employees Purchasing 2 employees Administration 10 employees Sales 10 employees The payroll-related costs for the year are $798,096. If Plutonium Casting does use departmental classification, how much is allocated to the Sales department? Note: Do not round intermediate calculations. Round final answer to 2 decimal places. Multiple Choice $53,206.40 $266,032.00 $159,619.20 $53,206.40arrow_forwardDuring May, Schultz Company produced 12,000 units of a product called Premium. Premium has a standard materials cost of three pieces per unit at $6 per piece. The actual materials used consisted of 35,000 pieces at a cost of $175,000. Actual purchases of the materials amounted to 45,000 pieces at a cost of $225,000. Compute the two materials variances.arrow_forward
- Caropola is a drilling company that operates an offshore Oilfield in Feeland. Five yearsago, Maine had a major oil discovery and granted licenses to drill oil to reputable,experienced drilling companies. The licensing agreement requires the company toremove the oil rig at the end of production and restore the seabed. 90% ofthe eventual costs of undertaking the work relate to the removal of the oil rig andrestoration of damage caused by building it and ten percent arise through theextraction of the oil. At the Statement of Financial Position date (December 312025), the rig has been constructed but no oil has been extractedOn January 1st 2023, Caropola obtained the license to construct an oil rig at a cost of$500 million. Two years later the oil rig was completed. The rig is expected to beremoved in 20 years from the date of acquisition. The estimated eventual cost is 100million. The company’s cost of capital is 10% and its year end is December 31st. This companyuses straight line…arrow_forwardPlease help. Mind that i also need the expense for 2025arrow_forwardAt the beginning of the year, manufacturing overhead for the year was estimated to be $945,600. At the end of the year, actual direct labor hours for the year were 40,000 hours, the actual manufacturing overhead for the year was $910,200, and the manufacturing overhead for the year was overapplied by $50,400. If the predetermined overhead rate is based on direct labor hours, then the estimated direct labor hours at the beginning of the year used in the predetermined overhead rate must have been _. Currect answerarrow_forward
- Anderson Technologies has 40,000,000 shares outstanding with a current market PPS of $30.25. If the firm has total assets of $750M, total liabilities of $250M, and net income of $480M, it would have a P/E of _ and a Market-to-Book ratio of _. General Accounting problem 2.4arrow_forwardThe first-quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 30, 2023. For the taxes, assume the second February payroll amounts were duplicated for the March 10 and March 24 payroll periods, and the new benefit elections went into effect as planned. The form was completed and signed on April 11, 2023. Benefit Information Exempt Federal FICA Health Insurance Yes Yes Life Insurance Yes Yes Long-term Care Yes Yes FSA Yes Yes 401(k) Yes No Gym No No Owner's name Address Phone Number of employees Gross quarterly wages (exclusive of fringe benefits) Federal income tax withheld 401(k) contributions Section 125 withheld Gym Membership (add to all taxable wages, not included above) Month 1 Deposit Month 2 Deposit Toni Prevosti 820 Westminster Road, Bridgewater, VT 05520. 802-555-3456 8 $ 36,673.30 $ 510.00 $ 1,427.46 $ 4,080.00 $ 90.00 $ 0.00 $ 2,171.62 Month 3 Deposit Required: $ 3,338.93 Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and…arrow_forwardAnderson Technologies has 40,000,000 shares outstanding with a current market PPS of $30.25. If the firm has total assets of $750M, total liabilities of $250M, and net income of $480M, it would have a P/E of _ and a Market-to-Book ratio of _. Accurate Answerarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
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