Tulip Corp has $1,000,000, 6%, nonconvertible bonds due in 2017 and $1,500,000, 3%, convertible bonds due in 2018. The basic earnings per share are $1.25 and the diluted earnings per share are $1.18. Based upon this information, Tulip must disclose
A) basic earnings per share because the convertible bonds are not dilutive.
B) basic earnings per share and dilutive earnings per share because the convertible bonds are dilutive.
C) basic earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet.
D) basic earnings per share and dilutive earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet.
B
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The implied warranty of merchantability is also known as the implied warranty of fitness for a particular purpose.
Answer the following statement true (T) or false (F)
In the confidence interval formula for sample size, the symbol r represents an estimate of:
A) the relationship between the p's and q's in the population B) the resolution of the population C) the robustness needed to have an accurate sample D) the restricted power of the sample E) none of the above; the formula has no r
Aquatic Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Aquatic uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: 4 pounds per unit; $6 per pound Direct labor: 2 hours per unit; $17 per hour During the first quarter, Aquatic produced 4000 units of this product. Actual direct materials and direct labor costs were $65,000 and $329,000, respectively. For the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 4000 units. A) $96,000 B) $65,000 C) $16,000 D) $24,000
Under the perpetual inventory system, the purchase of merchandise is recorded with a debit to Purchases
Indicate whether the statement is true or false