The Granger Corporation had 200,000 shares of common stock and 10,000 shares of cumulative, $6 preferred stock outstanding during 2014 . The preferred stock is convertible at the rate of three shares of common per share of preferred. For 2014, the company had a $60,000 net loss from operations and declared no dividends. Granger should report 2014 diluted loss per share of (rounded to the nearest
cent)
a. $(0.30).
b. $(0.52).
c. $(0.58).
d. $(0.60).
B
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When you need to deliver bad news to your manager, you should ____.
A. deliver it in person B. send an e-mail C. draft it in a memo D. have a courier deliver it
When a new employee is hired and enrolled in the company benefits plan, this would involve using the human resources module
Indicate whether the statement is true or false
Identify which of the following statements is true.
A) Foreign taxes paid in excess of the foreign tax credit limitation can be carried back to the previous three tax years and then carried over to the succeeding five tax years. B) When a taxpayer reports excess foreign tax credits in more than one year, the excess credits are used in a last-in-first-out (LIFO) manner. C) Dividends generally are considered to be earned in the distributing corporation's country of incorporation. D) All of the above are false.
Ula purchased stock in Purple, Inc, 6 years ago for $150,000 . Purple has assets with a value of $225,000 ($175,000 basis) and liabilities of $60,000 . Purple transfers $200,000 of assets and all of its liabilities to White Corporation in exchange for White common stock. Purple distributes the White stock and its $25,000 remaining asset (cash) to Ula in exchange for all of her Purple stock
Purple then liquidates. How is this transaction treated for tax purposes? a. Ula recognizes a $15,000 gain on the exchange. b. Ula recognizes a $25,000 gain on the exchange. c. Ula recognizes a $25,000 gain and Purple recognizes a $25,000 gain on the exchange. d. Purple recognizes a $50,000 gain on the exchange.