A corporation has 2,000 shares of $50 par, 10% preferred stock, and 6,000 shares of common stock outstanding. The net income for the year is $250,000 . The earnings per share of common stock would be
a. $10.83.
b. $31.25.
c. $40.00.
d. $41.67.
c
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Regulatory accounting principles are important to those outside the regulatory agencies because:
A. GAAP may allow reporting for assets and liabilities consistent with the way in which regulators establish rates. B. regulatory accounting principles are not compatible with GAAP. C. GAAP does not allow reporting for assets and liabilities consistent with the way in which regulators establish rates. D. the SEC requires them.
The U.S. current account deficit can be explained partially by
A. citizens of other nations wanting to avoid the dollar. B. American foreign policy in the Middle East. C. U.S. citizens exporting more than they are importing. D. citizens of other nations wanting to hold dollars, and invest in the U.S.
KRD Supplies Corporation provided the following information for the year
Beginning Balance-Work-in-Process Inventory $24,000 Ending Balance-Work-in-Process Inventory 58,000 Beginning Balance-Raw Materials Inventory 85,000 Ending Balance-Raw Materials Inventory 61,000 Purchases-Raw Materials 359,000 Direct Labor 470,000 Indirect Labor 21,000 Depreciation on Factory Plant and Equipment 24,000 Plant Utilities and Insurance 268,000 What was the amount of the manufacturing overhead costs? A) $313,000 B) $45,000 C) $292,000 D) $491,000
In a brief filed in Gene's suit against Hoyt in a federal court, Ilsa, Gene's attorney, cites, Jon v. Klint, an unpublished opinion. According to a ruling of the United States Supreme Court, the judge in Gene's suit
A. may consider the unpublished opinion persuasive. B. must apply the unpublished opinion as binding. C. must ignore the unpublished opinion. D. must issue a judgment in Hoyt's favor.