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Morgarella [4.7K]
2 years ago
9

Getaway Travel Company reported net income for 2021 in the amount of $50,000. During 2021, Getaway declared and paid $2,000 in c

ash dividends on its nonconvertible preferred stock. Getaway also paid $10,000 cash dividends on its common stock. Getaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1, 2021. A 2-for-1 stock split was granted on July 5, 2021. What is the 2021 basic earnings per share? (Round final answers to 2 decimal places.
Business
1 answer:
Ad libitum [116K]2 years ago
7 0

Answer:

$0.53 per share

Explanation:

The computation of basic earnings per share is shown below:-

Basic earnings per share = (Net income - Preferred dividend) ÷ (Outstanding common stock)

= ($50,000 - $2,000) ÷ (40,000 × 2) + ($10,000 × 6 ÷ 12 × 2)

= $48,000 ÷ (80,0000 + $10,000)

= $48,000 ÷ $90,000

= $0.53 per share

Therefore for computing the basic earnings per share we simply applied the above formula.

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se the PACED decision-making process to make the decision for Brent. Show your work

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Minnetonka Company leases an asset. Information regarding the lease:
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Answer: The options are given below:

A. Short term.

B. Operating.

C. Long

D. Finance.

The correct option is D. Finance.

Explanation: A finance lease is the kind of lease in which a finance company is the legal owner of the asset throughout the duration of the lease, while the lessee has both operating control over the asset, and some share of the economic risks and returns from the change in the valuation of the underlying asset.

In a finance lease agreement, ownership of the property is transferred to the lessee at the end of the lease term.

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2 years ago
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Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year. If an amount box does not require
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Answer:

June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.

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Sept. 21 The note is dishonored by Radon Express Co.

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  •     Cr Notes receivable 48,000
  •     Cr Interest revenue 960

When a customer defaults on a note, the company is allowed to convert the note back to accounts receivable and charge any accrued interests. Depending on the client, the company can give them more time (by switching back the note into accounts receivable) or the company can write off the note and try to sell it to a collection company.

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7 0
1 year ago
A walking path at a local park is modeled on the grid below where the length of each grid square is 10 feet. The town needs to s
dem82 [27]

Answer:

The area of the walking path = 3,371 ft²

Explanation:

The complete Question is presented in the attached image to this solution

Note that the walking path consists of straight paths and curved paths.

The straight path is strictly squares, with 9 of them on both sides (top and bottom)

Area of the straight path = 18 × area of one square = 18 × 10² = 1800 ft²

For the curved path, note that their areas is the area between two semi circles.

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Larger semicircle has a radius of R = 30 ft.

Area between the two semicircles = (Area of larger semicircle) - (Area of smaller semicircle)

= (πR²/2) - (πr²/2)

= (π×30²/2) - (π×20²/2)

= 785.4 ft²

But note that there are two of those curved paths, hence, area of the curved paths

= 2 × 785.4 = 1570.8 ft²

Total area of the walking path = (Area of straight path) + (Area of curved path)

= 1800 + 1570.8 = 3370.8 ft² = 3371 ft² to the nearest whole number.

Hope this Helps!!!

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Eve runs a small business. She runs her business operations from a rented office. Eve has paid the office rent worth $10,000 for
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