Q: Thiessen Corporation earned net income of $300,000 in 2017
Thiessen Corporation earned net income of $300,000 in 2017 and had 100,000 common shares outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds that are convertible into...
See AnswerQ: Assume the same information as in BE17-13 except that the
Assume the same information as in BE17-13 except that the 10% bonds are convertible into 10,000 common shares. Calculate Thiessen’s 2017 diluted earnings per share. Data from BE17-13: Thiessen Corpo...
See AnswerQ: J. J. Kersee Corporation, a Canadian publicly traded company
J. J. Kersee Corporation, a Canadian publicly traded company, is currently preparing the interim financial data that it will issue to its shareholders and the securities commission at the end of the f...
See AnswerQ: LGS Inc. is a private company. You have recently been
LGS Inc. is a private company. You have recently been hired as the CFO for the company and are currently finalizing the company year-end report for December 31, 2017. The company has an option to foll...
See AnswerQ: Melanie Corporation reported net income of $550,000 in 2017
Melanie Corporation reported net income of $550,000 in 2017 and had 900,000 common shares outstanding throughout the year. On May 1, 2017, Melanie issued 5% convertible bonds. Each $1,000 bond is conv...
See AnswerQ: Assume the same information as in BE17-15 except that Melanie
Assume the same information as in BE17-15 except that Melanie reported net income of $350,000 in 2017. Calculate Melanie’s 2017 diluted earnings per share. Data from BE17-15: Melanie Corporation rep...
See AnswerQ: Strait Inc. has 300,000 common shares outstanding throughout the
Strait Inc. has 300,000 common shares outstanding throughout the year. On June 30, Strait issued 10,000 convertible preferred shares that are convertible into two common shares each. Calculate the wei...
See AnswerQ: Next Generation Corporation (a private company) has preferred shares outstanding
Next Generation Corporation (a private company) has preferred shares outstanding, which require Next Generation to redeem the shares for cash at an amount equal to the fair value of the company’s busi...
See AnswerQ: Ad Venture Ltd. provides a defined contribution pension plan for its
Ad Venture Ltd. provides a defined contribution pension plan for its employees. Currently, the company has 40 full-time and 55 part-time employees. The pension plan requires the company to make an ann...
See AnswerQ: Redpath Limited purchased 25,000 call options during the year.
Redpath Limited purchased 25,000 call options during the year. The options give the company the right to buy its own common shares for $4 each. The average market price during the year was $7 per shar...
See Answer
