Multiple Choice
On January 2,2014,Wondrous Co.issued at par $50,000 of 4 percent bonds convertible,in total,into 5,000 shares of Wondrous's common stock.No bonds were converted during 2014.Throughout 2014 Wondrous had 5,000 shares of common stock outstanding.Wondrous' 2014 net income was $5,000.Wondrous' income tax rate is 40 percent.No potentially dilutive securities other than the convertible bonds were outstanding during 2014.Wondrous' diluted earnings per share for 2014 would be
A) $0.58.
B) $0.62.
C) $0.70.
D) $1.16.
Correct Answer:
Verified
Correct Answer:
Verified
Q55: During 2014,Belladonna Corp.had outstanding 125,000 shares of
Q56: Overland,Inc.had 150,000 shares of common stock issued
Q57: At December 31,2014 and 2013,Rollins Corp.had 200,000
Q58: On December 31,2013,Freulein Company had 8,000 shares
Q59: Where in the financial statements should basic
Q61: At December 31,2013,Grandin Corporation had 500 shares
Q62: Moodrocker Company had 1,000 common shares issued
Q63: On December 31,2012,Bugler Travel Inc.had 450,000 shares
Q64: Gabor Company had granted 20,000 options to
Q65: The main purpose of reporting diluted earnings