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aimtobeacpa
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| Posted: 08 Jul 2010 at 12:45 | IP Logged
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on june 30 2008, issued 10000 , 7% bonds at par.each convertible into 200 shares of common stock.On jan 1 , 2009, 10000 shares of common stock outstanding.bond holders converted all bonds on july 1 , 2009
rev 977000
operating exp 920000
int on bonds 7000
inc before tax 50000
income tax at 30% 15000
NI 35000
2009 diluted eps
its from wiley sum 65...i din't understand the solution...plz someone solve..
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BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79
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Tajik4CPA
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| Posted: 08 Jul 2010 at 13:10 | IP Logged
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What is the dollar amount of bonds? 100,000 or 10,000? Should be 100,000 cause of interest expense of 7000.
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FAR - 92
AUD - 82
REG - 83
BEC - 90
Becker 2009 and Gleim 2010, Wiley 13.0
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aimtobeacpa
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| Posted: 08 Jul 2010 at 13:51 | IP Logged
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sorry i missed one figure, its issued 20 , $10000, 7% bonds at par
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BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79
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Tajik4CPA
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| Posted: 08 Jul 2010 at 14:35 | IP Logged
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I get 3.33$ for DEPS???
__________________
FAR - 92
AUD - 82
REG - 83
BEC - 90
Becker 2009 and Gleim 2010, Wiley 13.0
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aimtobeacpa
Major Contributor
Joined: 10 Dec 2009
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Posts: 657
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| Posted: 08 Jul 2010 at 15:04 | IP Logged
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ans is 2.85
__________________
BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79
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Topic: DEPS
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