At january 1 2013 canaday corporation had outstanding the, Ask an Expert

Accounting

At January 1, 2013, Canaday Corporation had outstanding the following securities:
700 million common shares
35 million 8% cumulative preferred shares, $50 par
8% convertible bonds, $2,500 million face amount, convertible into 70 million common shares

The following additional information is available:
• On September 1, 2013, Canaday sold 75 million additional shares of common stock.

•Incentive stock options to purchase 50 million shares of common stock after July 1, 2012, at $10 per share were outstanding at the beginning and end of 2013. The average market price of Canaday's common stock was $20 per share during 2013.

•Canaday's net income for the year ended December 31, 2013, was $1,516 million. The effective income tax rate was 40%.

Required:

1.Calculate basic earnings per common share for the year ended December 31, 2013. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2.Calculate the diluted earnings per common share for the year ended December 31, 2013. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9944587

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - in november 2018 the brunswick company signed

Question - In November 2018, the Brunswick Company signed two purchase commitments. The first commitment requires Brunswick to purchase 11,000 units of inventory at $8 per unit by December 15, 2018. The second commitment ...

Question - us steel issues a 2000000 bond at 10 for 8 years

Question - US Steel issues a $2,000,000 bond at 10% for 8 years. The market interest rate is 9%. Be sure to use the time value of money tables, not the formulas; and round your answers to the nearest whole dollars. Quest ...

Question - how do you find covered payroll on a schedule of

Question - How do you find covered payroll on a schedule of changes in net pension liability and related ratios chart? How do you find "New pension liability as a percentage of covered payroll"? Net change in plan fiduci ...

Question - the following data was extracted from the

Question - The following data was extracted from the records of Winsam Company Sales Revenue 450 units @ $35 per unit Beginning Inventory 100 units @ $16 per unit Purchases 400 units at $20 per unit What is the gross pro ...

Question - this is an accounting problem that appears on

Question - This is an accounting problem that appears on McGraw Hill. Please help with recording the advance collection and revenue earned on the general journal. The University of Michigan football stadium, built in 192 ...

Question - at the beginning of the school year priscilla

Question - At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay ...

Question - the asset account office supplies had a

Question - The asset account, Office Supplies had a beginning balance of $5,700. During the accounting period, office supplies were purchased, on account, for $5,100. A physical count, on the last day of the accounting p ...

Question - the blending department of luongo company has

Question - The Blending Department of Luongo Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 20% compl ...

Question - lee chang opened changs cleaning service on july

Question - Lee Chang opened Chang's Cleaning Service on July 1, 2010. During July the following transactions were completed. July 1 Chang invested $20,000 cash in the business. July 1 Purchased used truck for $9,000, pay ...

Question - stellar company manufactures equipment stellars

Question - Stellar Company manufactures equipment. Stellar's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert