Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Problem

Maxwell Corp. had the following information related to common and preferred shares during the year.

Common shares outstanding, 1/1 700,000

Common shares repurchased, 3/31 20,000

Conversion of preferred shares, 6/30 40,000

Common shares repurchased, 12/1 36,000

Maxwell reported net income of $2,000,000 at December 31. What amount of shares should Maxwell use as the denominator in the computation of basic earnings per share?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92751594

Have any Question?


Related Questions in Accounting Basics

Question - watch the video then discuss the differences

Question - Watch the video then discuss the differences between variable and absorption costing. How does variable costing help a company make good management decisions? List some examples of ways in which a business wou ...

Accounting question - financial data for joel de paris inc

Accounting Question - Financial data for Joel de Paris, Inc, for last year follows Joel de Paris, Inc Balance Sheet   Beginning Balance Ending Balance Assets Cash $125,000 $133,000 Accounts receivable 348,000 483,000 Inv ...

Question - kripke company reported net income for fiscal

Question - Kripke Company reported net income for fiscal 2016 of $7,215 million, retained earnings at the start of the year of $71,993 million and dividends of $7,448 million, and other transactions with shareholders tha ...

Question - robin corporation purchased 150000 previously

Question - Robin Corporation purchased 150,000 previously unissued shares of Nest Company's $10 par value common stock directly from Nest for $3,400,000. Nest's stockholder's equity immediately before the investment by R ...

Question - on 24th may 2018 the board of abx authorised the

Question - On 24th May 2018, the board of ABX authorised the incorporation of ALCORE, a wholly owned subsidiary to develop a production plant capable of producing 50,000 tonnes of aluminium fluoride per annum? How will t ...

Question - on august 1 2018 alpha corp declared 5 share

Question - On August 1, 2018, Alpha Corp. declared 5% share dividends on its common stock when the market value for the common stock was $15 per share. Shareholders' equity before the stock dividend was declared consiste ...

Have you ever been involved in the budget process at your

Have you ever been involved in the budget process at your organization? If so, describe your role and responsibilities. Do you think people at your level in the organization should provide budget inputs, and why or why n ...

Question - hillside company enters into a contract with

Question - Hillside Company enters into a contract with Sanchez Inc. to provide a software license and 3 years of customer support. The customer-support services require specialized knowledge that only Hillside Company's ...

Question - if milo ltd sold inventory to lime ltd for 20000

Question - If Milo Ltd sold inventory to lime ltd for $20000 at a mark up of 25%. A quarter of the inventory was sold by 30 June 2016. The remainder was still sold by 30 June 2017. What is the equity accounting journal t ...

Question - a machine is purchased january 1 at a cost of

Question - A machine is purchased January 1 at a cost of $56,290. It is expected to produce 129,000 units and have a salvage value of $3,400 at the end of its useful life. Units produced are as follows: Year 1 10,400 Yea ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As