can you explain step by step: Chapter 16 accounting intermediate II -Basic and diluted EPS 1-Assume...

can you explain step by step: Chapter 16 accounting intermediate II -Basic and diluted EPS

1-Assume that the following data relative to Rice company for 2020 is available:

transactions in common shares change Cumulative

Jan. 1,2020 Beginning number 650,000

Apr 1,2020 Purchase of treasury shares (50,000) 600,000

June 1,2020 100% Stock dividend 600,000 1,200,000

Dec 1,2020 Issuance of shares 200,000 1,400,000

5% cumulative convertible preferred stock

$1,000,000 sold at par on January 1, 2020 convertible into 200,000 shares of common stock

Stock options:

Exercisable at the option price of $30 per share. Average market price in 2020, $35 and there were 60,000 options outstanding since 2017

(A) compute the basic earnings per share for 2020.

(B) compute the diluted earnings per share for 2020

Expert Solution

ekkarill92 answered 2 months ago

Can anyone write an introduction about the textbook "INTERMEDIATE ACCOUNTING II" Ninth edition chapter 20: Accounting...

Can anyone write an introduction about the textbook "INTERMEDIATE ACCOUNTING II" Ninth edition chapter 20: Accounting changes and error corrections, and conclusion such as a power point. (Want to explain like the presentation.) Thanks.

Identify each of the following statements as true or false. 1. All companies are required to provide basic and diluted EPS calculations...

Identify each of the following statements as true or false.1. All companies are required to provide basic and diluted EPS calculations.2. Public companies are required to provide EPS calculations before and after a discontinued operation.3. Basic EPS is total net income divided by market value of shares.4. Private companies may provide EPS calculations.5. EPS is the only ratio required for public companies.

Can you explain step by step. Assume that when adults with smartphones are randomly selected, 53%...

Can you explain step by step. Assume that when adults with smartphones are randomly selected, 53% use them in meetings or classes. If 9 adult smartphone users are randomly selected, find the probability that at least 4 of them use their smartphones in meetings or classes. The probability is

Step 1 – Analyze Business Transactions (Accounting Cycle) Assume that you are the Financial Accountant of...

Step 1 – Analyze Business Transactions (Accounting Cycle) Assume that you are the Financial Accountant of a newly started business from your chosen in August 2020: You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation!

Intermediate Accounting II United Health Group leased a life support machine on January 1, 2018, for...

Intermediate Accounting II United Health Group leased a life support machine on January 1, 2018, for a three-year period ending December 31, 2020. The lease agreement specified annual payments of $144,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2019. The company had the option to purchase the machine on December 30, 2020, for $180,000 when its fair value was expected to be $240,000, a sufficient difference that exercise seems reasonably certain....

Intermediate Accounting II On January 1, 2018, Duncan-Lang Services, Inc. a computer software training firm, leased...

Intermediate Accounting II On January 1, 2018, Duncan-Lang Services, Inc. a computer software training firm, leased several computers under a two-year operating lease agreement from Neble Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $40,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by Neble at a cost of $360,000 and were expected to have a useful life...

Can you explain how and why the value of shares are diluted when firms allow their...

Can you explain how and why the value of shares are diluted when firms allow their employees to buy the firm's stock at a discount?

Chapter 11 discusses the monopolistic and oligopolistic markets. Can you describe the basic characteristics of a...

Chapter 11 discusses the monopolistic and oligopolistic markets. Can you describe the basic characteristics of a monopoly? Is it subject to any competitive pressures?

Can you "dumb down" this question for me and explain it step by step? i really...

Can you "dumb down" this question for me and explain it step by step? i really don't get any of it, so i need a really thorough explanation of how you got that answer. thank you so much! (A) The students at Littlewood Regional High School cut an average of 3.3 classes per month. A random sample of 117 seniors averages 3.8 cuts per month, with a standard deviation of 0.53. Are seniors significantly different from the student body as...

Can you explain step by step for me? "Dumb it down"? I need a lot of...

Can you explain step by step for me? "Dumb it down"? I need a lot of help with this question. Thank you so much! This is the sample set. The s ample mean is 100 and the SD is 10 and the s ample size is 400. Construct the 95% confidence interval?

Question