1. Business
  2. Accounting
  3. unique corp had 50000 shares of 5 throughout the year...

Question: unique corp had 50000 shares of 5 throughout the year...

Question details

Unique Corp. had 50,000 shares of $5 throughout the year. Net income for the year was $780,000, and Unique declared and distributed a cash dividend of its common stock. Earnings per share amounted to: preferred stock, $100 par, and 100,000 shares of $1 par common stock outstanding $1 per share on Select one: a. $2.30. D b,S7.80. c. $5 30 d. $1.00
Family Fashions Corporation discontinued Kid-Choice, its entire line of childrens clothing, in November of 2018. Prior to the disposal, Kid-Choice generated a loss of $600,000 net of tax for the period from January through the sale date. Because of the value of the real estate and machinery, there was a gain of $850,000 net of tax on the actual sale. How should this situation be reported in the financial statements of Family Fashions for 2018? Select one: O a. A $250,000 gain should be in the discontinued operations section of the income statement O b. A $600,000 loss should be included in income from operations and a $850,000 gain should be reported in the discontinued operations section of the income statement OC. A $250,000 gain should be included in the 2018 income statement as a non-recurring item. O d. A $250,000 adjustment to beginning retained earnings should be in the statement of retained earnings.
A public corporations decision to globalize impacts all of following except: Select one O a. Production processes O b. Who owns stock in the company. O c. Internal procedures. O d. Accounting outputs.
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution