115.A company would be considered to have a complex capital structure if it had
a.
convertible bonds.
b.
preferred stock.
c.
long-term notes payable.
d.
common stock.
116.A convertible security is used in the computation of
a.
both basic and diluted earnings per share.
b.
diluted earnings per share only.
c.
neither basic nor diluted earnings per share.
d.
basic earnings per share only.
117.Bowen Corporation had 13,000 shares of common stock outstanding from January 1 to April 1 and 33,000 shares from April 1 to December 31. What is the weighted-average number of shares used for earnings per share calculations?
a.
29,333
b.
18,000
c.
28,000
d.
23,000
118.A company had 48,000 shares outstanding from January 1 to June 1 and 72,000 shares outstanding from June 1 to December 31. What is the weighted-average number of shares used in earnings per share calculations?
a.
58,000
b.
60,000
c.
64,000
d.
62,000
119.A company had the following amounts of common stock outstanding: 9,000 shares from January through April, 15,000 shares from May through October, and 25,000 shares from November through December. What is the weighted-average number of shares used in earnings per share calculations?
a.
13,917
b.
49,000
c.
14,667
d.
25,000
120.On December 31, 20×7, Kallman Corporation had 160,000 shares of common stock issued and outstanding. On April 1, 20×8, an additional 40,000 shares of common stock were issued for cash. During 20×8, Kallman declared and paid dividends of $150,000 on its 20,000 shares of nonconvertible preferred stock. Net income for 20×8 amounted to $400,000. Kallman’s earnings per share (rounded to the nearest cent) for 20×8 are
a.
$2.00.
b.
$1.32.
c.
$2.11.
d.
$1.25.
121.On December 31, 20×7, Voss Corporation had 150,000 shares of common stock issued and outstanding. On October 1, 20×8, an additional 20,000 shares of common stock were issued for cash. During 20×8, Voss declared and paid dividends of $100,000 on its 10,000 shares of nonconvertible preferred stock. During 20×8, Voss declared and paid dividends of $80,000 on its common stock. Net income for 20×8 amounted to $500,000. The earnings per share (rounded to the nearest cent) for 20×8 are
a.
$2.58.
b.
$3.23.
c.
$1.88.
d.
$2.06.
122.A company would be considered to have a simple capital structure if it had
a.
convertible preferred stock.
b.
convertible bonds.
c.
stock options.
d.
common stock only.
123.Comprehensive income could contain all of the following except
a.
investments by stockholders.
b.
expenses.
c.
revenues.
d.
unrealized investment gains and losses.
124.Colfax Corporation had a Retained Earnings balance on January 1, 20×7, of $720,000; declared cash dividends during 20×7 in the amount of $146,000, of which $30,000 were not paid until 20×8; and reported an ending balance of Retained Earnings of $1,020,000. Based on these facts alone, net income for 20×7 for Colfax Corporation must have been
a.
$446,000.
b.
$186,000.
c.
$346,000.
d.
$416,000.
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