accounting 494954

Question 1   An entity that reports a discontinued operation or an extraordinary item shall present basic and diluted earnings per share amounts for those line items Answer ??either on the face of the income statement or in the notes to the financial statements.????only in the notes to the financial statements.????only on the face of the income statement.????only if management chooses to do so as these amounts are not required to be disclosed either in the financial statements or the notes thereto.??2 points    Question 2   At December 31, 2014 and 2013, Rollins Corp. had 200,000 shares of common stock and 20,000 shares of 5 percent, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2013 or 2014. Net income for 2014 was $1,000,000. For 2014, basic earnings per common share amounted to Answer ??$5.00.????$4.75.????$4.50.????$4.00.??2 points    Question 3   At December 31, 2014, the Carboneer Company had 150,000 shares of common stock issued and outstanding. On April 1, 2015, an additional 30,000 shares of common stock were issued. Carboneer’s net income for the year ended December 31, 2015, was $517,500. During 2015, Carboneer declared and paid $300,000 in cash dividends on its nonconvertible preferred stock. The basic earnings per common share, rounded to the nearest penny, for the year ended December 31, 2015, should be Answer ??$3.00.????$2.00.????$1.45.????$1.26.??2 points    Question 4   Basic earnings per share represents the amount of earnings attributable to Answer ??all common stock and dilutive securities.????common stock, preferred stock, and all dilutive securities.????each share of common stock, and options or warrants which convert to common stock.????each share of common stock outstanding, and any non-conditional conversions and exercises.??2 points    Question 5   Earnings per share disclosures are required only for Answer ??companies with complex capital…