FREE Trial

As part of its executive compensation plan, Vertovec Inc. granted 54,000 of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. Vertovec's common shares have a market price of $5 per share

As part of its executive compensation plan, Vertovec Inc. granted 54,000 of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. Vertovec's common shares have a market price of $5 per share on January 1, 2017, the grant date of the restricted stock award, as well as on December 31, 2018. 800,000 shares were outstanding at January 1, 2018. Net income for 2018 was $120,000.
Required:
Compute Vertovec's basic and diluted earnings per share for the year ended December 31, 2018.

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
  • Tutor Answer

Amounts in thousands except per share amounts Basic EPS …View the full answer


answer-question
Related Book For  answer-question
Intermediate Accounting

Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

See More Books
Question Details
Chapter # 19- Share-Based Compensation and Earnings Per Share
Section: Exercises
Problem: 22
Posted Date: May 30, 2017 09:09:25
See More Questions

Students also viewed these Cost Accounting questions

Q:
2x 8. Solve the initial value problem y' - (22) y = 0, y(0) = 3
A:
dy so y y dx lef 2X y 7271 22 Y 0 dy Y dy Y......
Q:
As part of its cost control program, Tracer Company uses a standard costing system for all manufactured items. The standard cost for each item is established at the beginning of the fiscal year, and...
A:
1 Tracer Company must put 50 000 units of lower quality direct materials into production in order to......
Q:
As part of its UTP assessment, Penobscot Company records interest and penalties related to its tax contingency amount of $500,000. Which of the following statements about recording this amount is...
A:
d To conclude we can say that Penobscot can elec......
Q:
Evaluate and simplify the following derivatives. d (4u + u du 8u+ 1/
A:
To find the derivative of f u 4u 2 u 8u 1 we need to apply the quo......
Q:
Upton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships them to its chain of retail stores, and has a staff to advise customers and help them...
A:
a The Excel spreadsheet wou......
Q:
Draw the shear and moment diagrams for each member of the frame. Assume the support at A is a pin and D is a roller. 0.8 k/ft B 0.6 k/ft 16 ft -20 ft -
A:
V max 11 8 k M m......
Q:
Identify the organizational structure. What are the major units, what type of personnel work there, how many staff, etc.?
A:
There are three primary components in the organization Administration Me......
Q:
According to a recent National Association of Colleges and Employers (NACE) report, 48% of college student internships are unpaid. (Source: Just 38 Percent of Unpaid Internships Were Subject to FLSA...
A:
a PHStat output H 0 0 48 H 1 0 48 Decision rule p value 0 05 reject H 0 Test statistic p......
Q:
Reflect on the industry and statutory frameworks for the USB Wealth Management Crisis, and develop an overview of the company's legal and ethical environment. Specifically: Analyze how the case fits...
A:
Broader Business Ethics Context 1 Profit vs Ethics Tensions Many business ethics cases involve tensions between profit seeking and ethical behavior Co......
Q:
ACCT 2023 PROJECT 1 Solar Solutions began operations on January 1, 2015, and is now in il Solar Soluti Solar Soluti Solar Soluti Solar Soluti Solar S Solar Solutions began operations on January 1,...
A:
answers Account Title 2020 2020 Vertical Analysis Current Ass......
Q:
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31...
A:
Amounts in thousands except per share amounts Basic EPS Net preferred income dividends 500 60 440 x......
Q:
PHN Foods granted 18 million of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. The common shares have a market price of $5 per share on...
A:
Requirement 1 5 fair value per share x 18 million shares granted 90 million The 90 million total com......
Q:
Wimberley Glass, Inc. has shops in the shopping malls of a major metropolitan area. The business completed the following transactions: June 1 Received cash of $25,000, and issued common shares to a...
A:
Req 1 journal entries explanations not required Journal DATE ACC......
Q:
Calculate Useable Yield Percentage (fill in the blanks) Purchased Weight 5448 grams 63 grams 84 grams Item Cost Watermelon $5.50 $0.30 $1.23 Egg Apple Ingredient Water Yeast Bread flour Cost this...
A:
SOLUTION To calculate the usable yield percentage we need to determine the weight of the usable portion of each item and divide it by the purchased we......
Q:
Suppose we have a sample of student, X: represent their score in programming exam. Y: represent their score in ICDL exam. n = 10 EY = 210 EX=62 Syy = 291 EX = 415 Sxy= 91 a. Find the estimated...
A:
Click to View...
Q:
Write a script which: 1. Uses the input function to get any number and store it in a variable named my_number 2. Create a new variable named calculation which equals my_number plus 9 3. Multiply...
A:
Click to View...
Q:
Back Country manufactures backpacks. Its plant records include the following materials-related data: (Click the icon to view the transactions.) Journalize the entries to record the transactions, post...
A:
To journalize the entries and determine the ending balance in the Raw Materials Inventory account we......
Q:
Influencer Marketing is big business. Have you ever been influenced to buy a product or service by an online influencer? Were you happy with the product/experience? Do you feel more or less trust in...
A:
Influencer marketing has indeed become a significant industry and many people are influenced by online influencers when making purchasing decisions He......
Q:
The income statement and additional data of Floral World Ltd. follow: Additional data: a. Collections from customers are $30,000 more than sales. b. Payments to suppliers are $1,000 more than the sum...
A:
Req 1 Floral World Ltd Statement of Cash Flows For the Year Ended June 30 2017 Cash flows from opera......
Q:
Briefly discuss the implications of the financial statement presentation project for the reporting of stockholders equity.
A:
It is likely that the statement of stockholders eq......
Q:
What is an advantage of floating rate preferred stock for the risk-averse investor?
A:
A floating rate fund capitalizes in bonds and debt inst......
Q:
What is an advantage of using a stem-and-leaf plot instead of a histogram? What is a disadvantage?
A:
Solution Advantage of using a stem and leaf plot instead of a histogram as......
Q:
What could be an advantage of using an anion exchange column based on a quaternary amine [i.e., resinN+ (CH2CH3)3] as opposed to a tertiary amine [resinNH+ (CH2CH3)2]?
A:
With a quaternary amine the column resin always has a net......
Q:
In Exercises 1126, determine whether each equation defines y as a function of x. x + y = 16
A:
x y 16 y 16 x y 16 x If......
Q:
What is Rule #2 when dealing with foreign exchange? Why is it important?
A:
Rule 2 says to Always think of buying or selling the currency in......
Q:
Complete ratio analysis, recognizing significant differences Home Health, Inc., has come to Jane Ross for a yearly financial checkup. As a first step, Jane has prepared a complete set of ratios for...
A:
a Home Health Inc Ratio 2014 2015 Difference Proportional Difference Current ratio 3 25 3 00 0 25 7......
Q:
Eric Carson sums up his beliefs about God as follows: God exists if and only if either life is meaningful or the soul is not immortal. God exists and the soul is immortal. If God exists, then life is...
A:
Click to View...
Q:
SSARS contain several procedures that are required when engaged to perform a compilation or review engagement. Below are ten statements that may or may not be relevant to a compilation or review...
A:
X Required procedure PROCEDURE......
Q:
B In a regulated flyback converter with a 1: 1 turns ratio, V, 12 V, V, is 12-24 V, Pond is 6-60 W, and the switching frequency f = 200 kHz. Calculate the maximum value of the magnetizing inductance...
A:
To determine the maximum value of the magnetizing inductance Lm for a regulated flyback converter op......
Q:
List the factors affecting sample size in a PPS sample.
A:
Sampling is method which selects a sub group from a larger population PPS probability pr......
Q:
Newark Co. is based in the U.S. Approximately 30% of its sales are from exports to Portugal, and the company has no other international business. It finances its operations with 40% equity and the...
A:
Cost of equity ke R B Rm R Cost of......
Q:
During a conflict in the Middle East, some MNCs capitalized on opportunities to rebuild the damaged areas. However, some of their employees were kidnapped by local militant groups. How should an MNC...
A:
This question can lead to an interesting class discussion......
Q:
Determine whether each function graphed or defined is one-to-one. y = 3x 3 - 6
A:
y 3x 3 6 Looking at this function in the window 10 10 by 15 5 we can see that it ap......
Q:
To what extent are IFRS used for domestic financial reporting in the major economies surveyed in the chapter?
A:
The extent to which International Financial Reporting Standards IFRS are used for domestic financial reporting in major economies can vary significant......
Q:
Mazda Motor is a Japanese auto company based in Hiroshima, Japan. Mazda continues to use Japanese GAAP despite the trend in Japan to adopt IFRS. Required: What are possible reasons for Mazda's...
A:
Mazda Motor s reluctance to switch to International Financial Reporting Standards IFRS instead of Japanese Generally Accepted Accounting Principles GAAP can be attributed to several reasons Cultural a......
Q:
Helium-laced gases are used as breathing media for deep-sea divers. Why? Table 13.2 may provide useful data. Table 13.2: Henry's Constants for Gases Dissolved in Water at 25C Gas Acetylene Air Carbon...
A:
Helium laced gases are used as breathing media for deep sea divers for several important reasons primarily related to its low solubility in blood and......
Q:
A system formed initially of 2 mol CO 2 , 5 mol H 2 , and 1 mol CO undergoes the reactions: Develop expressions for the mole fractions of the reacting species as functions of the reaction coordinates...
A:
To develop expressions for the mole fractions of the reacting species as functions of the reaction c......
Q:
Spindleruv s.r.o. (a Czech company) invests 2,000,000 euros in a foreign subsidiary on January 1, Year 1. The subsidiary commences operations on that date and generates net income of 100,000 euros...
A:
To determine the translation adjustment that Spindleruv s r o will report on its December 31 Year 1 balance sheet related to the foreign subsidiary as......
Q:
Repeat Exercise 9 using all of the 82 pairs of ages in Data Set 11 from Appendix B. For that data set, there are 16 positive signs, 64 negative signs, and 2 ties. Use the sign test for the data...
A:
The test statistic of z 5 25 falls in the......
Q:
Design a circuit which negative the content of any register and store it in the same register.
A:
I m taking output of resister as 4 bit so each bit wi......
Q:
A company is examining two mutually exclusive projects. Project X requires an immediate investment of $100,000 and produces no profit until Year 3. Then the annual profit is $60,000 for Years 3 to 5...
A:
a The IRR on Project X is the value of i satisfying The solution is i 16 0 IRR on project X Th......
Q:
A company is examining two mutually exclusive projects. Project P requires an immediate investment of $225,000 and produces no profit until the fourth year. Then the expected annual profit is...
A:
a The IRR on project P is the value of i satisfying The solution is i 15 0 IRR o......
Q:
Assuming that there are no corporate income taxes, how can the costs of preferred stock and debt be estimated?
A:
With no taxes if you plug a firms asset beta into the CA......
Q:
In Exercises 7192, find and simplify the difference quotient f(x +h)-f(x) h -, h = 0
A:
f x h f x h 2 x h......
Q:
Use the same information as in E14-24 but assume now that Green Bank reduced the principal to $1.6 million rather than $1.9 million. On January 1, 2018, Troubled Inc. pays $1.6 million in cash to...
A:
a The first step is to determine the economic substance of the debt renegotiation and determine if it should be accounted as a settlement or a modific......
Q:
You are the central banker for a country that is considering the adoption of a new nominal anchor. When you take the position as chairperson, the inflation rate is 4% and your position as the central...
A:
a The central bank uses a nominal anchor to control the inflation rate Because the govern......
Q:
Q (K F).(K Q) (F Q) Use truth tables to determine whether the following pairs of symbolized statements are logically equivalent, contradictory, consistent, or inconsistent. First, determine...
A:
Click to View...
Q:
A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of...
A:
a Purchase motel maximax payoff 20 000 b Purchase theater maximin payoff 5 000 c Shortage Stable Sur......
Q:
In the 12 Angry Men film choose any character from the film, and describe one scene in which you feel his intent could have been demonstrated without any dialogue using only his nonverbal behaviors....
A:
Certainly Let s take Juror 3 played by Lee J Cobb as an example from the film 12 Angry Men In one particular scene Juror 3 s intent is powerfully demo......
Q:
A national catalog and Internet retailer has three warehouses and three major distribution centers located around the country. Normally, items are shipped directly from the warehouses to the...
A:
x 1C 70 x BA 10 x 2B......
Q:
Two forces of magnitudes 3.0 N and 4.0 N act on an object. How are the directions of the two forces related if (a) the net force has magnitude 7.0 N or (b) the net force has magnitude 5.0 N? ( c)...
A:
Solution Magnitude of the first force A 3 0 N Magnitude of the second force B 4 0 N a Magnitude of t......
Q:
1. If the cost function of producing a commodity is: 40 + 50x + Vx2 +1 10 - C (x) == where x represents the number of units produced. Calculate the marginal cost of producing 20 units. 2. If the...
A:
1 The marginal cost of producing 20 units is 40 50x Vx......
Q:
The conductivity of 0.02M solution of NaCl is 2.6 x 102 S cm. What is its molar conductivity ?
A:
The detailed......
Q:
What are the commonalities and differences between regression and correlation?
A:
Regression and correlation are both statistical techniques used to analyze the relationships between variables but they serve different purposes and h......
Q:
How do you describe the importance of data in analytics? Can we think of analytics without data?
A:
Data is the lifeblood of analytics and its importance cannot be overstated Analytics is the process of systematically analyzing and interpreting data......
Q:
Use the information for Hanover Corporation in BE15-21. Assume now that the company resells the 1,000 treasury shares at $55 per share. Prepare the journal entries for the repurchase and subsequent...
A:
Record the repurchase of treasury shares on September 5 2017 Debit Treasury Stock 1 500 sh......
Q:
What are the main differences between descriptive and inferential statistics?
A:
Descriptive and inferential statistics are two branches of statistics used for different purposes in data analysis Here are the main differences betwe......
Q:
Gopu Industries Ltd. issued 50,000 shares of 20 each at par. The following are the details of the amounts payable. Except Rajan, a shareholder holding 1,000 shares who failed to pay the allotment...
A:
To record the issuance of shares the receipt of various amounts and the subsequent forfeiture of shares in the books of Gopu Industries Ltd we will cr......
Q:
The captain of a cricket team of 11 players is 25 years old and the wicket-keeper is 3 years older than the captain. If these two players are replaced by another two players, the average age of the...
A:
Given The captain of a cricket team of 11 players is 25......
Q:
The Place-Plus real estate development firm in Problem 24 is dissatisfied with the economists estimate of the probabilities of future interest rate movement, so it is considering having a financial...
A:
P d 50 P s 40 P i 10 P D d 80 P S d 10 P I d 10 P S s 70 P D s 10......
Optimization Concepts And Applications In Engineering 2nd Edition - ISBN: 0521878462 - Free Book