Solved: At december 31 2008 quiggin had 400000 shares of common, Accounting Basics

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At december 31 2008 quiggin had 400000 shares of common

At December 31, 2008 Quiggin had 400,000 shares of common stock outstanding. The company also had 40,000 shares of $7 convertible preferred stock. Each share is convertible into 4 shares of common stock. (Dividends were declared and paid)

Transactions during 2009:

July 1, 2009 Sold 200,000 shares

July 8, 2009 Declared 100% stock dividend

September 1, 2009 Sold 120,000 shares

October 1, 2009 Purchased 60,000 shares to be held in treasury

Quiggin reported a loss of $670,700 for 2009

How do I compute earnings per share and diluted earnings per share?

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Accounting Basics: At december 31 2008 quiggin had 400000 shares of common

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Accounting Basics: At december 31 2008 quiggin had 400000 shares of common

Reference No:- TGS01254094

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