In its first year of operations, the Aaron Company's 12/31/18 adjusting tax journal entry includes an entry to Income Tax Expense of $100, a Deferred Tax Asset of $10, and Income Tax Payable of $110. What will be included in the presentation of Income Tax Expense on the 2018 Income Statement?
Keene Co. has 2,000,000 shares of common stock outstanding on December 31, 2018. An additional 100,000 shares are issued on April 1, 2019, and 240,000 more on October 31. On October 31, 2019, Keene issued $3,000,000 of 9% convertible bonds. Each $1,000 bond is convertible into 40 shares of common stock. No bonds have been converted. Assume the bonds are dilutive. The number of shares to be used in computing basic earnings per share and diluted earnings per share on December 31, 2019 is:
Benton Company issues $10,000,000 of 10-year, 8% bonds on April 1, 2017 at 95 plus accrued interest. The bonds are dated January 1, 2017, and pay interest on June 30 and December 31. What is the total cash received on the issue date?