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Home Q & A Board Other Fields Homework Help Business Accounting
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pie pie
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5 years ago
Last year, TUV had 40,000 $15 par, 7 percent, cumulative, convertible preferred shares
outstanding. The Board of Directors did not declare a dividend for the current period because all
of these shares were converted to common shares on the first day of the period. What is the effect
on the numerator of the EPS calculation for this year due to the preferred shares? (Tax rate is 40
%.)
A) $0
B) Add $42,000
C) Subtract $42,000
D) Subtract $25,200
E) Not determinable from the information given.
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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tori.warnertori.warner
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5 years ago
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pie Author
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#2
5 years ago
Helps a lot... Now I'm ready for my quiz
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