LOL, sorry if i seemed aggravated. I personally feel like FAR is never ending 3D jigsaw puzzle and right when you think you have a piece in the right place theres a little corner of the piece that is missing or is too big. lol
Sorry guys I'm all sorts of confused tonight. Acccidentally posted in the score release thread first, then posted here, then meant to post that last one in the score release thread….I'll just go back to studying EPS haha
Sorry about that, I hope this one will not be blocked as well ..lol
According to the guidance on consolidation of variable interest entities, which of the following most likely should be treated as VIEs?I.An enterprise is controlled by its equity investors but has sustained large operating losses. A development stage enterprise has minority owners with veto rights.
II.An entityβs investors have voting rights that are not proportional to their obligations to absorb expected losses, and substantially all of its activities involve an investor with disproportionately fewer voting rights.
III.The right of an entityβs investors to receive expected residual returns is capped.
I remember @jrosen posting on here about EPS and calculating them all separately…but I just got a question that had me calculate diluted EPS using convertible preferred stock and convertible bonds, all in the same calculation. Any insight to this?
Mobe Co. reported the following amounts of taxable income (operating loss) for its first 3 years of operations:
Year 2
$ 300,000
Year 3
(700,000)
Year 4
1,200,000
For each year, Mobe had no temporary differences, and its effective income tax rate was 30% at all relevant times. In its Year 3 income tax return, Mobe elected to carry back the maximum amount of loss possible. Furthermore, Mobe determined that it was more likely than not that the full benefit of any loss carryforward would be realized. In its Year 4 income statement, what amount should Mobe report as total income tax expense?
A. $150,000
B. $120,000
C. $360,000
D. $240,000
Please give a brief explanation of your answer, I'm confused on this one
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