On december 31, 2017, berclair inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. on march 1, 2018, berclair purchased 24 million shares of its common stock as treasury stock. berclair issued a 5% common stock dividend on july 1, 2018. four million treasury shares were sold on october 1. net income for the year ended december 31, 2018, was $150 million. also outstanding at december 31 were 30 million incentive stock options granted to key executives on september 13, 2013. the options were exercisable as of september 13, 2017, for 30 million common shares at an exercise price of $56 per share. during 2018, the market price of the common shares averaged $70 per share. the options were exercised on september 1, 2018. required: compute berclair’s basic and diluted earnings per share for the year ended december 31, 2018.

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.

Warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost $870,000. the estimated residual value of the building is $57,000 and it has an expected useful life of 20 years. assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year?

Jorge is attending college next year. he just got information on the college costs and the financial aid package the college is offering. jorge knows his parents can contribute $4,500 each year. jorge’s college costs & financial aid package per year costs financial aid package tuition & fees grants & scholarship $26,000 $18,500 room & board work-study $12,500 $8,500 how much will jorge need to pay each year from his own savings and from loans? $3,000 $7,000 $7,500 $11,500