How is earnings per common share calculated?
a. Operating profit divided by the average number of common stock shares outstanding.
b. Net profit divided by the average number of common and preferred stock shares outstanding.
c. Operating profit divided by the average number of repurchased common stock shares.
d. Net profit divided by the average number of common stock shares outstanding.
Question 2
The Sales Wage Expense would be used to record:
a. Net pay for sales personnel
b. A holding account for wages due and payable
c. Gross Pay for Sales Personnel
d. Deductions for Sales Personnel