Royal Company reported the following capital structure on January 1, Shares issued and outstanding 2017: 200,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Royal Company reported the following capital structure on January 1, Shares issued and outstanding 2017: 200,000 50,000 Ordinary share capital Preference share capital On October 1, 2017, the entity issued a 10% share dividend on ordinary shares and declared the annual cash dividend of P200,000 on preference shares. The preference shares are noncumulative, nonparticipating and nonconvertible. Net income for the year ended December 31, 2017 was P1,920,000. What amount should be reported as basic earnings per share? Ute Company had the following capital structure during 2016 and 2017: Preference share capital, P10 par, 4% cumulative. 25,000 shares issued and outstanding Ordinary share capital, P5 par, 200,000 shares issued and outstanding 250,000 1,000,000 The entity reported net income of P500,000 for the year ended December 31, 2017. The entity paid no preference dividends during 2016 and paid P16,000 in preference dividends during 2017. What amount should be reported as basic earnings per share? Royal Company reported the following capital structure on January 1, Shares issued and outstanding 2017: 200,000 50,000 Ordinary share capital Preference share capital On October 1, 2017, the entity issued a 10% share dividend on ordinary shares and declared the annual cash dividend of P200,000 on preference shares. The preference shares are noncumulative, nonparticipating and nonconvertible. Net income for the year ended December 31, 2017 was P1,920,000. What amount should be reported as basic earnings per share? Ute Company had the following capital structure during 2016 and 2017: Preference share capital, P10 par, 4% cumulative. 25,000 shares issued and outstanding Ordinary share capital, P5 par, 200,000 shares issued and outstanding 250,000 1,000,000 The entity reported net income of P500,000 for the year ended December 31, 2017. The entity paid no preference dividends during 2016 and paid P16,000 in preference dividends during 2017. What amount should be reported as basic earnings per share?
Expert Answer:
Answer rating: 100% (QA)
1 Calculate the basic earnings per share EPS Determine the number of ordinary shares after the share dividend Ordinary shares issued and outstanding o... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
1. Evaluate whether the following statements are true or false in relation to cash and cash equivalents: I. Demand Deposits forms part as cash just like savings and time deposit. II. Stale checks...
-
Evaluate the definite integral 5 dx = 4 3 (3x - 5) dx. 5 3 S (3x - 5) 4 (Round to four decimal places as needed.)
-
(Multiple Choice) 1. For purposes of computing the weighted average number of shares outstanding during the year, a midyear event that must be treated as occurring at the beginning of the year is the...
-
Suggest a good synthetic method for preparing each of the following haloalkanes from the corresponding alcohols. CH3 H3C CI I () CH-CH-CH,CI (b) CH;CH,CHCH,Br () (d) CH;CHCH(CH3)2
-
A mine is for sale for $240,000. It is believed the mine will produce a profit of $65,000 the first year, but the profit will decline $5000 a year after that, eventually reaching zero, whereupon the...
-
Son Corporation, an 80 percent-owned subsidiary of Pin Corporation, sold equipment with a book value of $150,000 to Pin for $250,000 at December 31, 2011. Separate income tax returns are filed, and a...
-
Provide an example of a known liability, an estimated liability, and a contingent liability.
-
The cash flow statement categorizes like transactions for optimal reporting. Identify each of the following transactions as one of the following: Operating activity (O) Investing activity (I) ...
-
Research that presents an analysis of a current (within the last 6 months) ethical situation that a specific company has confronted related to marketing in a global (non-US) setting or context by...
-
The trial balance for the MAD Partnership is as follows just before declaring bankruptcy. Required: A. Prepare a schedule to show how available cash would be distributed to the partners after...
-
An investor owns a $2;000 par-value 12% bond with semiannual coupons. The bound will mature at par at the end of fourteen years. The investor decides that a ten-year bond would be preferable. Current...
-
In a speech in 2022, Patricia Zobel, who was then an official of the Federal Reserve Bank of New York, noted that an ample supply of reserves ensures that control over the level of the federal funds...
-
In an article in the Economist, economist John Cochrane of Stanford Universitys Hoover Institution refers to the ideas of Milton Friedman, who died in 2006: Even Milton Friedman might change his mind...
-
Mrs. Yoder is a large family-style restaurant chain located throughout the Midwest in Amish communities. Currently, Mrs. Yoder makes its own biscuits. Customers love these biscuits; they are light,...
-
An article in the Wall Street Journal quoted Patrick Harker, president of the Federal Reserve Bank of Philadelphia, as saying that the Fed is committed to implementing monetary policy in a regime of...
-
A Federal Reserve publication observed that today, the The Feds primary tool for adjusting the federal funds rate is interest on reserve balances. a. Briefly explain the reasoning behind this...
-
What is the process of DNA replication?
-
What are some of the possible sources of information about a company that could be used for determining the companys competitive stance?
-
Nestlé's financial statements are presented in Appendix B. Financial statements of Petra Foods are presented in Appendix C. Complete annual reports, including notes to the financial...
-
During its first year of operations, Punjab Limited had the following transactions pertaining to its ordinary shares. Jan. 10 Issued 70,000 shares for cash at Rs5 per share. July 1 Issued 30,000...
-
The financial statements of TSMC are presented in Appendix A at the end of this textbook. The complete annual report, including the notes to the financial statements, is available in the Investors...
-
Sportscar Warehouse operates in a province with a \(6 \%\) sales tax. For convenience, Sportscar Warehouse credits Sales Revenue for the total amount (selling price plus sales tax) collected from...
-
What kind of account is Unearned Revenue? a. Asset account b. Liability account c. Revenue account d. Expense account
-
A bond with a face amount of \(\$ 10,000\) has a current price quote of 102.875 . What is the bond's price? a. \(\$ 1,028,750\) b. \(\$ 10,200.88\) c. \(\$ 10,028.75\) d. \(\$ 10,287.50\)
Study smarter with the SolutionInn App