Problem 20-5 (AICPA Adapted) Petrock Company provided the following information at year-end: 2020 2021 Ordinary share capital Convertihle preference share capital 90,000 shares 10,000 shares 10,000 shares 90,000 shares During 2021, the.entity paid dividends of P10 per ordinary share and P24 per preference share. The preference share capital is convertible into 20,000 ordinary shares. The net income for 2021 was P2,850,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Problem 20-5 (AICPA Adapted) Petrock Company provided the following information at year-end: 2020 2021 Ordinary share capital Convertihle preference share capital 90,000 shares 10,000 shares 10,000 shares 90,000 shares During 2021, the.entity paid dividends of P10 per ordinary share and P24 per preference share. The preference share capital is convertible into 20,000 ordinary shares. The net income for 2021 was P2,850,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 10MC

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