Atlanta Company provided the following information at the beginning of the current year: Ordinary share capital, P10 par value, 800,000 shares                   8,000,000 12% convertible bonds issued at face value, each P1,000 bond is convertible into 80 ordinary shares                                                                  5,000,000  May 1 Issued 90,000 ordinary shares for P30 per share. July 1 Purchased 100,000 ordinary shares of treasury at P35 per share. October 1 Converted P2,000,000 face value of bonds December 1 Net income for the year was P9,500,000. The tax rate is 30% What amount should be reported as basic earnings per share? What amount should be reported as diluted earnings per share?

Q: C. Utter Space Corp. had the following securities outstanding at the beginning of the current year:…

A: Basic Earnings Per Share = Net Income / Number of outstanding shares Diluted Earnings Per Share = (…

Q: On January 01, 2022, DEF Company provided the following information:    Ordinary share capital,…

A: Diluted earning per share- Diluted earnings per share (EPS) informs existing equity investors of the…

Q: Pagsanjan Company reported the following capital structure at year-end: 2020 2021 Outstanding…

A: 1. Earnings per share :   = Net income - preference dividend /    Average shares outstanding. =…

Q: On January 1, ABC Company has 120,000 outstanding ordinary shares. During the year, ABC reported net…

A: Earning per share means net amount per equity share which is derived from the earnings of the entity…

Q: On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equity securities…

A: Theoretical value of rights=Market price-Subscription priceNumber of rights+1=P 80-P 604+1=P 4

Q: On January 1, ABC Company has 100,000 outstanding ordinary shares. During the year, ABC reported net…

A: Earnings per share indicate the profits per share of common stockholders. It can be calculated by…

Q: The information below pertains to Pina Company for 2021. Net income for the year   $1,230,000 7%…

A: (a) Compute basic earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)…

Q: REQUIREMENTS: (1) Compute BASIC EARNINGS PER SHARE for 2003. (2) Compute DILUTED EARNINGS PER SHARE…

A: Given information is: Following is a partial balance sheet for Anderson Corp. for the year ended…

Q: Common Stock 2.22 Warrants 9700 Conversion Bonds 2.05 Click if you would like to Show Work for this…

A: Diluted earning per share for convertible bond = After tax interest cost /weighed average potential…

Q: At December 31, 19x4, Back Company had 350,000 shares of common stock outstanding. On September 1,…

A: Note: Since we are entitled to answer only one question, we’ll answer the second question because to…

Q: n entity reported the following information on January 1, 2016: ordinary share capital, P10 par, 800…

A: Preference shares- Holders of preference shares gets preference in dividend over equity shareholders…

Q: The information below pertains to Swifty Company for 2021. Net income for the year   $1,210,000 7%…

A: Basic earnings per share refer to a firm's net income was allotted to each share of common stock. In…

Q: Case 1: Fabi Corporation During the year, Fabi Corporation issued 10,000 ordinary shares with P100…

A: Equity shares are those shares which do not have preferential right on dividend and repayment of…

Q: On January 1, ABC Company has 120,000 outstanding ordinary shares. During the year, ABC reported net…

A: When all the convertible securities are converted into equity shares it is known as diluted…

Q: An entity provided the following data for the current year: Net Income – P 4,000,000 Ordinary…

A: In the context of the given question, we are required to compute the incremental EPS of the…

Q: At the beginning of current yearhad 480,000 par value ordinary shares and 100,000, 10% P100 par…

A: The ordinary shares are also known as the common shares. The adjustment for beginning shares…

Q: An entity provided the following data for the current year: Net Income – P 4,000,000 Ordinary…

A: Calculating Diluted EPS  48000 stock options would increase the number of outstanding shares by…

Q: C. Utter Space Corp. had the following securities outstanding at the beginning of the current year:…

A: Net income after tax = Net income - (Net income × 30%)=P 5,000,000-( P 5,000,000 × 30%)=P…

Q: . The following accounts are shown on the statement of financial position of Phoenix Corporation…

A: Note: As posted multiple independent questions we are answering only first question kindly repost…

Q: CFAS Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with…

A: share premium account is created when there is the difference in the par value or face value of the…

Q: Case 1:  During the year, Fabi Corporation issued 10,000 ordinary shares with P100 par value and…

A: “Since you have asked multiple questions, we will solve the first question for you (Case 1-i). If…

Q: MANILA CO. On January 1, 2X16, Manila Co. has 100,000 outstanding ordinary shares. During the year,…

A: Diluted Earnings per share seem to be the net earnings per share for the time accessible to equity…

Q: follows: Bonds payable, 10 years, 10%                                              P1,000,000 10%…

A:

Q: Colors Company has 200,000 shares of ordinary share on January 1, 2012. On August 31, 2012, 9%…

A: Solution: Interest cost on bond for 2012= P2,000,000*9%*4/12 = P60,000 Saving in annual interest…

Q: At the beginning of current year, Franta Company was authorized to issue share capital of 100,000…

A: Introduction: Dividends are paid to the shareholders as a part of the profits earned during the…

Q: An entity had issued 950,000 P50-par ordinary shares. Of these, 32,000 shares were held as treasury…

A: The treasury stock reduces the number of outstanding shares but issued shares are not effected with…

Q: $10,000 a $200,000 bond issue convertible into 4,000 shares of common stock (par value $20). At the…

A: Bond conversion is the process of converting a bond into stock. The conversion ratio defines the…

Q: Lone Company reported the following at year-end: Bonds payable – 10% Ordinary share capital, P100…

A: Basic earnings per share net income available for each equity shareholder. Diluted Earnings per…

Q: information below pertains to Sage Company for 2021. Net income for the year   $1,210,000 7%…

A: Diluted earnings per share: It is the calculation of earning per share after adjusting exercise…

Q: the shares issued for cash the year would be _____shares.

A: Legal capital refers to the amount of the corporation's equity that cannot be legally allowed to…

Q: An entity provided the following data for the current year: Net Income – P 4,000,000 Ordinary…

A: Basic EPS = net income/ No. of Shares Outstanding = 4000000/250000 = P 16

Q: A company issues 10,000 shares of $0.05 par value common stock for $25 per share. Which of the…

A: Definition: Common stock: Common stock is the instrument used by the company for raising funds from…

Q: ded the following information at the Atla beginning of the current year: 12% convertible bonds…

A: Given that, Net income for the year = P9,500,000  Tax rate = 30%  Ordinary share outstanding at…

Q: The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50,…

A: Journal Entry  Date Particulars Debit (in P) Credit (in P) Agu -10 Treasury  ( 4000 x 60 )…

Q: An entity had issued 950,000 P50-par ordinary shares. Of these, 32,000 shares were held as treasury…

A: The treasury shares includes the buy back of its own shares by company.

Q: Curve Company reported the following shareholders' equity on January 1, 2020: Ordinary share…

A: On May 2021, Number of shares issued in connection with bond warrant = 10000 shares @ P 120 per…

Q: Katrina Company reported the following information at the end of reporting period: 1,500,000 Bonds…

A: Earnings per share are of two types  1. Basic Earnings per Share is calculated by dividing net…

Q: . The total issued and outstanding of GRAPES Company ordinary shares at ₱10 par is 100,000 shares.…

A: solution given The total issued and outstanding of GRAPES Company ordinary shares at ₱10 par is…

Q: The information below pertains to Swifty Company for 2021. Net income for the year   $1,210,000 7%…

A: Answer:  Net Income = $12,10,000 Preferred Dividend =  4,200,000*6% = $252000 Number of shares =…

Q: #25 ABC Company has the following data for the year: Ordinary shares, outstanding since January 1…

A: Incremental EPS is calculated with the help of following formula  Incremental EPS = Incremental…

Q: An entity had the following securities outstanding as of December 31, 2021: 10% convertible bonds…

A: Basic EPS:- Basic EPS is a financial ratio which is derive by the net income divided by the share…

Q: The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50,…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

Q: book value

A: Amount of share capital = Number of shares issued * Average price Number of shares issued 100,000…

Q: Los Altos, Inc., is authorized to issue 1,500,000 shares of $1 par value common stock. The company…

A: Solution: When common stock are issued at a price greater than par value, common stock account is…

Q: The following information was taken from the books and records of Ivanhoe, Inc.: 1. Net Income…

A: Earnings per share: When the company earns the net income then this income is divided by the Number…

Q: At the beginning of current year, Juan Company was organized with 100,000 authorized shares of P100…

A: Share capital These are the shares issued by a company to an outsider. These shares entitle a share…

Q: The information below pertains to Shamrock Company for 2021. Net income for the year   $1,210,000…

A: Earning per share: It is the amount of earning on outstanding per share of common stock.

Q: An entity had issued 950,000 P50-par ordinary shares. Of these, 32,000 shares were held as treasury…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: The N Corporation is authorized to issue 100,000 ordinary shares, P17 par value. At the beginning of…

A: The total contributed capital is the total value of the shares issued at the year-end. The treasury…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.