On January 1, ABC Company has 100,000 outstanding ordinary shares. During the year, ABC reported net income of P 5,000,000. Income tax rate is 30%. In addition, ABC issued on April 1 4,000 P 100 par 10% cumulative preference shares. Each preference share is convertible into 5 ordinary shares. How much is the basic earnings per share?
On January 1, ABC Company has 100,000 outstanding ordinary shares. During the year, ABC reported net income of P 5,000,000. Income tax rate is 30%. In addition, ABC issued on April 1 4,000 P 100 par 10% cumulative preference shares. Each preference share is convertible into 5 ordinary shares. How much is the basic earnings per share?
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10EB: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first...
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On January 1, ABC Company has 100,000 outstanding ordinary shares. During the year, ABC reported net income of P 5,000,000. Income tax rate is 30%.
In addition, ABC issued on April 1 4,000 P 100 par 10% cumulative preference shares. Each
How much is the basic earnings per share?
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