During 2003, the Ellis Corporation had 370,000 shares of ₱20 par common stock outstanding. On January 1, 2003, 2,000, 8% bonds were issued with a maturity value of ₱1,000 each. To enhance the bond sale, the company offered a conversion of 50 shares of common stock for each bond ay the option of the purchaser. Net income for 2003 was ₱464,000. The income tax rate was 30 percent. REQUIREMENT: Compute the DILUTED EARNINGS PER SHARE OF COMMON STOCK.

Q: Prepare the journal entry to record the original issuance of the convertible debentures. 2. Prepare…

A: 1. Journal entry to record the original issuance of the convertible debentures. Date   Account…

Q: On January 1, 2020, Windsor Company issued 10-year, $ 2,010,000 face value,  6% bonds, at par. Each…

A: No. of potential shares = (Total face value of bonds  / $1000) x 15 = (2010000/1000)*15 = 30150…

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Q: On January 1, 2015, when its $30 par value common stock was selling for $80 per share, a corporation…

A: The question is based on the concept of Financial Accounting.

Q: During the year, Fabi Corporation issued 10,000 ordinary shares with P100 par value and 20,000…

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Q: On January 1, 2020, Coronado Company issued 10-year, $2,060,000 face value, 6% bonds, at par. Each…

A: Diluted Earnings per share: Diluted EPS is a calculation used to gauge the quality of a company's…

Q: On December 31, 2019, VENUS Company had 450,000 shares of ordinary shares outstanding. On September…

A: EPS stands for earnings per share which denotes the earnings which are available to distribute to…

Q: ABC Co. had 200,000 ordinary shares, 20,000 convertible preference shares, and P1,000,000 of 5%…

A: When all convertible securities are exercised, diluted EPS is used to assess the consistency of a…

Q: On January 1, 2018, when its $30 par value common stock was selling for$80 per share, a corporation…

A: Journal entry is the primary reporting of the transactions in the account books.

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A: Diluted Earning Per Share For the Calculation of Diluted earning per share which can be taken…

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Q: Concord Corporation had 199000 shares of common stock, 20700 shares of convertible preferred stock,…

A: The computation of the Basic earnings per share for 2021 is as follows:

Q: Four years after issue, debentures with a face value of $1,000,000 and book value of $960,000 are…

A:

Q: company issued 2 million ordinary shares at a price of RM2 per share. On 30 September 2018, the…

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Q: ABC Co. had 200,000 ordinary shares, 20,000 convertible preference shares, and P1,000,000 of 5%…

A:

Q: Prepare the journal entry to record the original issuance of the convertible debentures. 2. Prepare…

A:

Q: ermin company had 200,000 ordinary shares outstanding on January 1.  In addition, as of January 1,…

A: Solution Concept Basic earning per share                 =net income for common shareholder /…

Q: On January 1, 2020, Bonita Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each…

A: (a)   Calculate Diluted Earnings Per Share for 2020.

Q: On January 1, 2020, Safety Company issued 10,000 P1,000 bonds with 10% stated interest payable every…

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Q: Mae Jong Corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of…

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Q: On January 1, 2025, Ariana Corporation issued its 8%, 5-year convertible debt instrument with a…

A:

Q: WHAT IS THE LEGAL CAPITAL? The Century Philippines Corporation has been authorized to issue 100,000…

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Q: Last year the issued share capital of M Bhd was RM 75,000 divided into 60,000 shares of RM 1.25…

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Q: On January 1, 2022, Shamrock SA issued 10-year, €1,870,000 face value, 6% bonds, at par. Each €1,000…

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Q: At the beginning of the current year, Cove Company, a closely-held entity, issued 6% bonds with a…

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Q: On January 1, 2020, Ayayai Company issued 10-year, $2,140,000 face value, 6% bonds, at par. Each…

A: PLEASE LIKE THE ANSWER  a. the correct answer is = $ 4.84   Calculation OF Diluted earnings per…

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Q: On December 31, 2019, VENUS Company had 450,000 shares of ordinary shares outstanding. On September…

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Q: how much should be the diluted EPS to be presented by VENUS Company for the year ended December 31,…

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Q: Items 21 and 22 are based on the Following Information: Fortunato Company had 200,000 ordinary…

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Q: ABC Co. had 200,000 ordinary shares, 20,000 convertible preference shares, and P1,000,000 of 5%…

A:

Q: Four years after issue, debentures with a face value of $1,000,000 and book value of $960,000 are…

A: