Katrina Company reported the following information at the end of reporting period: 1,500,000 Bonds payable – 10% Preference share capital, 12% cumulative, P100 par, 30,000 shares Ordinary share capital, 100,000 shares, P50 par 3,000,000 5,000,000 The bonds are convertible into ordinary shares in the ratio of 20 ordinary shares for every P1,000 bond. The preference share is convertible into ordinary share in the ratio of two ordinary shares for one preference share. The net income for the year was P3,695,000 and the income tax rate is 30%. Required: 1. Basic earnings per share 2. Diluted earnings per share
Katrina Company reported the following information at the end of reporting period: 1,500,000 Bonds payable – 10% Preference share capital, 12% cumulative, P100 par, 30,000 shares Ordinary share capital, 100,000 shares, P50 par 3,000,000 5,000,000 The bonds are convertible into ordinary shares in the ratio of 20 ordinary shares for every P1,000 bond. The preference share is convertible into ordinary share in the ratio of two ordinary shares for one preference share. The net income for the year was P3,695,000 and the income tax rate is 30%. 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
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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