Problem 20-6 (IAA) On January 1, 2021, Judy Company had 200,000 P50 par value ordinary shares outstanding. In addition, on January 1, 2021, the entity had issued 30,000 convertible cumulative 10%'preference shares with P100 par value. These preference shares were converted on September 1, 2021. Each preference share was converted into 5 ordinary shares. The preference dividends for the entire year were paid in full before the conversion. The entity had no other potentially dilutive securities. Net income for the current year was P5,000,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Problem 20-6 (IAA) On January 1, 2021, Judy Company had 200,000 P50 par value ordinary shares outstanding. In addition, on January 1, 2021, the entity had issued 30,000 convertible cumulative 10%'preference shares with P100 par value. These preference shares were converted on September 1, 2021. Each preference share was converted into 5 ordinary shares. The preference dividends for the entire year were paid in full before the conversion. The entity had no other potentially dilutive securities. Net income for the current year was P5,000,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Name: please answer in good accounting form. thankyou Problem 20-6 (IAA)On J
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Description: please answer in good accounting form. thankyou Problem 20-6 (IAA)On January 1, 2021, Judy Company had 200,000 P50 parordinary shares outstanding.valueIn addition, on January 1, 2021, the entity had issued 30,000convertible cumulative 10%'preference

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 27CE: Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common...

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Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions took place during 2019, the first year of the corporations existence: Sold 5,000 shares of common stock for 18 per share. Issued 5,000 shares of common stock in exchange for a patent valued at 100,000. At the end of Carys first year, total contributed capital amounted to: a. 40,000 b. 90,000 c. 100,000 d. 190,000
Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and outstand ing $5 par common shares. During 2019, Fusion entered into the following transactions: Declared a S0.30 per-share cash dividend on March 10. Paid the $0.30 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $18 each on May 2. Sold 1.500 unissued common shares for $23 per share on June 9. Declared a $0.45 per-share cash dividend on August 10. Paid the $0.45 per-share dividend on September 10. Declared and paid a 5% stock dividend on October 15 when the market price of the common stock was $25 per share. Declared a $0.50 per-share cash dividend on November 10. Paid the $0.50 per-share dividend on December 10. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) Determine the total dollar amount of dividends (cash and stock) for the year. CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.
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