1. On December 31, 2021 and 2020, Go Company had 100,000 ordinary shares and10,000 cumulative preference shares of 6%, P100 par value. No dividends weredeclared on either the preference or ordinary share in 2021 or 2020. Net income for thecurrent year was P800,000. What amount should be reported as basic earnings pershare?a. 7.40b. 8.50c. 7.50d. 7.902. JAX Company had 200,000 ordinary shares of P20 par value and 20,000 shares ofP100 par, 6% cumulative, convertible preference share capital outstanding for theentire year ended December 31, 2021. Each preference share is convertible into 4ordinary shares. The net income for 2021 was P840,000. What amount should bereported as diluted earnings per share?a. 2.80b. 1.90c.3.00d. 3.203. Laura Company carried a provision of P2,000,000 in the draft financial statementson December 31, 2021 in relation to an unresolved court case. On January 31, 2022,when the financial statements on December 31, 2021 had not yet been authorized forissue, the case was settled and the court decided the final total damages payable byAurora to be P2,800,000. What amount should be adjusted on December 31, 2021 inrelation to this event?a. increase in asset of P800,000b. increase in liability of P500,000c. increase in asset of 500,000d. increase in liability of P800,000

Dividend means the amount given to shareholder of the company as profit distribution by company.…

Answered: 1. On December 31, 2021 and 2020, Go…

Cornerstones of Financial Accounting

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Chapter10: Stockholder's Equity

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Problem 76E

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Based on the given data, what is the returns for Company JFC? Company Dec. 30, 2020 Dec. 29, 2019 Dividends Returns (%) AC 395.00 301.00 5.00 JFC 88.90 55.00 2.50 O a. 66.18% Ob. 19.19% Oc. 32.89% d. 26.80%
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The following information pertains to BTS Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?

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