1. What amount should be reported as basic EPS for 2022 Problem 19-16 (AICPA Adapted) Strauch Company had one class of share capital outstanding and no other securities that are potentially convertible into ordinary shares. During 2021, 120,000 shares were outstanding. 2. What amount should be reported as basic EPS for 2021 On April 1, 2022, 40,000 shares of treasury were sold, and on July 1, 2022, a 2-for-1 share split was issued. Net income was P6,000,000 in 2022 and P3,600,000 in 202l. 1. What amount should be reported as basic EPS for 2022 in the 2022 comparative income statement? а. 25.00 b. 20.00 c. 18.75 d. 37.50 2. What amount should be reported as basic EPS for 202. in the 2022 comparative income statement? а. 30,00 b. 15.00 с. 45.00 d. 22.50

1. What amount should be reported as basic EPS for 2022 Problem 19-16 (AICPA Adapted) Strauch Company had one class of share capital outstanding and no other securities that are potentially convertible into ordinary shares. During 2021, 120,000 shares were outstanding. 2. What amount should be reported as basic EPS for 2021 On April 1, 2022, 40,000 shares of treasury were sold, and on July 1, 2022, a 2-for-1 share split was issued. Net income was P6,000,000 in 2022 and P3,600,000 in 202l. 1. What amount should be reported as basic EPS for 2022 in the 2022 comparative income statement? а. 25.00 b. 20.00 c. 18.75 d. 37.50 2. What amount should be reported as basic EPS for 202. in the 2022 comparative income statement? а. 30,00 b. 15.00 с. 45.00 d. 22.50

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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7. How much is the Retained earnings, BEGINNING, unrestricted?
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Required Information [The following information applies to the questions displayed below.] On January 1, 2019, Metco Inc. reported 273,000 shares of $2 par value common stock as being issued and outstanding. On March 24, 2019, Metco Inc. purchased for its treasury 3,900 shares of its common stock at a price of $36.00 per share. On August 19, 2019, 850 of these treasury shares were sold for $42.50 per share. Metco's directors declared cash dividends of $0.80 per share during the second quarter and again during the fourth quarter, payable on June 30, 2019. and December 31, 2019, respectively. A 2% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year. Required: a-1. Use the horizontal model for the treasury stock purchase on March 24, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to Indicate a negative financial statement effect.) Assets Balance Sheet Liabilities + Stockholders' Equity…
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4. How much is the TOTAL share premium? 5. How much is the TOTAL treasury share capital? 6. How much is the Retained earnings, END?
Part B During 2023, the Nicklaus Corporation participated in three treasury shares transactions: On June 30, 2023, the corporation reacquires 200,000 shares for the treasury at a price of $12 a. per share. b. On July 3, 2023, 50,000 treasury shares are reissued at $15 per share. c. On September 30, 2023, 50,000 treasury shares are reissued at $10 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a statement of financial position prepared at September 30, 2023. (Assume that net profit for the second and third quarters combined was $3,000,000.)