Problem 20-5 (AICPA Adapted) Petrock Company provided the following information at year-end: 2020 2021 Ordinary share capital Convertihle preference share capital 90,000 shares 10,000 shares 10,000 shares 90,000 shares During 2021, the.entity paid dividends of P10 per ordinary share and P24 per preference share. The preference share capital is convertible into 20,000 ordinary shares. The net income for 2021 was P2,850,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Problem 20-5 (AICPA Adapted) Petrock Company provided the following information at year-end: 2020 2021 Ordinary share capital Convertihle preference share capital 90,000 shares 10,000 shares 10,000 shares 90,000 shares During 2021, the.entity paid dividends of P10 per ordinary share and P24 per preference share. The preference share capital is convertible into 20,000 ordinary shares. The net income for 2021 was P2,850,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

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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