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At the beginning of current year, BLACKPINK Company had 480,000 $60 par value ordinary shares and 100,000, 10% 100 par value convertible cumulative preference shares outstanding. The preference shares are convertible into 100,000 ordinary shares before share dividend and share split. During the current year, the following transactions affected the ordinary shares. February 1 Issued 120,000 shares March 1 Issued a 20% share dividend May 31 Acquired 100,000 treasury shares Issued 3 for 1 share split June 1 October 31 Reissued 60,000 treasury shares The net income was $35,000,000 and the entity did not declare dividend on preference shares.

At the beginning of current year, BLACKPINK Company had 480,000 $60 par value ordinary shares and 100,000, 10% 100 par value convertible cumulative preference shares outstanding. The preference shares are convertible into 100,000 ordinary shares before share dividend and share split. During the current year, the following transactions affected the ordinary shares. February 1 Issued 120,000 shares March 1 Issued a 20% share dividend May 31 Acquired 100,000 treasury shares Issued 3 for 1 share split June 1 October 31 Reissued 60,000 treasury shares The net income was $35,000,000 and the entity did not declare dividend on preference shares.

Intermediate Accounting: Reporting And Analysis
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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Please answer in good accounting form. Thank you.

1.  What is the weighted average number of ordinary shares outstanding that should be used for the computation of book value per share and basic earnings per share?

2.  What is the diluted earnings per share?(Present answer in 2 decimal places, example: x.xx)

At the beginning of current year, BLACKPINK Company had 480,000 $60 par value ordinary shares and 100,000, 10% 100 par value convertible cumulative preference shares outstanding. The preference shares are convertible into 100,000 ordinary shares before share dividend and share split. During the current year, the following transactions affected the ordinary shares. February 1 Issued 120,000 shares March 1 Issued a 20% share dividend May 31 Acquired 100,000 treasury shares Issued 3 for 1 share split June 1 October 31 Reissued 60,000 treasury shares The net income was $35,000,000 and the entity did not declare dividend on preference shares.
Transcribed Image Text:At the beginning of current year, BLACKPINK Company had 480,000 $60 par value ordinary shares and 100,000, 10% 100 par value convertible cumulative preference shares outstanding. The preference shares are convertible into 100,000 ordinary shares before share dividend and share split. During the current year, the following transactions affected the ordinary shares. February 1 Issued 120,000 shares March 1 Issued a 20% share dividend May 31 Acquired 100,000 treasury shares Issued 3 for 1 share split June 1 October 31 Reissued 60,000 treasury shares The net income was $35,000,000 and the entity did not declare dividend on preference shares.
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