Bacoor Company had 2,500,000 ordinary shares outstanding on January 1, 2021. An additional 500,000 ordinary shares were issued on April 1, 2021 and 250,000 shares on July 1, 2021. On October 1, 2021, the entity issued 5,000 P1,000 face value, 7% convertible bonds. Each bond is convertible into 40 ordinary shares. No bonds were converted into ordinary shares in 2021. What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively? 2,875,000 and 2,925,000 2,875,000 and 3,075,000 3,000,000 and 3,050,000 3,000,000 and 3,200,000

Bacoor Company had 2,500,000 ordinary shares outstanding on January 1, 2021. An additional 500,000 ordinary shares were issued on April 1, 2021 and 250,000 shares on July 1, 2021. On October 1, 2021, the entity issued 5,000 P1,000 face value, 7% convertible bonds. Each bond is convertible into 40 ordinary shares. No bonds were converted into ordinary shares in 2021. What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively? 2,875,000 and 2,925,000 2,875,000 and 3,075,000 3,000,000 and 3,050,000 3,000,000 and 3,200,000

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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