C. Utter Space Corp. had the following securities outstanding at the beginning of the current year: 10% convertible bonds payable, each P1,000 bond convertible into 10 ordinary shares or a total of P40,000 ordinary shares. Ordinary shares capital, P100 par, 250,000 shares Authorized, 100,000 shares issued Net Income 4,000,000 10,000,000 5,000,000 Income tax rate 30% Required: Compute for Basic Earnings Per Share and Diluted Earnings Per Share

C. Utter Space Corp. had the following securities outstanding at the beginning of the current year: 10% convertible bonds payable, each P1,000 bond convertible into 10 ordinary shares or a total of P40,000 ordinary shares. Ordinary shares capital, P100 par, 250,000 shares Authorized, 100,000 shares issued Net Income 4,000,000 10,000,000 5,000,000 Income tax rate 30% Required: Compute for Basic Earnings Per Share and 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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