What amount should be reported as basic earnings per share?a. 11.45b. 11.88c. 10.33d. 10.80 What amount should be reported as diluted earnings per share?a. 8.30b. 8.44c. 8.34d. 8.49 May 1 Issued 60,000 ordinary shares for P30 per share.Atlantic Company provided the following information at theP1,000 bond is convertible into 80 ordinary sharesbeginning of the current year:12% convertible bonds issued at face amount, eachOrdinary share capital, P10 par value, 800,000 shares 8,000,0005,000,000M 1 Purchased 100,000 treasury ordinary shares at P35per share.Oct 1 Converted P2,000,000 face amount of bonds.Dec. 31 Net income for the year was P9,500,000. The taxrate is 30%.

Given that, Net income for the year = P9,500,000 Tax rate = 30% Ordinary share outstanding at…

ded the following information at the Atla beginning of the current year: 12% convertible bonds issued at face amount, each May 1 Issued 60,000 ordinary shares for P30 per share. P1,000 bond is convertible into 80 ordinary shares Ordinary share capital, P10 par value, 800,000 shares 8,000,000 P1 000 bond is convertible into 80 ordinary shares 5,000,000 1 Purchased 100,000 treasury ordinary shares at P35 per share. Oct. 1 Converted P2,000,000 face amount of bonds. Dec. 31 Net income for the year was P9,500,000. The tax rate is 30%.

ded the following information at the Atla beginning of the current year: 12% convertible bonds issued at face amount, each May 1 Issued 60,000 ordinary shares for P30 per share. P1,000 bond is convertible into 80 ordinary shares Ordinary share capital, P10 par value, 800,000 shares 8,000,000 P1 000 bond is convertible into 80 ordinary shares 5,000,000 1 Purchased 100,000 treasury ordinary shares at P35 per share. Oct. 1 Converted P2,000,000 face amount of bonds. Dec. 31 Net income for the year was P9,500,000. The tax rate is 30%.

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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