DIMACULANGAN COMPANYDimaculangan Company has 50,000 ordinary shares outstanding on December 31, 2X19. During the same year, the company has a net income amounting to P1,000,000. Compute the basic EPS in the following independent scenarios:There are no preference sharesDimaculangan issued 10,000 shares of 10%, 100 par, cumulative, preferenceDimaculangan issued 10,000 shares of 10%, 100 par, noncumulative, preference shares, and declared dividends on the preference shares amounting to P300,000.

Basic EPS is earnings per share which is being earned by the shareholder by purchasing shares of the…

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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DIMACULANGAN COMPANY

Dimaculangan Company has 50,000 ordinary shares outstanding on December 31, 2X19. During the same year, the company has a net income amounting to P1,000,000. Compute the basic EPS in the following independent scenarios:

There are no preference shares
Dimaculangan issued 10,000 shares of 10%, 100 par, cumulative, preference
Dimaculangan issued 10,000 shares of 10%, 100 par, noncumulative, preference shares, and declared dividends on the preference shares amounting to P300,000.

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