Ericka Co. has the following share capital outstanding during 20x1 and 20x2 : Preference shares - P100 par , 10% cumulative 2, 000, 000 Ordinary shares - P50 par 5, 000, 000 Ericka reported profit of 4,000,000 for the year ended December 31, 20x2 . Ericka paid no preferred dividends during 20x1 and paid 200,000 in preferred dividends during 20x2. What basic earnings per share is presentec in Ericka December 31, 20x2 statement of profit or loss ?

Ericka Co. has the following share capital outstanding during 20x1 and 20x2 : Preference shares - P100 par , 10% cumulative 2, 000, 000 Ordinary shares - P50 par 5, 000, 000 Ericka reported profit of 4,000,000 for the year ended December 31, 20x2 . Ericka paid no preferred dividends during 20x1 and paid 200,000 in preferred dividends during 20x2. What basic earnings per share is presentec in Ericka December 31, 20x2 statement of profit or loss ?

Name: Ericka Co. has the following share capitaloutstanding during 20x1 and
Uploaded: 2022-11-04T13:36:16.000Z
Channel: Bartleby
Description: Ericka Co. has the following share capitaloutstanding during 20x1 and 20x2 :Preference shares - P100 par , 10%cumulative 2, 000, 000Ordinary shares - P50 par 5, 000, 000Ericka reported profit of 4,000,000 for theyear ended December 31, 20x2 .Ericka

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Urmilaben
CT, Inc. has 10,000 shares of 8% P50 par preference shares and 100,000 shares of P4par ordinary shares outstanding. Two years’ preference dividends are in arrears. It declared cash dividends large enough to pay preference dividend in arrears, the preference dividends for the current period, and a P1.50 dividend to ordinary. What is the total amount oft he dividend?
Thunder Yard's total stockholders' Equity is P5,600.000, comprised of the following: • P1,000,000 in 8% cumulative preferred stock consisting of shares of P100 par value • P1,800,000 in Ordinary Shares of P5 par value per share issued at P8 • P1,600,000 in additional Paid in capital P1,200,000 in retained earnings There is a Dividend in Arrears for 2 years 1. Compute for Number of shares of Preferred Stock 2. Compute for Additional Paid In Capital: Preferred Stock 3. Book Value Per Share Ordinary Shares (Round-off Answer to two decimal places)
Tezos Co. reported the following capital structure at the beginning of the current year: Ordinary share capital, 200,000 shares issued and outstanding; Preference share capital, 50,000 shares issued and outstanding On January 3, the company declared at 10% share dividend on ordinary shares and a P200,000 cash dividend on preference shares. The preference shares are non-cumulative, non-participating. At the end of the current year, net income amounted to P1.92 million. What is the appropriate amount to report as basic earnings per share?
17. Graniel Couture has $260,000 of 8% noncumulative, preferred stock outstanding. Graniel Couture also has $80,000 of common stock outstanding. The company paid cash dividends of $56,000 during the year. This dividend should be distributed as follows: a. $20,800 common; $35,200 preferred; b. $56,000 preferred; $0 common. c. $20,800 preferred; $35,200 common. d. $0 preferred; $56,000 common. e. $28,000 preferred; $28,000 common.
Windborn Company has 20,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $80,000 20Y2 20,000 20Y3 120,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
For the year 20X1, Trinity Ltd., a company based in Barrie, had net income of $4,000,000 and there were no discontinued operations. During 20X1, the company had two classes of shares outstanding: Class A preferred shares: 1,200 shares issued and outstanding at the beginning of the year; quarterly dividend rate of $100 per share; cumulative; each share is convertible into 50 shares of Class B common. Class B common shares: 150,000 shares issued and outstanding at the beginning of the year. Also note the following: 700 shares of Class A were converted into Class B shares on April 1 20X1; dividends for the first quarter of the year were paid on March 31 20X1. Options to issue 8,000 common shares to senior management personnel for $4 per share were outstanding during the entire year. The average share price during the year was $12. Required: (a) Determine the weighted-average number of shares outstanding during 20X1. (b) Determine basic EPS. (c) Determine diluted EPS.