Gin Company had the following capital structure during the current year: Preference share capital, P10 par, 4% cumulative, 25,000 shares issued and outstanding-250,000 Ordinary share capital, P5 par, 200,000 shares issued and outstanding-1,000,000 The entity reported net income of P500,000 for the current year: The entity paid no preference dividends during the prior year and paid P16,000 in preference dividends during the current year. What amount should be reported as basic earnings per share? a. 2.42 b. 2.45 c. 2.48 d. 2.50

Gin Company had the following capital structure during the current year: Preference share capital, P10 par, 4% cumulative, 25,000 shares issued and outstanding-250,000 Ordinary share capital, P5 par, 200,000 shares issued and outstanding-1,000,000 The entity reported net income of P500,000 for the current year: The entity paid no preference dividends during the prior year and paid P16,000 in preference dividends during the current year. What amount should be reported as basic earnings per share? a. 2.42 b. 2.45 c. 2.48 d. 2.50

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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Correct
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