On December 31, 20x2, Preacher, Inc. had 500,000 ordinary shares outstanding. The following transactions occurred during 20x3: a. Issued 180,000 shares to key employees as compensation for their past services to the company on February 28, 20x3. b. Issued a 10% dividend on March 31, 20x3. C. Issued 200,000 ordinary shares for cash on June 30, 20x3. D. Declared a 2-for-1 stock split on October 1, 20x3. E.Declared cash dividends of P5 per share on November 1,20x3. F.Reacquired 60,000 treasury shares on December 1, 20x3. Requirement: What number of shares should be used in computing hasic earnings per share for the year ended
On December 31, 20x2, Preacher, Inc. had 500,000 ordinary shares outstanding. The following transactions occurred during 20x3: a. Issued 180,000 shares to key employees as compensation for their past services to the company on February 28, 20x3. b. Issued a 10% dividend on March 31, 20x3. C. Issued 200,000 ordinary shares for cash on June 30, 20x3. D. Declared a 2-for-1 stock split on October 1, 20x3. E.Declared cash dividends of P5 per share on November 1,20x3. F.Reacquired 60,000 treasury shares on December 1, 20x3. Requirement: What number of shares should be used in computing hasic earnings per share for the year ended
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On December 31, 20x2, Preacher, Inc. had 500,000 ordinary shares outstanding. The following transactions occurred during 20x3:
a. Issued 180,000 shares to key employees as compensation for their past services to the company on February 28, 20x3.
b. Issued a 10% dividend on March 31, 20x3.
C. Issued 200,000 ordinary shares for cash on June 30, 20x3.
D. Declared a 2-for-1 stock split on October 1, 20x3.
E.Declared cash dividends of P5 per share on November 1,20x3.
F.Reacquired 60,000 treasury shares on December 1, 20x3.
Requirement: What number of shares should be used in computing hasic earnings per share for the year ended
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education