On January 1, 2021, Simple Company provided the followinginformation.Ordinary share capital, P100, 100,000 shares12% bonds payable issued at face amount,each P1,000 bond is convertible into 20ordinary shares10,000,0004,000,000On April 1, 2021, bonds with face amount of P3,000,000 wereactually converted into ordinary share.The net income for the current year was P2,320,000 and theincome tax rate is 30%.Required:1. Basic earnings per share2. Diluted earnings per share

Earning Per Share: Net profit divided by the number of common shares issued and outstanding is the…

On January 1, 2021, Simple Company pre information. 10,000,000 Ordinary share capital, P100, 100,000 shares 12% bonds payable issued at face amount, each P1,000 bond is convertible into 20 ordinary shares 4,000,000 On April 1, 2021, bonds with face amount of P3,000,000 were actually converted into ordinary share. The net income for the current year was P2,320,000 and the income tax rate is 30%. Required: 1. Basic earnings per share 2. Diluted earnings per share

On January 1, 2021, Simple Company pre information. 10,000,000 Ordinary share capital, P100, 100,000 shares 12% bonds payable issued at face amount, each P1,000 bond is convertible into 20 ordinary shares 4,000,000 On April 1, 2021, bonds with face amount of P3,000,000 were actually converted into ordinary share. The net income for the current year was P2,320,000 and the income tax rate is 30%. Required: 1. Basic earnings per share 2. Diluted earnings per share

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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Problem: Earnings per Share. (Pls help and provide supporting computations)