Problem 20-6 (IAA) On January 1, 2021, Judy Company had 200,000 P50 par value ordinary shares outstanding. In addition, on January 1, 2021, the entity had issued 30,000 convertible cumulative 10%'preference shares with P100 par value. These preference shares were converted on September 1, 2021. Each preference share was converted into 5 ordinary shares. The preference dividends for the entire year were paid in full before the conversion. The entity had no other potentially dilutive securities. Net income for the current year was P5,000,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Problem 20-6 (IAA) On January 1, 2021, Judy Company had 200,000 P50 par value ordinary shares outstanding. In addition, on January 1, 2021, the entity had issued 30,000 convertible cumulative 10%'preference shares with P100 par value. These preference shares were converted on September 1, 2021. Each preference share was converted into 5 ordinary shares. The preference dividends for the entire year were paid in full before the conversion. The entity had no other potentially dilutive securities. Net income for the current year was P5,000,000. Required: 1. Basic earnings per share 2. Diluted earnings per share

Name: please answer in good accounting form. thankyou Problem 20-6 (IAA)On J
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Description: please answer in good accounting form. thankyou Problem 20-6 (IAA)On January 1, 2021, Judy Company had 200,000 P50 parordinary shares outstanding.valueIn addition, on January 1, 2021, the entity had issued 30,000convertible cumulative 10%'preference

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 24E

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