The following information extracts from Yoyo Bhd's financial statements: (i) Extracts from the Yoyo's statement of financial position as at 1 November 2019: Ordinary shares capital RM'000 70,000 6% Convertible Preference shares 6%% Bank Loan 12,000 6,000 Notes: (1) Issued share capital on 1 November 2019 comprise 50 million ordinary shares and 12 million cumulative preference shares. (2) The preference shares are convertible into ordinary shares at the option of the preference shareholder on the basis of 4 preference shares for each ordinary share issued. (3) Bank Loan will be repayable at 31 March 2026. (ii) Extracts from the statements of profit or loss of Yoyo Bhd for the years ending 31 October 2020 and 2021: 2020 2021 RM'000 RM000 Profit before tax 54,600 72,100 Taxation 13,100 17,300 Non-controlling interest 9,800 11,400 Preference dividends (1,080) (720) Ordinary dividends (2,100) (3,150) (iii) Changes in capital structure during the years ended 31 October 2020 and 2021 are as follows: (1) On 31 March 2020, the company issued 20 million ordinary shares for cash at fair market value of RM3.38. (2) On 1 October 2020, the company made a bonus issue of one ordinary share for every five shares presently held. (3) On 1 November 2020, the company issued RM8 million 7% convertible loan notes. The conversion rate was 70 ordinary shares for every RM250 loan notes. (4) On 1 August 2021, the company made rights issue of one ordinary share for every four held at RM2.60 each. The market price of each ordinary share immediately before the issue was RM3.50. (iv) The basic EPS for the year ended 31 October 2019 was 48.40 sen. (v) Tax rate is 25%. Required: Calculate the basic and diluted earnings per share for the years ended 31 October 2020 and 2021, restating earnings per share where necessary.
The following information extracts from Yoyo Bhd's financial statements: (i) Extracts from the Yoyo's statement of financial position as at 1 November 2019: Ordinary shares capital RM'000 70,000 6% Convertible Preference shares 6%% Bank Loan 12,000 6,000 Notes: (1) Issued share capital on 1 November 2019 comprise 50 million ordinary shares and 12 million cumulative preference shares. (2) The preference shares are convertible into ordinary shares at the option of the preference shareholder on the basis of 4 preference shares for each ordinary share issued. (3) Bank Loan will be repayable at 31 March 2026. (ii) Extracts from the statements of profit or loss of Yoyo Bhd for the years ending 31 October 2020 and 2021: 2020 2021 RM'000 RM000 Profit before tax 54,600 72,100 Taxation 13,100 17,300 Non-controlling interest 9,800 11,400 Preference dividends (1,080) (720) Ordinary dividends (2,100) (3,150) (iii) Changes in capital structure during the years ended 31 October 2020 and 2021 are as follows: (1) On 31 March 2020, the company issued 20 million ordinary shares for cash at fair market value of RM3.38. (2) On 1 October 2020, the company made a bonus issue of one ordinary share for every five shares presently held. (3) On 1 November 2020, the company issued RM8 million 7% convertible loan notes. The conversion rate was 70 ordinary shares for every RM250 loan notes. (4) On 1 August 2021, the company made rights issue of one ordinary share for every four held at RM2.60 each. The market price of each ordinary share immediately before the issue was RM3.50. (iv) The basic EPS for the year ended 31 October 2019 was 48.40 sen. (v) Tax rate is 25%. Required: Calculate the basic and diluted earnings per share for the years ended 31 October 2020 and 2021, restating earnings per share where necessary.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:The following information extracts from Yoyo Bhd's financial statements:
() Extracts from the Yoyo's statement of financial position as at 1 November 2019:
RM 000
Ordinary shares capital
6% Convertible Preference shares
70,000
12,000
6,000
6% Bank Loan
Notes:
(1) Issued share capital on 1 November 2019 comprise 50 million ordinary shares and 12
million cumulative preference shares.
(2) The preference shares are convertible into ordinary shares at the option of the
preference sharcholder on the basis of 4 preference shares for each ordinary share
issued.
(3) Bank Loan will be repayable at 31 March 2026.
(ii) Extracts from the statements of profit or loss of Yoyo Bhd for the years ending 31 October
2020 and 2021:
2020
2021
RM'000
RM000
Profit before tax
54,600
72,100
Тахation
13,100
17,300
Non-controlling interest
9,800
11,400
Preference dividends
(1,080)
(720)
Ordinary dividends
(2,100)
(3,150)
(ii) Changes in capital structure during the years ended 31 October 2020 and 2021 are as
follows:
(1) On 31 March 2020, the company issued 20 million ordinary shares for cash at fair
market value of RM3.38.
(2) On 1 October 2020, the company made a bonus issue of one ordinary share for every
five shares presently held.
(3) On 1 November 2020, the company issued RM8 million 7% convertible loan notes.
The conversion rate was 70 ordinary shares for every RM250 loan notes.
(4) On I August 2021, the company made rights issue of one ordinary share for every four
held at RM2.60 cach. The market price of cach ordinary share immediately before the
issue was RM3.50.
(iv) The basic EPS for the year ended 31 October 2019 was 48.40 sen.
(v) Tax rate is 25%.
Required:
Calculate the basic and diluted carnings per share for the years ended 31 October 2020 and
2021, restating carnings per share where necessary.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
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