Calculate diluted earnings per share for the year ending

Assignment Help Accounting Basics
Reference no: EM132922215

Question - For the year ending 30 June 2020, Helium Ltd earned a net profit after tax amounted to $2 000 000. Dividends on 400 000 convertible, cumulative preference shares amounted to $800 000. The preference shares have been disclosed as equity in the statement of financial position. As at 1 July 2019 there were 600 000 fully paid ordinary shares. There were no additional shares issued during the year.

As at 1 July 2019 there were also:

30 000 ordinary share options currently on issue with an exercise price of $1.50; and

the 400 000 convertible, cumulative preference shares issued are convertible into a total of 160 000 ordinary shares at the option of the preference shareholders.

Additional Information - The company tax rate is 30% and the average market price for ordinary shares during the year was $2.00.

Required - Calculate diluted earnings per share for the year ending 30 June 2020. Show all workings and steps required in determining diluted earnings per share.

Reference no: EM132922215

Questions Cloud

What the tek- a tech-service : What the Tek- A tech-service that will come to your house to help with even the simplest tech stuff such as getting your cable box and tv synched, setting up a
Why is it important to have a contract in business : Why is it important to have a contract in business especially with the errors and irregularirites in transaction cycles of the business entity?
What is the best way for companies : -What can we learn from the ALS Ice Bucket Challenge and Coca Cola's Artic Home Campaign that will help us with creating a successful CSR awareness campaign?
What is the dividend yield : Shares of ABT stock offer an expected total return of 14.6 percent. What is the dividend yield if the dividend increases by 2.8 percent annually?
Calculate diluted earnings per share for the year ending : Calculate diluted earnings per share for the year ending 30 June 2020. Show all workings and steps required in determining diluted earnings per share
Groups and teams impact health care organizations : How do groups and teams impact health care organizations? What has been your experience working with teams in the workplace?
Discuss the arguments for banking regulation : Discuss the arguments for banking regulation and explain the role of the risk assets ratio in capital adequacy regulation
What is the amount of discretionary financing needed : Long-term debt is $90 million. Additionally, the firm raised $12.9 million of equity capital. What is the amount of discretionary financing needed
Wynn regional medical center : How do you plan on finding a qualified HR Director? Where will you advertise the position? What are you looking for in a qualified candidate?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the amount novak should report

Compute the amount Novak should report as net cash provided (used) by investing activities in its 2017 statement of cash flows

  Although uncertainty surrounds any future event your

you have been given the opportunity to invest 1000 on january 1 2010. although uncertainty surrounds any future event

  What amount represents the bad debt expense

The company estimates that 6% of outstanding accounts receivable will be uncollectible. What amount represents the bad debt expense for the year end December

  Direct labor made up 8000 of the 40000 ending work in

the pacific manufacturing company operates a job order costing system and applies overhead cost to the jobs on the

  Predict the break even point for prodcut

a. Predict the break even point for Prodcut A in terms of [a] units and b dollars of sales. b. Prepare an income statement showing sales, fixed costs, and variable costs for product A at the break even point.

  What is the role of auditors in attesting to sea data

What is "overlapping debt" and why is it important to financial analysts and others who use government financial statements?

  What amount should Carter report as net cash

A patent for $16.0 million, $18.0 million, and $13.0 million, respectively. What amount should Carter report as net cash from ?nancing activities

  Determine the Seat net income

The net cash provided by operating activities in Seat's statement of cash flows for 2019 was $8,000,000. Determine the Seat net income

  How would you respond to Paul Laurel request

Paul: Well, as you know, I'm applying for a bank loan to finance our new store in Clinton, How would you respond to Paul Laurel request

  What is the depreciation charge for marian company

Inclusive of inflation, the actual amount expected to be received on disposal was estimated at P900,000. What is the depreciation charge for 2013?

  Several cloud-based data solutions currently available

several cloud-based data solutions currently available in the marketplace

  Discuss what is the companys predetermined overhead rate

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd