User Account

All Pages

Determine the amount of diluted earnings per share

Assignment Help Accounting Basics
Reference no: EM132718460

Question - On January 1, 2X16, Manila Co. has 100,000 outstanding ordinary shares. During the year, Manila Co. reported a net income of P5,000,000. The income tax rate is 30%. Besides, Manila Co. has 4,000, 10% convertible bonds with 1,000 face amount. Each bond is convertible into five (5) ordinary shares.

Required - Solve for the following:

1. Determine the amount of basic earnings per share for the year.

2. Determine the amount of diluted earnings per share under each of the following scenarios.

a. Bonds were issued on January 1, 2X16, and there were no conversions made during the year.

b. Bonds were issued on April 1, 2X16, and there were no conversions made during the year.

c. Bonds were issued in the previous year and were converted on October 1, 2X16.

Reference no: EM132718460

Questions Cloud

Reflect on the role of a nurse leader as a knowledge worker : The term "knowledge worker" was first coined by management consultant and author Peter Drucker in his book, The Landmarks of Tomorrow (1959).
Evaluate the teleological argument for god existence : Evaluate the Teleological argument for God's existence and evaluate its strengths and weaknesses as an empirical argument.
What is the company Net Income : Total Assets of $26.5 million, and Total Debt of $11.3 million. The company's Profit Margin is 6 percent. What is the company Net Income
Suggestive motivating factors at krs : Case - KRS Home Care Inc. Suggestive Motivating Factors at KRS
Determine the amount of diluted earnings per share : Besides, Manila Co. has 4,000, 10% convertible bonds with 1,000 face amount. Determine the amount of diluted earnings per share
Define how ebp might impact the quadruple aim in healthcare : Reflect on how EBP might impact (or not impact) the Quadruple Aim in healthcare. Consider the impact that EBP may have on factors impacting these quadruple aim.
Demonstrate the complex relationships in the family : Your task is to find quotations that demonstrate the complex relationships in the family. Please search for quotations that either:
Calculate the amount of interest expense that will appear : On January 1, 2021, the company obtained a $3 million construction loan with a 12% interest rate. Calculate the amount of interest expense that will appear

Reviews

Write a Review

Accounting Basics Questions & Answers

  Estimated mean difference in page

a) Find the estimated mean difference in page visits be- tween the two websites. b) Find the standard error of the estimated mean difference. c) Calculate the t-statistic  for  the  observed difference in mean page visits assuming that the true mean ..

  Total proceeds of the bond issue at the time of sale

The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale?

  How much weight would each casher carry

How Big a Bag Do I Need? On November 8, 2008, within a 30-minute period, dozens of criminal "cashers" in the United States, Hong Kong, and Russia withdrew.

  Discuss the transfer-pricing issues

Discuss the transfer-pricing issues that both the Computer Equipment Division manager and the Consulting Division manager should consider

  Journalize the reversing entries

(a) Journalize the adjusting entries at December 31, the end of the current fiscal year, and

  What rate of return must earn on that savings to hit

Assuming that you currently (i.e., today) have $5,000 in savings, what rate of return must you earn on that savings to hit your goal?

  Prepare the adjusting entry at December

Question - At December 31, 2020, the trading securities for Paul Company. Prepare adjusting entry at December 31, 2020, to report the securities at fair value

  What is the present value of Rivera penalty

Rivera pays the penalty five years after committing the fraudulent act. Her after-tax rate of return on available cash is 9%. What is the present value

  Determine the level of dollar sales needed to double

Calculate the company's current income and determine the level of dollar sales needed to double that figure

  Managerial accounting involves planning and organizing

Managerial accounting involves planning, organizing, and controlling. Explain these activities and then explain why these phases are referred to as a continuous

  What is the annual breakeven point

Fixed marketing and administrative costs $870 000 each year. What is the annual breakeven point? Express your answer using numbers of windows sold

  For this interview pose the following questions to your

for this interview pose the following questions to your intervieweehow has having a cpa certification or consulting

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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