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Question - Soulful Company had on class of ordinary share outstanding and no other securities that are potentially convertible into ordinary shares. During 2020, 1,000,000 shares of ordinary shares were outstanding. In 2021, two distributions of additional ordinary shares occurred: on May 1, 300,000 unissued ordinary shares were sold, and on July 1, a 2-for-1stock split was issued. Net income for 2021 was P15,000,000 and P12,000,000 for 2020. What amounts should Soulful report as earnings per share in its 2021 and 2020 comparative profit and loss statements?
Glen and Diane Okumura (both age 48) are married, file a joint return, and live at 39 Kaloa Street, Honolulu, HI 96815. Gen's Social Security number is 111-11-1111, and Diane's is 123-45-6789. Glen earned $57,000 in wages and had Federal income tax w..
Prepare the entry to record the interest expense at April 1, 2021. Assume that interest payable was credited when the bonds were issued
Find basic and diluted EPS (two EPS calculations) for the year ended December 31, 2021. (Show all work for full credit. Round your answers )
Management was also considering making PLC into a franchise. Discuss the financial reporting issues involved in the three alternatives outlined above
Use the given information to complete Phillip and Claire Dunphy's 2012 federal income tax return.
Compute the fixed charge coverage ratio. Compute the times interest earned. Solvency ratios assess the long-term financial viability of a business
You want to form a value–weighted technology stock index using Apple, Google, and Yahoo. Apple's adjusted closing price for 2015 is $112.75 and for 2014 is $100.78;The additional information that you gathered is their market values at the end of 2014..
What is Brady's net income from the property and what type and amount of expenses will he carry forward to next year, if any?
The CCA rate is 20% (Class 8). Using straight-line depreciation to a salvage value of zero, what is the net advantage to leasing
The firm finances its assets with P1,020,000 debt (costing 5.7 percent) and 202,000 shares of stock selling at P11.00 per share. Calculate the EPS
Flexible Budgeting At the beginning of the period, the Grinding Department budgeted direct labor of $81,000 and property tax of $46,000 for 4,500 hours of production. The department actually completed 5,800 hours of production. Determine the budget f..
Inventory at the beginning of the year was 20,400 units. The finished goods inventory at the end of each quarter is to equal 34% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter?
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