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What is the basic earnings per share

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Q1. During 2021, CAPTAIN AMERICA Company had two classes of shares issued and outstanding for the entire year. Additional information are as follows: Ordinary share capital, par 10 - 1,000,000; 7% Preference share capital, 100 par, cumulative - 500,000. The net income for the year amounts to 500,000. What is the basic earnings per share?

Q2. SPIDER MAN Bottling Corporation embarked on a promotional program whereby a can opener costing 13 each is given away for 10 bottle crowns plus 5. SPIDER MAN also pays 2 per can opener for handling and shipping cost. SPIDER MAN estimates that only 40% of the bottle crowns in the hands of consumers will be presented for redemption. The following information is available: Bottles sold - 1,000,000 units amounting to 5,000,000; Can openers bought for giveaways - 15,000 units amounting to 195,000; Can openers distributed to customers - 10,000 units. At the close of the first year, how much should SPIDER MAN recognize as estimated liability for promotional items outstanding?

Reference no: EM133064107

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