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What should be the earnings per share for the year december

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Problem 1: Purchase Retailer made cash sales during the month of October of P132,600. The sales are subject to a 6% sales tax that was also collected. would be included in the summary journal entry to reflect the sale transactions?

a. Credit Sales Tax Payable for P7,956.

b. Credit Sales for P125,094.

c. Debit Cash for P132,600.

d. Credit Sales Tax Payable for P7,506.

Problem 3: Wear and Tear Company had a net income for the year of P442,500 and a weighted average number of ordinary shares outstanding during the period of 150,000 shares. What should be the earnings per share for the year ended December 31, 2017, rounded to the nearest peso?

a. P2.83

b. P2.35

c. P3.20

d. P2.95

Reference no: EM132628407

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