basic earnings per share on the face of the income statement under each of the following assumptions: 1. The entity has only one class of share capital, 50,000 ordinary shares with par value of P100. 2. The entity has two classes of share capital: Preference share, 10% cumulative, P100 par 2,000,000 Ordinary share, P100 pa
basic earnings per share on the face of the income statement under each of the following assumptions: 1. The entity has only one class of share capital, 50,000 ordinary shares with par value of P100. 2. The entity has two classes of share capital: Preference share, 10% cumulative, P100 par 2,000,000 Ordinary share, P100 pa
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
BONAL Company reported the following information for the current year:
Income before tax 5,000,000
Income tax 1,600,000
Loss from discontinued operations 800,000
Required:
Present the basic earnings per share on the face of the income statement under each of
the following assumptions:
1. The entity has only one class of share capital, 50,000 ordinary shares with par value
of P100.
2. The entity has two classes of share capital:
Ordinary share, P100 par, 50,000 shares 5,000,000
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