Items 21 and 22 are based on the Following Information: Fortunato Company had 200,000 ordinary shares outstanding on January 1, 2015. On January 1, 2015, the entity had issued 4,000 convertible 10% bonds with P1,000 face value. The bonds were converted on October 1, 2015 and 40 ordinary shares were issued in exchange for each bond. Net income was P5,000,000. The income tax rate is 30%. 21. What is the amount of basic earnings per share? a. 25.000 b. 13.80 с. 20.83 d. 15.62 22. What is the amount of diluted earnings per share? с. 14.72 d. 14.61 a. 14.47 b. 21.65

Items 21 and 22 are based on the Following Information: Fortunato Company had 200,000 ordinary shares outstanding on January 1, 2015. On January 1, 2015, the entity had issued 4,000 convertible 10% bonds with P1,000 face value. The bonds were converted on October 1, 2015 and 40 ordinary shares were issued in exchange for each bond. Net income was P5,000,000. The income tax rate is 30%. 21. What is the amount of basic earnings per share? a. 25.000 b. 13.80 с. 20.83 d. 15.62 22. What is the amount of diluted earnings per share? с. 14.72 d. 14.61 a. 14.47 b. 21.65

Name: PROVIDE COMPUTATION Items 21 and 22 are based on the Following Informa
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Description: PROVIDE COMPUTATION Items 21 and 22 are based on the Following Information:Fortunato Company had 200,000 ordinary shares outstanding on January 1, 2015. On January 1, 2015, the entity hadissued 4,000 convertible 10% bonds with P1,000 face value. The

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EB: Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market...

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