User Account

All Pages

What amount shall be used as a numerator for net income

Assignment Help Financial Accounting
Reference no: EM132950362

Question - During 2021, Thompson Company had the following two classes of stock issued and outstanding for the entire year:

250,000 of ordinary shares, P100 par

100,000 of 12% cumulative preference shares, P100 par, convertible share for share into ordinary shares

Thompson's 2021 net income was P9,000,000, and its income tax rate for the year was 30%.

No dividends were declared or paid during the year.

Provide the answer and solutions.

1. What amount shall be used as a numerator for net income?

2. What is the basic earnings per share?

Reference no: EM132950362

Questions Cloud

Find the cost of goods sold during July : The cost of goods manufactured during the month was $85,000 and the ending finished goods inventory was $20,000. Find the cost of goods sold during July
List the relevant legislation in relation : You have just started working for an agency and feel excited about placing tenants into property. A potential tenant walks into the agency looking for a place t
Which of the average cost to produce one unit is : The company produced 5,000 units and sold 4,000 units for $15.00 a unit. The average cost to produce one unit is which of the following amounts?
Disruptive technologies and crm : Identify at least 3 types of disruptive technologies. How these technologies enhance sales management and its impact on building relationship with customers?
What amount shall be used as a numerator for net income : Thompson's 2021 net income was P9,000,000, and its income tax rate for the year was 30%. What amount shall be used as a numerator for net income
Attitude toward working with older people : 1. "All organizations would benefit from hiring the smartest people they can get." Do you agree or disagree with this statement? Support your answer.
What amount of revenue from loyalty programme : What amount of revenue from loyalty programme should Che recognize for the year ended December 31, 2017
Leadership styles for the five stages of radical change : What are the Leadership styles for the five stages of radical change. Consider the stages of change and what is required of a leader at each stage. Using your c
Compute the number of units in ending inventory : Compute cost of goods available for sale and the number of units available for sale and Compute the number of units in ending inventory

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd