The equity and reserves portion of Sardine plcs Balance sheet as at 31 December 2011 is shown
Question:
The equity and reserves portion of Sardine plc’s Balance sheet as at 31 December 2011 is shown and an extract from the Statement of income ending on that date is shown. 300,000 Ordinary shares of 50p each were issued on 1 May 2011. No dividends were paid in the year.
Required:
Calculate the basic earnings per share for the year ended 31 December 2011.
Clue: If after issuing 300,000 shares there are 1,800,000 (900,000/0.50p) ordinary shares in issue, then in the four months to 1 May 2011 the ordinary shares in issue would have been 1,500,000.
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11 to 15 15 to 3112 Weighted average number of sh...View the full answer
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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