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Hi, Ma'am/Sir! Can someone help me to answer this questions? I need a computational and explanation on every question. Thank you! :> PROBLEM 6: MULTIPLE

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Hi, Ma'am/Sir! Can someone help me to answer this questions? I need a computational and explanation on every question. Thank you! :>

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PROBLEM 6: MULTIPLE CHOICE - COMPUTATIONAL 1. At December 31, 20x2 and 20x1, Gow Corp. had 100,000 ordinary shares and 10,000, 5%, P100 par value cumulative preference shares outstanding. No dividends were declared on either the preference or ordinary shares in 20x2 or 20x1. Profit for 20x2 was P1,000,000. For 20x2, basic earnings per common share amounted to a. 10.00 b. 9.50 c. 9.00 d. 5.00 (AICPA) 2. Fay Corporation's capital structure at December 31, 20x6, was as follows: Shares issued and outstanding Ordinary shares 200,000 Nonconvertible preference shares 50,000 On October 1, 20x7, Fay issued a 10% share dividend on its ordinary shares, and paid P100,000 cash dividends on the preference shares. Profit for the year ended December 31, 20x7 was P960,000. Fay's 20x7 basic earnings per ordinary share should be a. 3.91 b. 4.10 C. 4.36 d. 4.68 (AICPA) 3. The following information pertains to Jet Corp.'s outstanding stock for 20x1:Ordinary shares, P5 par value, shares outstanding, 1/1/x1 20,000 2-for-1 stock split, 4/1/x1 20,000 Shares issued, 7/1/x1 10,000 Preference shares, P10 par value, 5% cumulative shares outstanding, 1/1/x1 4,000 What is the number of shares Jet should use to calculate 20x1 basic earnings per share? a. 40,000 b. 45,000 c. 50,000 d. 54,000 (AICPA) 4. Timp, Inc., had the following ordinary share balances and transactions during 20x8: 1/1/x8 Ordinary shares outstanding 30,000 2/1/x8 Issued a 10% ordinary share dividend 3,000 3/1/x8 Issued ordinary shares in a business combination 9,000 7/1/x8 Issued ordinary shares for cash 8,000 12/31/x8 Ordinary shares outstanding 50,000 What was Timp's 20x8 weighted average shares outstanding? a. 40,000 d. 46,000 b. 44,250 c. 44,500 (AICPA)

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