Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Liam Company presented the following data: Net income $2.200.000 Preference shares: 50.000 share outstanding, $100 par, 8% cumulative, not convertible 5.000.000 Ordinary shares: shares outstanding

Liam Company presented the following data: Net income $2.200.000 Preference shares: 50.000 share outstanding, $100 par, 8% cumulative, not convertible 5.000.000 Ordinary shares: shares outstanding (Jan. 1) 600.000 Issued for cash (May 1) 300.000 Acquired treasury shares for cash (Aug. 1) 150.000 3 for 1 share split (Oct. 1) Convertible bond: issues outstanding (Jan. 1) $1.000.000 in a prior year and convertible into 30,000 ordinary shares current year interest expenses $70.000 tax rate 30%

Instructions: 1. Compute ending balance share outstanding. 2. Compute weighted average number of shares outstanding. 3. Compute Earnings per Shares diluted or anti-diluted

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud Casebook Lessons From The Bad Side Of Business

Authors: Joseph T. Wells

1st Edition

0470134682, 978-0470134689

More Books

Students also viewed these Accounting questions

Question

Discuss communication challenges in a global environment.

Answered: 1 week ago