Entity A has 200,000 ordinary shares outstanding on January 1, 20x1. Entity A offers rights issue to its existing shareholders that enable them to acquire 1 ordinary share at a subscription price of P120 for every 5 rights held. The rights are exercised on May 1, 20x1. The market price of one ordinary share immediately before exercise is P180. Entity A reported profit after tax of P2,700,000 in 20x1. What is the basic earnings per share in 20x1? * O 12.58 O 12.67 O 11.71 O 11.67
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- Virma Corporation sold to a subscriber 500 shares of its P30 par value common stock at P32 per share receiving a 30% down payment. In recording this transaction, A. Ordinary share will be credited in the amount of P15,000 B. Ordinary share will be credited in the amount of P16,000 C. Subscribed share capital will be credited in the amount of P15,000 D. Share premium will be credited in the amount of P4,500 Leon Corporation sold 500 shares of its P40 par value preferred stock for cash at P50 per share. In recording this transaction, there would be a A. Credit to preference share capital for P25,000 B. Credit to preference share capital for P20,000 C. Credit to subscribed preference share capital for P20,000 D. Credit to share capital in excess of stated value for P5,000 Luningning Corporation sold for cash 400 shares of preferred stock with a par value of P50 per share at P56 per share. Also, 600 shares of common stock with no…The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80each. Resty identified the following costs in relation to the share issue: Professional fees of P40,000. Internal management time in managing the process of P30,000.These costs are deductible in arriving at the entity’s income tax liability. Thecurrent rate of tax is 30%.In accordance with PAS32 Financial instruments: presentation, the increase inequity in the statement of financial position of Resty as a result of the transactionwill bea. P360,000b. P332,000c. P320,000d. P311,000What total amount shall be reported in profit or loss in the Inn Corporation had 30,000 ordinary shares of NPA Company which it acquired during Year 2 for a total consideration of P1,800,000, including P30,000 directly attributable costs. The shares were acquired for trading purposes. On December 31, Year 2, the NPA shares were selling at P65 per share. In July Year 3, Inn Corporation received a 20% bonus issue. Subsequently during the year, it sold 15,000 shares at 70 per share. The fair value of NPA ordinary at December 31, Year 3 was P72 per share. Required: statement of comprehensive income for Year 3?
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- Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment for E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Sherman shares were selling for £34.50 per share. How much total revenues (all revenues) should be recognized from this investment during the year? Select one: Oa. $1900 Ob. $700 OC $1300 Od. $600The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty identified the following costs in relation to the share issue:• Professional fees of P40,000.• Internal management time in managing the process of P30,000. These costs are deductible in arriving at the entity's income tax liability. The current rate of tax is 30%. In accordance with PAS32 Financial instruments: presentation, the increase in equity in the statement of financial position of Resty as a result of the transaction will beA. P332,000 B. P320.000 C. P360,000 D. P311,000On January 1, 2022, Bumili Co, purchased 10,000 shares of Nabill, Inc. for P1,000,000 Commission and other charges paid amounted to P15,000 Management made an irrevocable choice to subsequently measure the shares at fair value through other comprehensive income. On December 31, 2022, the shares are quoted at P90 per share. On January 3, 2023, all of the shares were sold at P105 per share. Commission and other charges paid for the sale amounted to P16.000, How much is the unrealized gain (loss) recognized in Bumilis 2022 profit or loss?
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