Waffle had share capital of USD7.5 million in 50c equity shares at 1 October 20X6. On 1 January 20X7 it made an issue of 4 million shares at full market price immediately followed by a 1 for 3 bonus issue.The financial statements at 30 September 20X7 showed profit for the year of USD12 million.What was EPS for the year?
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A 16.7c B 18.5c C 16.1c D 17c
2 .At 1 April 20X2 Atlas had in issue 80 million 50c equity shares. On 1 July 20X2 Atlas made and recorded a fully subscribed rights issue of 1 for 4 at $1.20 each. Immediately before this issue the stock market value of Atlas’s shares was $2 each, giving a theoretical ex-rights price of $1.84. Earnings for the year amounted to $31.2 million.What is the basic earnings per share of Atlas for the year ended 31 March 20X3?
A 32.8c B 31.2c C 32.3c D 33.4c
3 .Although the objectives and purposes of not-for-profit entities are different from those of commercial entities, the accounting requirements of not-for-profit entities are moving closer to those entities to which IFRSs apply.Which of the following IFRS requirements would not be relevant to a not-for-profit entity?
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4 .At 1 January 20X8 Artichoke had 5 million $1 equity shares in issue. On 1 June 20X8 it made a 1 for 5 rights issue at a price of $1.50. The market price of the shares on the last day of quotation with rights was $1.80.Total earnings for the year ended 31 December 20X8 was $7.6 million.What was EPS for the year?
A $1.35 B $1.36 C $1.27 D $1.06
6 .Plumstead had 4 million equity shares in issue throughout the year ended 31 March 20X7. On 30 September 20X7 it made a 1 for 4 bonus issue. Profit after tax for the year ended 31 March 20X8 was $3.6 million, out of which an equity dividend of 20c per share was paid. The financial statements for the year ended 31 March 20X7 showed EPS of 70c.What is the EPS for the year ended 31 March 20X8 and the restated EPS for the year ended 31 March 20X7?
A 20X8: 72c; 20X7: 87.5c B 20X8: 52c; 20X7: 56c C 20X8: 80c; 20X7: 87.5c D 20X8: 72c; 20X7: 56c
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A Share capital 37,500; Share premium 11,250 B Share capital 40,000; Share premium 4,000 C Share capital 37,500; Share premium 4,000 D Share capital 40,000; Share premium 11,250
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A 1 and 2 B 2 and 4 C 2 and 3 D 1 and 4
9 .Which of the following correctly defines ‘equity’ according to the IASB's Conceptual Framework?
A Equity is a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity. B Equity is a present obligation of the entity arising from past events, the settlement of which isexpected to result in an outflow from the entity of...
