Bài tẠp chú đề “Lσi nhuẠn trên mỗi cổ phiếu”
I. TRẫC NGHIỊM:
Câu 1 (ÐỀ THT): In determining diluted earnings per share, dividends on nonconvertible
cumulative preference shares should be:
Select one:
a. Disregarded
b. deducted from net income whether declared or not
c. added back to net income whether declared or not
d. deducted from net income only if declared
diluted earnings per share : (là cổ tỤc ưu dãi nhưng: Dilutive không chuyển dổi thì vấn phâi trừ (-)
chuyển dổi thì giữ nguyên)
Câu 2 (ÐỀ THT): Dilutive convertible securities must be used in the computation of
Select one:
a. basic earnings per share only
b. diluted earnings per share only
c. diluted and basic earnings per share
d. None of these answers are correct
Câu 3 (ÐỀ THT): Earnings per share is calculated by:
Select one:
a. dividing profit or loss attributable to preference shareholders of a parent entity, by the weighted
average number of ordinary shares the entity has on issue during the reporting period
b. dividing profit or loss attributable to ordinary shareholders of a parent entity, by the weighted average
number of ordinary shares the entity has on issue during the reporting period
c. dividing profit or loss attributable to ordinary shareholders of a parent entity, by the number of ordinary
shares the entity has on issue at the beginning of the reporting period
d. dividing profit or loss attributable to ordinary shareholders of a parent entity, by the number of ordinary
shares the entity has on issue at the end of the reporting period
Câu 4 (ÐỀ THT): Earnings per share is calculated by comparing an entity’s:
Select one:
a. revenue with the number of ordinary shares it has on issue
b. profit with the number of ordinary shares it has on issue
c. revenue with the number of shareholders
d. profit with the number of shareholders
Câu 5 (ÐỀ THT): The profit or loss that is used in the calculation of basic earnings per share is
calculated as:
Select one:
a. Profit before tax expense – tax expense – preference dividends
b. Profit before tax expense – tax expense
c. Profit before tax expense – tax expense – ordinary dividends
d. Profit before tax expense
Câu 6 (ÐỀ THT): Any errors or adjustments resulting from changes in accounting policies that are
accounted for retrospectively(hồi tố) require:
Select one:
a. a retrospective adjustment to both basic and diluted earnings per share
b. no retrospective adjustment to either basic or diluted earnings per share
c. a retrospective adjustment to diluted earnings per share only
d. a retrospective adjustment to basic earnings per share only
Câu 7 (ÐỀ THT): Assume there are two dilutive convertible securities. The one that should be used
first to recalculate earnings per share is the security with the (EPIS)
Select one:
a. smaller earnings effect per share
b. greater earnings effect per share
c. smaller earnings adjustment
d. greater earnings adjustment
Câu 8 (ÐỀ THT): Under paragraph 4, if an entity presents both consolidated (hợp nhất) and
separate (tách biỎt) financial statements, the IAS 33 disclosures need only be determined on the
basis of:
Select one:
a. consolidated information
(only in consolidated)
b. parent entity only
c. subsidiary entities only
d. the entity has choice of either parent entity or consolidation
Câu 9 (ÐỀ THT): What effect will the acquisition of treasury shares have on shareholders' equity
and earnings per share, respectively?
Select one:
a. Decrease and no effect
b. Increase and no effect
c. Decrease and increase
d. Increase and decrease
CPQ tăng => VQCH giâm => EPQ tăng
Câu 10 (ÐỀ THT): When applying the treasury share method for diluted earnings per share, the
market price of the ordinary shares used for the repurchase is the (option, warrant)
Select one:
a. None of these answers are correct
b. price at the beginning of the year
c. price at the end of the year
d. average market price
Câu 11 (ÐỀ THT): When computing diluted earnings per share, convertible bonds are
Select one:
a. assumed converted whether they are dilutive or antidilutive
b. assumed converted only if they are antidilutive
c. ignored
d. assumed converted only if they are dilutive
Câu 12 (ÐỀ THT): When computing diluted earnings per share, convertible securities are:
Select one:
a. recognized whether they are dilutive or antidilutive
b. recognized only if they are dilutive
c. ignored
d. recognized only if they are antidilutive
Câu 13 (ÐỀ THT): The basic earnings per share and diluted earnings per share ratios must be
presented in an entity’s:
Select one:
a. statement of profit or loss and other comprehensive income even if the amounts are negative
b. statement of financial position even if the amounts are negative
c. statement of profit or loss and other comprehensive income only if the amounts are positive
d. statement of changes in equity even if the amounts are negative
(negative + positive => luôn luôn P/L + OCI)
Câu 14 (ÐỀ THT): If the entity has a discontinued operation, then it must also calculate and
disclose the:
Select one:
a. the basic and diluted earnings per share ratios for the discontinued operation in the statement of profit
or loss and other comprehensive income only if the discontinued operation contributed a profit in the
current reporting period
b. the diluted earnings per share ratio only for the discontinued operation in the statement of profit or loss
and other comprehensive income
c. the basic and diluted earnings per share ratios for the discontinued operation in the statement of profit
or loss and other comprehensive income
d. the basic earnings per share ratio only for the discontinued operation in the statement of profit or loss
and other comprehensive income
Câu 15 (ÐỀ THT): A company issues bonus shares for no consideration ( phí khi chuyển đổi sớm)
on 1 August 2014. For the reporting period ended 30 June 2015, the calculation of:
Select one:
a. only the diluted earnings per share must be adjusted retrospectively for all periods that are presented in
the financial statements
b. both basic earnings per share and diluted earnings per share may be adjusted retrospectively at the
option of the entity for all periods that are presented in the financial statements
c. only basic earnings per share must be adjusted retrospectively for all periods that are presented in the
financial statements
d. both basic earnings per share and diluted earnings per share must be adjusted retrospectively for all
periods that are presented in the financial statements
(no consideration: k thay dổi => k tành trỀng sỘ => phâi hối tỘ: retrospectively)
Câu 16 (ÐỀ THT): In applying the treasury share method to determine the dilutive effect of share
options and warrants, the proceeds assumed to be received upon exercise of the options and
warrants
Select one:
a. are disregarded in the computation of earnings per share if the exercise price of the options and
warrants is less than the ending market price of ordinary shares
b. None of these answers are correct
c. are used to calculate the number of ordinary shares repurchased at the average market price, when
computing diluted earnings per share
d. are added, net of tax, to the numerator of the calculation for diluted earnings per share
Câu 17 (ÐỀ THT): If all of the dilutive securities were converted into ordinary shares, the diluted
earnings per share ratio:
Select one:
a. must include an adjustment to decrease the weighted average number of ordinary shares that would be
outstanding
b. must include an adjustment to increase the weighted average number of ordinary shares that would be
outstanding
c. may include an adjustment to increase the weighted average number of ordinary shares that would be
outstanding
d. must include an adjustment to increase the number of ordinary shares that would be outstanding
Câu 18 (ÐỀ THT): The number of shares used in the calculation of earnings per share is:
Select one:
a. the number of ordinary and preference shares adjusted by a time-weighting factor which is the number
of days in the reporting period that the shares are outstanding as a proportion of the total number of days
in the period
b. the average of the number of ordinary shares outstanding at the beginning ((==>> dduurriinngg:: TTrruuee) and end
of the reporting period
c.the number of prefeer ce shares adjuste by a t i m e - weighting factor whhiich is the n u m b e r o f da y s i n the
reporting period that the shares are outstanding a s a p r oportion of the total number o f d ay s i n t he p e ri o d
d. the number of ordinary shares adjusted by a time-weighting factor which is the number of days in the
reporting period that the shares are outstanding as a proportion of the total number of days in the period
Câu 19 (ÐỀ THT): In computing earnings per share for a simple capital structure, if the preference
shares are cumulative, the amount that should be deducted as an adjustment to the numerator
(earnings) is the (preference dividend: năm nào trâ năm dó)
Select one:
a. annual preference dividend times (one minus the income tax rate) ( dúng nếu không có vế sau)
b. None of these answers are correct
c. preference dividends in arrears (trâ sau)
d. preference dividends in arrears times (one minus the income tax rate)
Câu 20 (ÐỀ THT): IAS 33 applies to the computation and presentation of earnings per share by:
Select one:
a. only those entities that are in the process of issuing ordinary shares that will be traded in public markets
b. both reporting and non-reporting entities
c. reporting entities whose shares are publicly traded (đã giao dịch ), or of entities that are in the process
of issuing ordinary shares that will be traded in public markets (đã phát hành)
d. only reporting entities whose shares are publicly traded
Câu 21 (ÐỀ THT): In the diluted earnings per share computation, the treasury share method is
used for options and warrants to reflect assumed reacquisition of ordinary shares at the average
market price during the period. If the exercise price of the options or warrants exceeds the average
market price, the computation would
Select one:
a. reflect the excess of the number of shares assumed issued over the number of shares assumed
reacquired as the potential dilution of earnings per share
b. fairly present diluted earnings per share on a prospective basis
c. fairly present the maximum potential dilution of diluted earnings per share on a prospective basis
d. be antidilutive
(In the money: Exercise < average
Out of the money: Exercise > average)
Câu 22 (ÐỀ THT): In computing earnings per share, the equivalent number of shares of
convertible preference shares are added as an adjustment to the denominator (number of shares
outstanding). If the preference shares are cumulative, which amount should then be added as an
adjustment to the numerator (net earnings)?
Select one:
a. Annual preference dividend times the income tax rate
b. Annual preference dividend times (one minus the income tax rate)
c. Annual preference dividend divided by the income tax rate
d. Annual preference dividend
trái phiếu thì tính trước thuế [interest (l-tax)]
Câu 23 (ÐỀ THT): Terry Corporation had 300,000 ordinary shares outstanding at December 31,
2019. In addition, it had 90,000 share options outstanding, which had been granted to certain
executives, and which gave them the right to purchase Terry's shares at an option price of €37 per
share. The average market price of Terry's ordinary shares for 2019 was €50. What is the number
of shares that should be used in computing diluted earnings per share for the year ended December
31, 2019?
Select one:
a. None of these answers are correct
b. 366,600
c. 300,000
d. 331,622
e. 323,400
300 + 90x(l- 37/50)
Câu 24 (ÐỀ THT): Hill Corp. had 600,000 ordinary shares outstanding on January 1, issued
900,000 shares on July 1, and had income applicable to common stock of €1,050,000 for the year
ending December 31, 2019. Earnings per share for 2019 would be
Select one:
a. None of these answers are correct
b. ₦1.>2
c. ₦1.00
d. ₦0.<3
e. ₦1.1>
l050/(600+900*6/l2) = l050/(600*6/l2+l500*6/l2)
Câu 25 (ÐỀ THT): Milo Co. had 600,000 ordinary shares outstanding on January 1, issued 126,000
shares on May 1, purchased 63,000 shares of treasury shares on September 1, and issued 54,000
shares on November 1. The weighted avera ge shares outstanding for the year is
Select one:
a. 6>2,000
b. 621,000
c. >14,000
d. None of these answers are correct
e. 643,000
600*4/l2 + 726*4/l2 + (726-63) *2/l2 + (726-63+54)*2/l2 = 600 + l26*8/l2 – 63*4/l2 +54*2/l2
Câu 26 (ÐỀ THT): At December 31, 2018, Sager Co. had 1,200,000 ordinary shares outstanding. In
addition, Sager had 450,000 shares of preference shares which were convertible into 750,000
ordinary shares. During 2019, Sager paid £600,000 ordinary cash dividends and £400,000
pTrheefedrieluntceedceaasrhndinivgisdpeenrdsh. aNreet fionrco2m
01e9fiosr(r2o0u1n9dwedasto£3th,4e0n0e,0a0r0esatnpdentnhye)income tax rate was 40%.
Select one:
a. £2.<4
b. None of these answers are correct
c. £1.24
d. £1.>4
e. £2.21
(là Dilutive nên nếu convertible thì không dụng dến dividend; nếu nonconvertible thì trừ ra)
3.400/(l.200+750)
Câu 27 (ÐỀ THT): XYZ Ltd has 10 000 ordinary shares on issue at 1 July 2015 which is the
beginning of its reporting period. On 1 May 2016, it issued a further 2000 ordinary shares for cash.
The weighted average number of shares for use in the earnings per share calculation is:
Select one:
a.
12,000 shares
b.
10,000 shares
c.
11,000 shares
d.
10,333 shares
l0+2*2/l2 = l0*l0/l2 + l2*2/l2
Câu 28 (ÐỀ THT): Nolte Co. has 4,000,000 ordinary shares outstanding on December 31, 2018. An
additional 200,000 shares are issued on April 1, 2019, and 480,000 more on September 1. On
October 1, Nolte issued €6,000,000 of 9% convertible bonds. The bonds are dilutive. Each €1,000
bond is convertible into 40 ordinary shares. No bonds have been converted. The number of shares
to be used in computing basic earnings per share and diluted earnings per share on December 31,
2019 is:
Select one:
a. 4,310,000 and 4,3>0,000
b. None of these answers are correct
. c. 4,310,000 and 4,220,000
d. 2,0<0,000 and 2,320,000
e. 4,310,000 and 4,310,000
computing basic earnings per share = 4000+200*9/l2 +480*4/l2 = 4000*3/l2 +4200*5/l2 +4680
*4/l2 = 43l0
diluted earnings per share = 43l0 + 6000/l000*40*3/l2 = 4370
Câu 29 (ÐỀ THT): Fultz Company had 300,000 ordinary shares issued and outstanding at
December 31, 2018. During 2019, no additional ordinary shares were issueD. On January 1, 2019,
Fultz issued 400,000 shares of nonconvertible preference shares. During 2019, Fultz declared and
paid €180,000 cash dividends on the ordinary shares and €150,000 on the nonconvertible preference
shares. Net income for the year ended December 31, 2019, was €960,000. What should be Fultz's
2019 earnings per share, rounded to the nearest penny?
Select one:
a. None of these answers are correct
b. ₦2.>0
c. ₦3.20
d. ₦2.10
e. ₦1.16
(non-convertible nên phâi trừ cổ tỤc)
(960-l50)/300
Câu 30 (ÐỀ THT): On January 2, 2019, Worth Co. issued at par £2,000,000 of 7% convertible
bonds. Each £1,000 bond is convertible into 20 ordinary shares. No bonds were converted during
2019. Worth had 200,000 ordinary shares outstanding during 2019. Worth’s 2019 net income was
£600,000 and the income tax rate was 30%. Worth’s diluted earnings per share for 2019 would be
(rounded to the nearest penny):
Select one:
a. None of these answers are correct
b. £3.44
c. £2.41
d. £3.00
e. £3.0<
Câu 31 (ÐỀ THT): Warrants exercisable at £20 each to obtain 30,000 ordinary shares were
outstanding during a period when the average market price of the ordinary shares was £25.
Application of the treasury share method for the assumed exercise of these warrants in computing
diluted earnings per share will increase the weighted average number of outstanding shares by
Select one:
a. None of these answers are correct
b. 24,000
c. 6,000
d. 30,000
e. >,200
30000(l-20/25) = 6000
Câu 32 (ÐỀ THT): Harry Ltd determined its profit attributable to ordinary shareholders for the
reporting period ended 30 June 2016 as €960,000. The average market price of the entity’s shares
during the period is €4.00 per share. The weighted average number of ordinary shares on issue
during the period is 1,000,000. The weighted average number of shares under share options
arrangements during the year is 200,000 and the exercise price of shares under option is €3.50. The
diluted earnings per share at 30 June 2016 is:
Select one:
a. ₦0.<0
b. ₦0.44
c. ₦4.00
d. ₦1.24
960/(l000+200(l-3,5/4)) = 0.94
Câu 33 (ÐỀ THT): Marsh Co. had 2,400,000 ordinary shares outstanding on January 1 and
December 31, 2018. In connection with the acquisition of a subsidiary company in June 2017,
Marsh is required to issue 100,000 additional ordinary shares on July 1, 2019, to the former owners
of the subsidiary. Marsh paid €200,000 in preference share dividends in 2018, and reported net
income of €3,400,000 for the year. Marsh's diluted earnings per share for 2018 should be:
Select one:
a. $1.36
b. None of these answers are correct
c. $1.42
d. $1.33
e. $1.2<
(3400-200)/(2400+l00) = l.28
Câu 34 (ÐỀ THT): Kasravi Co. had net income for 2019 of €300,000. The average number of shares
outstanding for the period was 200,000 shares. The average number of shares under outstanding
options, at an option price of €30 per share is 12,000 shares. The average market price of the
ordinary shares during the year was €36. What should Kasravi Co. report for diluted earnings per
share for the year ended 2019?
Select one:
a. ₦1.43
b. ₦1.20
c. €1.42
d. None of these answers are correct
e. €1.49
300/(200+l2(l-30/36)) = l.49
Câu 35 (ÐỀ THT): At December 31, 2019, Hancock Company had 500,000 ordinary shares issued
and outstanding, 400,000 of which had been issued and outstanding throughout the year and
100,000 of which were issued on October 1, 2019. Net income for the year ended December 31,
2019, was €1,020,000. What should be Hancock's 2019 earnings per share, rounded to the nearest
penny?
Select one:
a. €2.27
b. €2.40
c. €2.02
d. €2.55
e. None of these answers are correct
l020/(400+l00*3/l2) = 2.4
Câu 36 (ÐỀ THT): Shipley Corporation had net income for the year of £480,000 and a weighted
average number of ordinary shares outstanding during the period of 200,000 shares. The company
has a convertible bond issue outstanding. The bonds were issued four years ago at par (£2,000,000),
carry a 7% interest rate, and are convertible into 40,000 shares. The company has a 40% tax rate.
Diluted earnings per share are:
Select one:
a. £2.58
b. None of these answers are correct
c. £2.35
d. £1.65
e. £2.23
(480+7%*2000*60%)/(200+40) = 2.35
Câu 37 (ÐỀ THT): Foyle, Inc., had 560,000 ordinary shares and outstanding at December 31, 2018.
On July 1, 2016, an additional 40,000 shares were issued for cash. Foyle also had unexercised share
options to purchase 32,000 ordinary shares at £15 per share outstanding at the beginning and end
of 2019. The average market price of Foyle's ordinary shares was £20 during 2019. What is the
number of shares that should be used in computing diluted earnings per share for the year ended
December 31, 2019?
Select one:
a. 612,000
b. 608,000
c. None of these answers are correct
d. 588,000
e. 580,000
560+40*6/l2+32*(l-l5/20) = 588
Câu 38 (ÐỀ THT): At December 31, 2019 and 2018, Miley Corp. had 180,000 ordinary shares and
10,000 shares of 5%, €100 par value cumulative preference shares outstanding. No dividends were
declared on either the preference or ordinary shares in 2019 or 2018. Net income for 2019 was
€400,000. For 2019, earnings per share amounted to
Select one:
a. €2.22
b. €1.67
c. None of these answers are correct
d. €1.11
e. €1.94
(400-l0*5%*l00)/l80 = l.94
Câu 39 (ÐỀ THT): At December 31, 2018 Rice Company had 300,000 ordinary shares and 10,000
shares of 5%, £100 par value cumulative preference shares outstanding. No dividends were
declared on either the preference or ordinary shares in 2018 or 2019. On January 30, 2020, prior to
the issuance of its financial statements for the year ended December 31, 2019, Rice declared a 100%
share dividend on its ordinary shares. Net income for 2019 was £950,000. In its 2019 financial
statements, Rice's 2019 earnings per share should be:
Select one:
a. £1.50
b. £3.17
c. None of these answers are correct
d. £3.00
e. £1.58
(950-l0%*5*l00)/(300+300) = l.5
Câu 40 (ÐỀ THT): At December 31, 2018 Pine Company had 200,000 ordinary shares and 10,000
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to the issuance of its financial statements for the year ended December 31, 2019, Pine declared a
100% stock split on its ordinary shares. Net income for 2019 was €720,000. In its 2019 financial
statements, Pine’s 2019 earnings per share should be:
Select one:
a. None of these answers are correct
b. €3.20
c. €1.00
d. €1.70
e. €3.40
(720-l0*4%*l00)/(200+200) = l.7
Câu 41 (ÐỀ THT): At December 31, 2018, Emley Company had 1,200,000 ordinary shares
outstanding. On September 1, 2019, an additional 400,000 ordinary shares were issueD. In addition,
Emley had €12,000,000 of 6% convertible bonds outstanding at December 31, 2018, which are
convertible into 800,000 ordinary shares. No bonds were converted in 2019. The net income for the
year ended December 31, 2019, was €4,500,000. Assuming the income tax rate was 30%, what
should be the diluted earnings per share for the year ended December 31, 2019, rounded to the
nearest cent?
Select one:
a. None of these answers are correct
b. $2.35
c. $2.11
d. $3.38
e. $2.45
(4500+l2000*6%*70%)/(l200+400*4/l2+800) = 2.35
Câu 42 (ÐỀ THT): On January 2, 2019, Perez Co. issued at par €10,000 of 6% bonds convertible in
total into 1,000 ordinary shares of Perez's. No bonds were converted during 2019. Throughout
2019, Perez had 1,000 ordinary shares outstanding. Perez's 2019 net income was €3,000, and its
income tax rate is 30%. No potentially dilutive securities other than the convertible bonds were
outstanding during 2019. Perez's diluted earnings per share for 2019 would be (rounded to the
nearest cent):
Select one:
a. €1.50
. €3.42
c. None of these answers are correct
d. €1.80
e. €1.71
(3000+l0.000*6%*70%)/(l000+l000) = l.7l
(Diluted : giâ dịnh chuyển dổi)
Câu 43 (ÐỀ THT): Hanson Co. had 200,000 ordinary shares, 20,000 shares of convertible
preference shares, and €1,000,000 of 10% convertible bonds outstanding during 2019. The
preference shares are convertible into 40,000 ordinary shares. During 2019, Hanson paid dividends
of €1.20 per share on the ordinary shares and €4 per share on the preference shares. Each €1,000
bond is convertible into 45 ordinary shares. The net income for 2019 was $800,000 and the income
tax rate was 30%. Basic earnings per share for 2019 is (rounded to the nearest penny):
Select one:
a. €3.60
b. €3.35
c. €2.94
d. €3.22
e. None of these answers are correct
(800-4*20)/200 = 3.6
Câu 44 (ÐỀ THT): ABC Ltd has 21,000 ordinary shares on issue at 1 January 2016 which is the
beginning of its reporting period. On 30 June 2016, it issued a further 2,000 ordinary shares for
cash. On 1 November 2016, ABC Ltd repurchased 600 shares at fair value in a market transaction.
The weighted average number of shares for use in the earnings per share calculation is:
Select one:
a. 21,900 shares
b. 21,700 shares
c. 22,400 shares
d. 21,000 shares
2l+2*6/l2 – 0,6*2/l2 = 2l.9
Câu 45 (ÐỀ THT): Beaty Inc. purchased Dunbar Co. and agreed to give shareholders of Dunbar
Co. 10,000 additional shares in 2020 if Dunbar Co.’s net income in 2019 is €500,000; in 2018
Dunbar Co.’s net income is €520,000. Beaty Inc. has net income for 2018 of €200,000 and has an
average number of ordinary shares outstanding for 2018 of 100,000 shares. What should Beaty
report as diluted earnings per share for 2018?
Select one:
a. None of these answers are correct
b. €2.22
c. €1.82
d. €2.00
e. €1.67
200 / (l00+l0) = l.82
Câu 46 (ÐỀ THT): Mary Ltd determined its profit attributable to ordinary shareholders for the
reporting period ended 30 June 2016 as £720,000. The number of ordinary shares on issue up to 31
October 2015 was 50,000. Mary Ltd announced a two-for- one bonus issue of shares effective for
each ordinary share outstanding at 31 October 2015. Basic earnings per share at 30 June 2016 is:
Select one:
a. £7.20
b. £9.60
c. £6.17
d. £4.80
720 / (50+l00) = 4.8
Câu 47 (ÐỀ THT): Hanson Co. had 200,000 ordinary shares, 20,000 shares of convertible
preference shares, and €1,000,000 of 10% convertible bonds outstanding during 2019. The
preference shares are convertible into 40,000 ordinary shares. During 2019, Hanson paid dividends
of €1.20 per share on the ordinary shares and €4 per share on the preference shares. Each €1,000
bond is convertible into 45 ordinary shares. The net income for 2019 was $800,000 and the income
tax rate was 30%. Diluted earnings per share for 2019 is (rounded to the nearest penny):
Select one:
a. €3.33
b. None of these answers are correct
c. €2.77
d. €2.81
e. €3.05
TÍnh Dilutive:
l. EPQ:
TF QỐ
MẪU QỐ
HV QỐ
720 [ 800 – 20*4]
200
3,6 [720/200]
80 [20*4]
40
2 [80/40]
70 [l000*l0%*70%]
45 [l000/l000 *45] l,5 [70/45]
TF QỐ
MẪU QỐ
HV QỐ
Basic
720
200
3,6
(l) Convertible bond
790 [720+70]
245 [200+45]
3,22
(2) Convertible
870 [790+80]
285 [245+40]
3,05
Basic
(2) Convertible
preferred share
(l) Convertible bond
TIiP THEO
preferred share
Câu 48 (ÐỀ THT): Fugate Company had 500,000 ordinary shares issued and outstanding at
December 31, 2018. On July 1, 2019 an additional 500,000 shares were issued for cash. Fugate also
had share options outstanding at the beginning and end of 2019 which allow the holders to
purchase 150,000 ordinary shares at €20 per share. The average market price of Fugate's ordinary
shares was €25 during 2016. What is the number of shares that should be used in computing diluted
earnings per share for the year ended December 31, 2019?
Select one:
a. 787,500
b. 1,030,000
c. 780,000
d. None of these answers are correct
e. 870,000
500+500*6/l2 +l50*(l-20/25) = 780
Câu 49 (ÐỀ THT): Yoder, Incorporated, has 3,200,000 ordinary shares outstanding on December
31, 2018. An additional 800,000 ordinary shares were issued on April 1, 2019, and 400,000 more on
July 1, 2019. On October 1, 2019, Yoder issued 20,000, €1,000 face value, 8% convertible bonds.
The bonds are dilutive. Each bond is convertible into 20 ordinary shares. No bonds were converted
in 2019. What is the number of shares to be used in computing basic earnings per share and diluted
earnings per share, respectively?
Select one:
a. 4,000,000 and 4,000,000
b. 4,000,000 and 4,400,000
c. 4,400,000 and 5,200,000
d. 4,000,000 and 4,100,000
e. None of these answers are correct
computing basic earnings per share = 3200+800*9/l2 + 400*6/l2 = 4000
diluted earnings per share = 4000 + 20*20*3/l2 = 4l00
Câu 50 (ÐỀ THT): Grimm Company has 1,800,000 ordinary shares outstanding on December 31,
2018. An additional 150,000 ordinary shares were issued on July 1, 2019, and 300,000 more on
October 1, 2019. On April 1, 2019, Grimm issued 6,000, €1,000 face value, 8% convertible bonds.
Each bond is convertible into 40 ordinary shares. The bonds are dilutive. No bonds were converted
in 2019. What is the number of shares to be used in computing basic earnings per share and diluted
earnings per share, respectively, for the year ended December 31, 2019?
Select one:
a. 1,950,000 and 2,130,000
b. None of these answers are correct
c. 1,950,000 and 1,950,000
d. 2,250,000 and 2,430,000
e. 1,950,000 and 2,190,000
computing basic earnings per share = l800+l50*6/l2+300*3/l2 = l950
diluted earnings per share = l950+ 40*6*9/l2 = 2l30
Câu 51 (ÐỀ THT): Lerner Co. had 200,000 ordinary shares, 20,000 shares of convertible preference
shares, and €1,000,000 of 10% convertible bonds outstanding during 2019. The preference shares
are convertible into 40,000 ordinary shares. During 2019, Lerner paid dividends of €.90 per
ordinary share and €3.00 per preference share. Each €1,000 bond is convertible into 45 ordinary
shares. The net income for 2019 was €600,000 and the income tax rate was 30%. Basic earnings per
share for 2019 is (rounded to the nearest penny)
Select one:
a. €2.21
b. €2.51
c. None of these answers are correct
d. €2.70
e. €2.42
(600-20*3)/200 = 2.7
Câu 52 (ÐỀ THT): Lerner Co. had 200,000 ordinary shares, 20,000 shares of convertible preference
shares, and €1,000,000 of 10% convertible bonds outstanding during 2019. The preference shares
are convertible into 40,000 ordinary shares. During 2019, Lerner paid dividends of €.90 per
ordinary share and €3.00 per preference share. Each €1,000 bond is convertible into 45 ordinary
shares. The net income for 2019 was €600,000 and the income tax rate was 30%. Diluted earnings
per share for 2019 is (rounded to the nearest penny)
Select one:
a. €2.25
b. None of these answers are correct
c. €2.46
d. €2.14
e. €2.35
TF QỐ
MẪU QỐ
HV QỐ
Basic
540 [600-20*3]
200
2,7
(l)Convertible
preference
60 [20*3]
40
l,5
(2)Convertible bond
70 [l000*l0%*70%]
45 [l000/l000 *45]
l,5667
TIiP THEO
(l) Convertible
preference
600 [540+60]
240
2,5
(2) Convertible
bond
670 [600+70]
285 [240+45]
2,35
Câu 53 (ÐỀ THT): At December 31, 2018, Tatum Company had 2,000,000 ordinary shares
outstanding. On January 1, 2019, Tatum issued 500,000 shares of preference shares which were
convertible into 1,000,000 ordinary shares. During 2019, Tatum declared and paid £1,500,000
ordinary cash dividends and £500,000 preference cash dividends. Net income for the year ended
December 31, 2019, was £5,000,000. Assuming an income tax rate of 30%, what should be diluted
earnings per share for the year ended December 31, 2019? (Round to the nearest cent.)
Select one:
a. £1.67
b. £2.50
c. None of these answers are correct
d. £2.08
e. £$1.50
5000/(2000+l000) = l.67 (dược chuyển dổi nên không dụng vô dividend)
Câu 54 (ÐỀ THT): At December 31, 2018, Kifer Company had 500,000 ordinary shares
outstanding. On October 1, 2019, an additional 100,000 ordinary shares were issued. In addition,
Kifer had €10,000,000 of 6% convertible bonds outstanding at December 31, 2018, which are
convertible into 225,000 ordinary shares. No bonds were converted in 2019. The net income for the
year ended December 31, 2019, was €3,000,000. Assuming the income tax rate was 30%, the diluted
earnings per share for the year ended December 31, 2019, should be (rounded to the nearest penny)
Select one:
a. €4.80
b. €4.00
c. €4.56
d. €6.52
e. None of these answers are correct
( không chuyển đổi nhưng đối với diluted thì giả định chuyển đổi)
(3000+l0000*6%*70%)/(500+l00*3/l2+225) = 4.56
Câu 55 (ÐỀ THT): On January 2, 2019, Mize Co. issued at par €300,000 of 9% convertible bonds.
Each €1,000 bond is convertible into 30 ordinary shares. No bonds were converted during 2019.
Mize had 50,000 ordinary shares outstanding during 2019. Mize 's 2019 net income was €160,000
and the income tax rate was 30%. Mize's diluted earnings per share for 2019 would be (rounded to
the nearest penny)
Select one:
a. €2.71
b. €3.20
c. None of these answers are correct
d. €3.03
e. €3.58
(l60+300*9%*70%)/(50+(300/l000)*30) = 3.03
Câu 56 (ÐỀ THT): Didde Co. had 300,000 ordinary shares issued and outstanding at December 31,
2018. No ordinary shares were issued during 2019. On January 1, 2019, Didde issued 200,000
shares of nonconvertible preference shares. During 2019, Didde declared and paid €100,000 cash
dividends on the ordinary shares and €80,000 on the preference shares. Net income for the year
ended December 31, 2019 was €620,000. What should be Didde's 2019 earnings per share?
Select one:
a. €1.80
b. €1.47
c. €1.73
d. None of these answers are correct
e. €2.07
(620-80)/300 = l.8
Câu 57 (ÐỀ THT): Antidilutive securities:
Select one:
a. include share options and warrants whose exercise price is less than the average market price of
ordinary shares
b. should be ignored in all earnings per share calculations.
c. are those whose inclusion in earnings per share computations would cause basic earnings per share to
exceed diluted earnings per share. Sai
d. should be included in the computation of diluted earnings per share but not basic earnings per share
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open market at €20 per share. Gridley issued a 20% share dividend on May 1. On August 1,
Gridley purchased 140,000 shares and immediately retired the shares. On November 1, 200,000
shares were sold for €25 per share. What is the weighted-average number of shares outstanding for
2019?
Select one:
a. None of these answers are correct
b. 375,000
c. 258,333
d. 358,333
e. 510,000
Câu 59 (ÐỀ THT): For the purposes of calculating diluted earnings per share, an entity shall adjust
the profit attributable to ordinary shareholders by the after-tax effect of the following item(s)
related to dilutive potential ordinary shares:
Select one:
a. other income or expenses only
b. interest only
c. dividends only
d. dividends, interest, other income or expenses
Câu 60 (ÐỀ PT): On March 1, 2013, Doll Co. issued 10-year convertible bonds at 106. During 2016,
the bonds were converted into ordinary shares when the market price of Doll's ordinary shares was
500 percent above its par value. On March 1, 2013, cash proceeds from the issuance of the
convertible bonds should be reported as:
Select one:
a. Equity for the portion of the proceeds attributable to the conversion feature and as a liability for the
balance
b. A liability for the principal amount of the bonds and share capital for the premium over the par value1
c. Equity for the entire proceeds
d. A liability for the entire proceeds
Câu 61 (ÐỀ PT): What is diluted EPS?
Select one:
a. The expected EPS if all loans are discharged
b. The expected EPS if all securities with an equity interest, exercise those interests
c.The expected EPS if equity options and warrants are redeemed
d. The expected EPS if the share price falls
Câu 62 (ÐỀ PT): A company issues £500,000 of 6.5% loan stock at a discount of 8%. Issue costs of
£25,000 are incurred. The loan stock should be measured initially at:
Select one:
a. £475,000
b. £460,000
c. £435,000
d. £500,000
Câu 63 (ÐỀ PT): In computations of weighted average of shares outstanding, when a share
dividend or stock split occurs, the additional shares are:
Select one:
a. considered outstanding at the beginning of the year
b. considered outstanding at the beginning of the earliest year reported
c. weighted by the number of days outstanding
d. weighted by the number of months outstanding
Câu 64 (ÐỀ PT): Which of the following is not an example of a potential ordinary share?
Select one:
a. Convertible preferred share
b. Convertible debt
c. Standard preferred share
d. Share warrants
Câu 65 (ÐỀ PT): A company's profit after tax for the year to 30 June 2014 was £1m. The
company's issued share capital at 1 July 2013 consisted of 2,400,000 ordinary shares of 50p each. A
further 300,000 shares were issued at full market price on 1 September 2013. Basic EPS for the
year is:
Select one:
a. 39.2p
b. 37.7p
c. 75.5p
d. 78.4p
37.7p = l.000.000/(2.400.000+300.000*l0/l2)
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an increase of 1,250,000 ordinary shares. The liability element of the bonds is $895,000 and the
effective interest rate is 6.5%. Income tax is charged at 30%. Calculate the adjustment to earnings
needed to measure diluted EPS for the year ended 31 Jan 20x5?
Select one:
a. Increase of 43,631
b. Decrease of 30,542
c. Decrease of 43,631
d. Increase of 30,542
30,542 = 895.000*6.5%*(l-30%)*9/l2
Câu 67 (ÐỀ PT): Earnings per share is calculated before accounting for which of the following
items?
Select one:
a. Minority interest
b. Preference dividend for the period
c. Taxation
d. Ordinary dividend
Câu 68 (ÐỀ PT): A company's issued share capital throughout an accounting period consists of
500,000 ordinary shares of 20p and 80,000 preference shares of £1. Profit after tax for the period is
£320,000 and the preference dividend is £8,000. Basic EPS for the period is:
Select one:
a. 62.4p
b. 64p
c. 55.2p
d. £3.12
62.4p=(320.000-8.000)/500.000
Câu 69 (ÐỀ PT): FX Services granted 15 million of its $1 par ordinary shares to executives, subject
to forfeiture if employment is terminated within three years. The ordinary shares have a market
price of $8 per share on the grant date. Ignoring taxes, what is the effect on earnings in the year
after the shares are granted to executives:
Select one:
a. $120 million
b. $40 million
c. $15 million
d. $0
Câu 70 (ÐỀ PT): On December 31, 2013, the Frisbee Company had 250,000 ordinary shares issued
and outstanding. On March 31, 2014, the company sold 50,000 additional shares for cash. Frisbee's
net income for the year ended December 31, 2014 was $700,000. During 2014, Frisbee declared and
paid $80,000 in cash dividends on its nonconvertible preference shares. What is the 2014 basic
earnings per share (rounded):
Select one:
a. $3.50
b. $2.80
c. $2.16
d. $3.10
Câu 71 (ÐỀ PT): The bonds are convertible into 6 million shares of $10 par ordinary shares. The
equity portion of the convertible bond is valued at $6 million at issuance. At June 30, 2013, the
unamortized balance in the discount on bonds payable account was $4 million. On June 30, 2013,
half the bonds were converted when Blair's ordinary shares with a market price of $30 per share.
When recording the conversion, Blair should credit share premium:
Select one:
a. $6 million
b. $8 million
c. $12 million
d. $11 million
There are $80 worth of convertible bonds, since half of them were converted to common stocks = $80
million x 50% = $40 million
Common stock = 6 million shares x 50% x $l0 (par value) = $30 million
Unamortized balance in bond discount = $4 million x 50% = $2 million
Additional paid-in capital = convertible bonds - common stock - unamortized bond discount = $40
million - $30 million - $2 million = $8 million
June 30, 20l3, Bond convertion:
Dr Bonds payable 40,000,000
Cr Common stock 30 ,000,000
Cr Discount on bonds payable 2 ,000,000
Cr Additional paid-in capital in excess of par value 8,000,000
Câu 72 (ÐỀ PT): The interest rate that is printed on the bond certificate is not referred to as the:
Select one:
a. Nominal rate
b. Effective rate
c. Stated rate
d. Contract rate
Câu 73 (ÐỀ PT): Nonconvertible bonds affect the calculation of:
Select one:
a. Both basic and diluted EPS
b. Basic earnings per share
c. Diluted earnings per share
d. None of these is correct
Câu 74 (ÐỀ PT): On January 1, 2013, an investor paid $291,000 for bonds with a principal amount
of $300,000. The contract rate of interest is 8% while the current market rate of interest is 10%.
Using the effective interest method, how much interest income is recognized by the investor in 2014
(assume annual interest payments and amortization):
Select one:
a. $25,140
b. $23,280
c. $29,610
d. $29,100
Câu 75 (ÐỀ PT): Patrick Roch International issued 5% bonds convertible into shares of the
company's ordinary shares. Upon issuance, Patrick Roch International should record:
Select one:
a. The proceeds of the bond issue entirely as debt if the bonds are mandatorily redeemable
b. The proceeds of the bond issue entirely as equity
c. The proceeds of the bond issue entirely as debt
d. The proceeds of the bond issue as part debt and part equity
Câu 76 (ÐỀ PT): How many types of potential ordinary shares must a corporation have in order to
be said to have a complex capital structure:
Select one:
a. 0
b. 1
c. 3
d. 2
Câu 77 (ÐỀ PT): Under its executive share option plan, Q Corporation granted options on January
1, 2014, that permit executives to purchase 15 million of the company's $1 par ordinary shares
within the next eight years, but not before December 31, 2016 (the vesting date). The exercise price
is the market price of the shares on the date of grant, $18 per share. The fair value of the options,
estimated by an appropriate option pricing model, is $4 per option. No forfeitures were anticipated,
however unexpected turnover during 2015 caused the forfeiture of 5% of the share options.
Ignoring taxes, what is the effect on earnings in 2016:
Select one:
a. $0
b. $20 million
c. $18 million
d. $19 million
$l9 million = l5*0.95*4 – l5*0.95*4*2/3
Câu 78 (ÐỀ PT): Basic earnings per share ignores:
Select one:
a. Some potential ordinary shares, but not others
b. All potential ordinary shares
c. Dividends declared on noncumulative preference share
d. Share splits
Câu 79 (ÐỀ PT): During 2014, Angel Corporation had 900,000 ordinary shares and 50,000 6%
preference shares outstanding. The preference share does not have cumulative or convertible
features. Angel declared and paid cash dividends of $300,000 and $150,000 to ordinary and
preference shareholders, respectively, during 2014. On January 1, 2013, Angel issued convertible
bonds. The carrying amount of the bonds on January 1, 2014 was $2,000,000. The effective rate on
the bonds was 5%. Each $1,000 bond is convertible into 5 ordinary shares. Angel's net income for
the year ended December 31, 2014, was $6 million. The income tax rate is 20%. What is Angel's
basic earnings per share for 2014, rounded to the nearest cent:
Select one:
a. None of these is correct
b. $5.57
c. $5.29
d. $6.50
$6.50 = (6000-l50)/900
Câu 80 (ÐỀ PT): The rate of interest that actually is incurred on a bond payable is called the:
Select one:
a. Coupon rate
b. Effective rate
c. Contract rate
d. Stated rate
Câu 81 (ÐỀ PT): At December 31, 2014 and 2013, G Co. had 50,000 ordinary shares and 5,000
shares of 5%, $100 par value cumulative preference share outstanding. No dividends were declared
on either the preference or ordinary share in 2014 or 2013. Net income for 2014 was $500,000. For
2014, basic earnings per ordinary share amounted to:
Select one:
a. $5.00
b. $9.00
c. $10.00
d. $9.50
$9.50 = (500.000-5.000*l00*5%)/50.000
Câu 82 (ÐỀ PT): On December 31, 2013, Albacore Company had 300,000 ordinary shares issued
and outstanding. Albacore issued a 10% share dividend on June 30, 2014. On September 30, 2014,
12,000 ordinary shares were reacquired as treasury shares. What is the appropriate number of
shares to be used in the basic earnings per share computation for 2014:
Select one:
a. 327,000
b. 303,000
c. 312,000
d. 342,000
327,000 = 300,000*l.l – l2000*3/l2 => Qtock divided không nhân trọng số thời gian
Câu 83 (ÐỀ PT): Dilutive convertible bonds affect both the numerator and the denominator in
computing diluted EPS:
Select one:
a. TRRE
b. JAFSE
Câu 84 (ÐỀ PT): Baldwin Company had 40,000 ordinary shares outstanding on January 1, 2014.
On April 1, 2014 the company issued 20,000 ordinary shares. The company had outstanding fully
vested incentive share options for 10,000 shares exercisable at $10 that had not been exercised by its
executives. The average market price of ordinary share for the year was $12. What number of
shares (rounded) should be used in computing diluted earnings per share:
Select one:
a. 65,000
b. 55,000
c. 56,667
d. 61,667
56,667 = 40.000+20.000*9/l2+l0.000-l0.000*$l0/$l2
Câu 85 (ÐỀ PT): On January 1, 2013, Ozark Minerals issued $20 million of 9%, 10-year
convertible bonds at 101. The bonds pay interest on June 30 and December 31. Each $1,000 bond is
convertible into 40 shares of Ozark's no par ordinary shares. Bonds that are similar in all respects,
except that they are nonconvertible, currently are selling at 99. Upon issuance, Ozark should:
Select one:
a. Credit premium on bonds payable $200,000
b. Credit bonds payable $18,800,000
c. Credit bonds payable $20,200,000
d. Credit equity $200,000
Câu 86 (ÐỀ PT): If a company meets the requirements to report its bonds at fair value, it reports
changes in fair value in its income statement:
Select one:
a. TRUE
b. FALSE
Câu 87 (ÐỀ PT): On January 1, 2014, Red Ltd. issued share options for 200,000 shares to a division
manager. The options have an estimated fair value of $6 each. To provide additional incentive for
managerial achievement, the options are not exercisable unless divisional revenue increases by 6%
in three years. Red initially estimates that it is probable the goal will be achieved. Ignoring taxes,
what is reduction in earnings in 2014:
Select one:
a. $0
b. $200,000
c. $1,200,000
d. $400,000
400,000 = 200.000*6*l/3
Câu 88 (ÐỀ PT): Except for tax considerations, the potentially dilutive effect of convertible
preference shares is handled in EPS calculations in much the same way as convertible debt:
Select one:
a. TRUE
b. FALSE
Câu 89 (ÐỀ PT): The initial selling price of bonds represents the sum of all the future cash outflows
required by the obligation:
Select one:
a. TRUE
b. FALSE
Câu 90 (ÐỀ PT): Premium on bonds payable is a contra liability account:
Select one:
a. TRUE
b. FALSE
Câu 91 (ÐỀ PT): Blue Cab Company had 50,000 ordinary shares outstanding on January 1, 2014.
On April 1, 2014, the company issued 20,000 ordinary shares. The company had outstanding fully
vested incentive share options for 5,000 shares exercisable at $10 that had not been exercised by its
executives. The end-of-year market price of ordinary share was $13 while the average price for the
year was $12. The company reported net income in the amount of $269,915 for 2014. What is the
diluted earnings per share (rounded):
Select one:
a. $4.50
b. $3.81
c. $4.10
d. $3.60
Câu 92 (ÐỀ PT): Amortization of discount on bonds payable results in interest expense that is less
than the actual cash outflow:
Select one:
a. FALSE
b. TRUE
Câu 93 (ÐỀ PT): Interest expense is:
Select one:
a. The stated interest rate times the amount of the debt outstanding during the interest period
b. The effective interest rate times the principal amount of the debt.
c. The effective interest rate times the carrying amount of the debt outstanding during the interest period
d. The stated interest rate times the principal amount of the debt
Câu 94 (ÐỀ PT): Dilutive potential shares shall be deemed to have been converted into shares:
a.At the start of the period or, if later, the date of the issue of the potential shares
b.At the end of the period
c.At the start of the period
d.The date of the issue of the potential shares
Câu 95 (ÐỀ PT): A company's profit after tax for the year to 31 December 2015 was £275,000. The
company's issued share capital on 1 January 2015 consisted of 350,000 ordinary shares. On 1 April
2015, the company made a 1 for 7 rights issue at £1 per share. The market value of the company's
shares just before this rights issue was £1.40 per share. Basic EPS for 2015 is:
a. 70.1p b. 75.8p c. 68.75p d. 70.4p
Câu 96 (ÐỀ PT): Which of the following should be adjusted when calculating dilutive EPS?
a.Finance charges payable on convertible debt
b.Preference dividends payable on convertible preference shares
c.Payments to non-discretionary employee profit sharing plans
d.All of these
Câu 97 (ÐỀ PT): Platinum Limited had an after tax profit of $400,000 for the year. $80,000 of this
was earned from the once off sale of machinery. During the period it paid dividends to the ordinary
shareholders of $100,000 and $50,000 to preference shareholders.
It had 1,000,000 ordinary shares in issue for the entire period. The basic earnings per share for
Platinum Limited in the period is…
a. 33c
b. 32c c.35c
d.17c
Câu 98 (ÐỀ PT): Ordinary shares outstanding during the period are
a. Based on the outstanding shares in the previous period
b. Based on the outstanding shares at the start of the period
c. Based on the outstanding shares at the end of the period
d. The weighted average number of shares outstanding during the period
Câu 99 (ÐỀ PT): Diluted EPS shows
a.The expected EPS if all securities with an equity interest, exercise those interests
b.The expected EPS if the share price falls
c.The expected EPS if all loans are discharged
d. The expected EPS if equity options and warrants are redeemed
Câu 100 (ÐỀ PT): Where should basic EPS be presented in the financial statements?
a.Statement of Comprehensive Income
b.Statement of Financial Position
c.Statement of Changes in Equity
d.Notes to the financial statements
Câu 101 (ÐỀ PT): Basic earnings per share shall be calculated by dividing the numerator by the
number of ordinary shares outstanding (the denominator):
a.At the start of the period
b.At the end of the period
c.The weighted-average during the period
d.At the date of the capitalisation issue
Câu 102 (ÐỀ PT): Contracts, such as purchased put options and purchased call options (i.e. options
held by the undertaking on its own shares) are included:
a.Neither Basic EPS calculation nor Diluted EPS calculation
b.Diluted earnings per share calculation
c.Basic earnings per share calculation
d.Basic EPS calculation and Diluted EPS calculation
Câu 103 (ÐỀ PT): Shares are usually included in the weighted average number of shares from the
date consideration is…
a.Received
b.Receivable
c.Discussed
d. Agreed
Câu 104 (ÐỀ PT): On 1 January 20X5, a company's issued share capital consisted of 120,000
ordinary shares of £1. On 1 May 20X5, the company issued another 30,000 ordinary shares and on
1 July 20X5 the company issued a further 50,000 shares. Both issues were made at full market
price. The weighted average number of shares outstanding during the year to 31 December 20X5
was:
a. 165,000 share
c.160,000 share,
b.156,667 share
d.175,000 share
(Weighted average = (l20,000 × 4/l2) + (l50,000 × 2/l2) + (200,000 × 6/l2) = l65,000 share)
Câu 105 (ÐỀ PT): A company's profit after tax for the year to 31 December 2015 was £150,000. The
comparative figure for 2014 was £135,000. The company's issued share capital at 1 January 2014
consisted of 240,000 ordinary shares. A 1 for 4 bonus issue was made on 1 July 2015. There were no
other share issues in either year. Basic EPS for 2015 and restated basic EPS for 2014 are:
a.55.6p and 50p
c.50p and 45p
b.50p and 56.25p d. 55.6p and 56.25p
(Basic EPQ for 20l5 is £l50,000/300,000 = 50p Restated basic EPQ for 20l4 is £l35,000/300,000 =
45p)
Câu 106 (ÐỀ PT): On 1 January 2016, a company buys £50,000 of 7% loan stock for £47,865.
Interest is received on 31 December each year and the stock will be redeemed at a premium of 10%
on 31 December 2019. The effective interest rate is 10.5% per annum. Calculate the amortised cost
of the loan stock at 31/12/ 2016
a. £51,750 b. £ 51,526 c. £ 49,391 d. £50,000
Câu 107 (ÐỀ PT): Anti-dilution is:
a.An increase in earnings per share when ordinary shares are converted to convertible instruments
b.A decrease in earnings per share when convertible instruments are converted to ordinary shares
c.An increase in earnings per share when convertible instruments are converted to ordinary shares
d.An decrease in earnings per share when ordinary shares are converted to convertible instruments
Câu 108 (ÐỀ PT): Options and warrants are dilutive, when they would result in the issue of shares
for:
a.Less than the average market price of shares during the period
b.The average market price of shares during the period
c.More than the average market price of shares during the period.
d.The average market price of shares during the period
Câu 109 (ÐỀ THT): Which of the following events requires no adjustment to the prior period’s
EPS calculations?
Select one:
a. Bonus issue of shares
b. Reverse share split
c. Exercise of stock warrant
d. Share split
Câu 110 (ÐỀ NXH): M has profits for the year of $350,670. At the start of the current year on 1 Jan
20x1, there were 1,350,000 $1 shares in issue. On 31 Mar 20x1, there was a 1 for 3 rights issue at
$3.4. The market price of share just before the rights issue was $4.10. What is the EPS for the year
ended 31 Dec 20x1?
Select one:
a. 20.6c
b. 20.8c
c. 23.6c
d. 25.9c
Câu 111 (eBook): All companies which comply with international standards must present EPS
figures in the statement of comprehensive income. True or False?
a. True
b. False
IAQ33 applies to public companies only.
Câu 112 (eBook): On 1 January 2015, a company's issued share capital consisted of 120,000
ordinary shares of £1. On 1 May 2015, the company issued another 30,000 ordinary shares and on 1
July 2015 the company issued a further 50,000 shares. Both issues were made at full market price.
The weighted average number of shares outstanding during the year to 31 December 2015 was:
a. 165,000
b. 160,000
c. 156,667
d. 175,000
Weighted average = (l20,000 × 4/l2) + (l50,000 × 2/l2) + (200,000 × 6/l2) = l65,000 shares
Câu 113 (eBook): A company's profit after tax for the year to 30 June 2016 was £1m. The
company's issued share capital at 1 July 2015 consisted of 2,400,000 ordinary shares of 50p each. A
further 300,000 shares were issued at full market price on 1 September 2015. Basic EPS for the
year is:
a. 75.5p
b. 39.2p
c. 78.4p
d. 37.7p
Weighted average = (2.4m × 2/l2) + (2.7m × l0/l2) = 2,650,000. Basic EPQ = £lm/2.65m = 37.7p.
Câu 114 (eBook): When calculating earnings per share, a bonus issue made during the current
accounting period is treated as if it had been made at the beginning of the earliest period for which
comparative figures are presented. True or False?
a. True
b. False
Câu 115 (eBook): In February 2016, a company makes a 1 for 10 rights issue at 70p per share. The
market value of the company's shares just before this rights issue was £1.25 per share. The
theoretical market value per share after the rights issue has been made is:
a. 70p
b. £1.32
c. £1.20
d. £1.14
Before the rights issue, every ten shares had a market value of £l2.50. After the rights issue, every
eleven shares should have a market value of (£l2.50 + 70p) = £l3.20. Qo the market value per share
after the rights issue should be £l3.20/ll = £l.20.
Câu 116 (eBook): Diluted EPS can never exceed basic EPS. True or False?
a. True
b. False
Only dilutive potential ordinary shares are taken into account when calculating diluted EPQ.
Antidilutive ordinary shares are ignored.
Câu 117 (eBook): In most cases, share options will not have a dilutive effect on EPS when they are
exercised. True or False?
a. True
b. False
In general, share options may be exercised at less than full market price and will therefore have a
dilutive effect on the company's EPQ.
Câu 118 (ÐỀ THT): Stine Inc. had 300,000 ordinary shares issued and outstanding at December 31,
2018. On July 1, 2019 an additional 300,000 shares were issued for cash. Stine also had share
options outstanding at the beginning and end of 2019 which allow the holders to purchase 90,000
ordinary shares at €28 per share. The average market price of Stine’s ordinary shares was €35
during 2019. The number of shares to be used in computing diluted earnings per share for 2019 is:
a. 618,000
b. 672,000
c. 522,000
d. None of these answers are correct
e. 468,000
Câu 119 (Ðề THT): A company with convertible bonds outstanding will assume hypothetical
conversion at the earliest point of the year to compute diluted EPS. The numerator is:
a. decreased by the interest paid on the bonds during the fiscal year
b. increased by the interest paid on the bonds during the fisal year.
c. decreased by the after – tax interest paid on the bonds during the fiscal year.
d. increased by the after – tax interest paid on the bonds during the fiscal year.
Câu 120 (Ðề THT): When computing diluted EPS, both the numerator and denominator are
affected by:
a. Convertible bonds
b. Stock options
c. Stock warrants
d. Preferred stock
Câu 121 (Ðề THT): Accounting standards require which one of the following groups of
presentations on the income statement?
a. Basic and diluted EPS for all period presented for net income only
b. Basic and diluted EPS for current period only for income from continuing operations, discontinued
operations, and net income.
c. Basic and diluted EPS for all periods presented for income from continuing operations, discontinued
operations, and net income.
d. Basic EPS for three periods for income from continuing operations and net income only.
Câu 122 (Ðề THT): Công ty E có 3 loại chứng khoán pha loãng tiềm tàng , Với các thông tin như
sau :
Chứng khoán
Mức tác đong lợi nhuẠn sau thuế
Mức tác đong số lượng cổ phiếu
phổ thông bình quân
Cổ phiếu ưu đãi chuyển đổi
+$50,000
+16,000
Quyền chọn mua cổ phiếu
$0
+7,000
Trái phiếu chuyển đổi
+ $ 20,000
+6,000
Thứ tự lần lượt đưa các chứng khoán này vào tính toán EPS Pha loãng là :
a. Quyên chọn mua cổ phiếu , Trái phiếu chuyển đổi , Cổ phiếu ưu đãi chuyển đổi
b. Quyển chọn mua cổ phiếu , Cổ phiếu tru đãi chuyển đổi , Trái phiếu chuyển đổi
c . Trái phiếu chuyển đổi , Cổ phiếu ưu đãi chuyển đổi , Quyền chọn mua cổ phiếu
d . Cổ phiếu ưu đãi chuyển đổi , Quyền chọn mua cổ phiếu , Trái phiếu chuyển đổi
Câu 123 (Ðề THT): Công ty A báo cáo $ 400,000 lợi nhuẠn sau thuế và 100,000 cổ phiếu phổ thông
đang lưu hành trong năm . Ngoài ra , công ty A đang lưu hành 60,000 cổ phiếu ưu đãi 8%/ năm với
mỎnh giá $ 100 / cổ phiếu , có thể chuyển đổi thành 10 cổ phiếu phổ thông tương ứng 1 cổ phiếu ưu
đãi . Từ số trong công thức tính EPS cơ bản và EPS pha loãng là:
a . EPS cơ bản : $ 400,000 – (60,000 x $ 100 x 8 % ) ; EPS pha loãng : $ 400,000-(60,000 x $ 100 x 8 % )
b . EPS cơ bản : $ 400,000 ; EPS pha loãng : $ 400,000
c . EPS cơ bản : $ 400,000 – (60,000 x $ 100 x 8 % ); EPS pha loãng : $ 400,000 + ( 60,000 x $ 100 x 8
%)
d . EPS cơ bản : $ 400,000 – (60,000 x $ 100 x 8 % ) ; EPS pha loãng : $ 400,000
Câu 124 (Ðề THT): Công ty V báo cáo $700,000 lợi nhuẠn sau thuế và 200,000 cổ phiếu phổ thông
đang lưu hành, không phát hành thêm cổ phiếu trong năm. Cách đây 2 năm, công ty đã thưởng
giám đốc điều hành 20,000 quyền chqn mua cổ phiếu để mua cổ phiếu phổ thông với giá thực thi là
$15 nếu giám đốc điều hành làm viỎc trong 2 năm. Giá thị trường bình quân trong năm của 1 cổ
phiếu phổ thông là $20. EPS cơ bản và EPS pha loãng của công ty V trong năm là:
a. EPS cơ bản: $3.50 và EPS pha loãng: $2.34
b. EPS cơ bản: $3.41 và EPS pha loãng: $3.41
b. EPS cơ bản: $3.50 và EPS pha loãng: $3.50
b. EPS cơ bản: $3.50 và EPS pha loãng: $3.41
Câu 125 (Ðề THT): Vào ngày 1/1/20x3 công ty R có 900 triỎu cổ phiếu đang lưu hành. Ngày
1/6/20x3, Công ty R công bố Cổ phiếu thường theo tỷ lỎ 9 nhẠn 1 và không phát hành thêm Cổ
phiếu trong năm 20x3. EPS của công ty R trong năm 20x2 là 40,000 đồng. EPS cơ bản so sánh được
trình bày trên BCTC kết thúc 31/12/x3 là:
a. 36,000
b. 44,444
c. 4,444
d. không thể xác định được
Câu 126 (Ðề THT): Trong năm , công ty C có 200,000 Cổ phiếu phổ thông lưu hành và lợi nhuẠn
sau thuế : $500,000. Vào đầu năm công ty C đã phát hành 10,000 quyền chqn mua 1 Cổ phiếu
tương ứng với giá thực thi $20/CP và 20,000 Cổ phiếu ưu đãi tích luỹ 6%/ năm không chuyển với
mỎnh giá $100/CP . Giá thị trường bình quân trong năm của 1 Cổ phiếu phổ thông là $15 . EPS cơ
bản và EPS pha loãng của công ty C trong năm là :
a EPS cơ bản : $ 1.90 vàEPS pha loãng $2.38
b . EPS cơ bản : $1.90 và EPS pha loãng $1.90
c . EPS cơ bản : $ 2.50 và EPS pha loãng $2.38
d . EPS cơ bản : $ 2.50 và EPS pha loãng $ 1.81
Câu 127 (Ðề THT): Công ty niêm yết S đã phát hành 20,000,000 CP vào ngày 1/1/20x2 .Vào ngày
1/6/20x2 công ty S tiếp tực phát hành quyền mua cổ phiếu theo tỷ lỎ 1:4 với giá $ 1.5 / cổ phiếu cho
tất cả cổ đông. Trị giá một Cổ phiếu trước khi phát hành quyền mua $2.20 và trị giá 1 cổ phiếu theo
lý thuyết không bao gồm giá quyền mua sau ngày phát hành quyền mua là $ 2.06. EPS cơ bản của
công ty S trong năm 20x1 là $0.462. EPS cơ bản so sánh được trình bày trên BCTC kết thúc ngày
31/12/20x2 là:
a . $ 0.37
b . 0.433
c . $ 0.462
d. $ 0.493
Câu 128 (Ðề THT): Vào ngày 1/1/20x1 , công ty H có 110,000 CP phổ thông và 10,000 cổ phiếu ưu
đãi tích luỹ 6%/năm không chuyển đổi với mỎnh giá $ 100 / cổ phiếu đang lưu hành. Lợi nhuẠn sau
thuế năm 20x1 là $ 535,000. Ngày 1/7/20x1, công ty H đã quyết định không chi trả cổ tức bằng tiền
mà công bố trả cổ tức bằng cổ phiếu phổ thông theo tỷ lỎ 10 % cổ phiếu phổ thông nắm giữ , EPS
cơ bản năm 20x1:
a . $ 4.32
b . $ 4.92
c . $ 3.93
d $4.42
II. TỰ LUẦN:
Bài 1 (ÐỀ TXH): Lợi nhuẠn sau thuế của công ty B là $25,000,000 cho năm tài chính kết thúc
31/12/20x2 và $14,250,000 cho năm kết thúc ngày 31/12/20x1. Theo thông tin trên báo cáo tình hình tài
chính, cấu trúc vốn của công ty B vào ngày 31/12/20x2 như sau:
Vốn cổ phần phát hành
90 triỎu cổ phiếu thường, mỎnh giá $1
$90,000,000
5,000,000 cổ phiếu ưu đãi chuyển đổi, lãi suất 55, mỎnh giá 5$ 15,000,000
105,000,000
Thông tin bổ sung như sau:
1.
2.
3.
4.
5.
Vào ngày 1/7/20x1, B phát hành quyền mua cổ phiếu (rights issue) tỷ lỎ 1:4 với giá phí $1.0. Giá
thị trường của B trước khi phát hành quyền là $2.95/ cổ phiếu.
Vào ngày 1/4/20x2, B phát hành cổ phiếu thưởng (bonus issue) theo tỷ lỎ 1:1.
Vào ngày 1/10/20x1, B phát hành cổ phiếu ưu đãi, có thể chuyển đổi thành 2 cổ phiếu thường sau
khi đã phát hành cổ phiếu thưởng.
Vào ngày 1/7/20x2, 2,000,000 cổ phiếu ưu đãi đã được chuyển đổi thành cổ phiếu thường. Cổ tức
của cổ phiếu ưu đãi miễn thuế và được thanh toán vào kết thúc mỗi quý trong năm 20x1 và 20x2.
B phát hành 10,000,000 cổ phiếu thường với mỎnh giá $1 để mua mot toà nhà vào ngày
1/10/20x2. Cổ phiếu được phát hành theo giá thị trường.
Yêu cầu:
1.
2.
Xác định cấu trúc vốn của công ty B vào ngày 1/1/20x1 (tính theo số lượng cổ phiếu).
Tính lợi nhuẠn trên mỗi cổ phiếu (EPS) của công ty B trong năm 20x1.
Câu l:
Qố lượng cổ phiếu ngày 3l/l2/20x2:
90,000,000
(Trừ): Qố lượng cổ phiếu phát hành ngày l/l0/20x2:
l0,000,000
Qố lượng cổ phiếu ngày 30/9/20x2:
80,000,000
(Trừ): Qố lượng cổ phiếu ưu dãi dược chuyển dổi ngày l/7/20x2:
4,000,000
Qố lượng cổ phiếu ngày 30/6/20x2:
(Trừ): Cổ phiếu thưởng phát hành ngày l/4/20x2
76,000,000
:
38,000,000
Qố lượng cổ phiếu ngày l/l/20x2:
38,000,000
(Trừ): Qố lượng cổ phiếu phát hành theo hình thỤc quyền mua cổ phiếu ngày l/7/20xl: 7,600,000
Qố lượng cổ phiếu ngày l/l/20xl:
30,400,000
Câu 2:
Tính EPQ năm 20xl:
Lợi nhu¾n sau thuế năm 20xl = l3,8l2,500
Tính số lượng cổ phiếu bình quân lưu hành năm 20xl như sau:
Tỷ trọng thời
(Time Qố lượng cổ
Qố lượng cổ Tỷ lỎ thưởng gian
phiếu
weighted)
Ngày
(Bonus element)
phiếu bình quân
6/l2
30,400,000
l7,480,000
l/l/20xl
l.l5
38,000,000
6/l2
l9,000,000
l/7/20xl
l
36,480,000
EPQ năm 20xl = 37.86
Bài 2 (ÐỀ TXH): Ngày 1/1/20x0, công ty XYZ đã phát hành trái phiếu chuyển đổi (convertible bond)
với mỎnh giá (norminal value) là $100,000. Giá bán bằng với mỎnh giá. Trái phiếu này đến hạn vào ngày
31/12/20x3. Lãi suất danh nghĩa (coupon rate) của trái phiếu là 10%/năm. Lãi suất được thanh toán vào
cuối mỗi 6 tháng vào ngày 30/6 và 31/12 hàng năm. Trái phiếu tương tự mà không có quyền chuyền đổi
được phát hành trên thị trường với mức lãi suất là 15%/năm. Tỉ lỎ chuyển đổi: $1 mỎnh giá trái phiếu
được đổi 0.75 cổ phần thường tại bất cứ thời điểm nào cho đến ngày hết hạn.
Yêu cầu:
1.
Tính toán và ghi nhẠn bút toán tại ngày 1/1/20x0; 30/6/20x0 và 31/12/20x0.
2.
Giả sử rằng ngày 1/1/20x1, 60% người nắm giữ trái phiếu thực hiỎn chuyển đổi thành vốn chủ sở
hữu và cho đến ngày đáo hạn không có bất kỳ trái phiếu nào được chuyển đổi. Tính toán và ghi nhẠn bút
toán tại ngày 1/1/20x1.
3.
Giả sử lợi nhuẠn sau thuế là $10,000,000. Số lượng cổ phần thường (ordinary share) đang lưu
hành của tại ngày 1/1/20x0 là 500,000 cổ phần, và ngoài cổ phần thường, công ty chỉ có duy nhất trái
phiếu chuyển đổi đã kể ở trên. Thuế suất thuế thu nhẠp doanh nghiỎp 25%. Hãy tính EPS cơ bản và EPS
pha loãng cho năm 20x0.
Câu l:
Debt component: $85,356.74
Proceed: $l00,000
Equity component: $l4,643.26
Liability (l/l)
Interest
Payment
Liability (3l/l2)
6/20x0
85,356.74
6,40l.76
5,000
86,758.50
l2/20x0
86,758.50
6,506.89
5,000
88,265.39
Journal entries:
- As at l/l/20x0:
Dr. Cash: l00,000
Cr. Convertible bond: 85,356.74
Cr. Capital reserve: l4,643.26
- As at 30/6/20x0:
Interest expense:
Dr. Interest expense and Cr. Convertible bond: 6,40l.76
Payment:
Dr. Convertible bond and Cr. Cash: 5,000
- As at 3l/l2/20x0:
Interest expense:
Dr. Interest expense and Cr. Convertible bond: 6,506.89
Payment:
Dr. Convertible bond and Cr. Cash: 5,000
Câu 2:
Partial conversion:
Dr. Convertible bond: 52,959.23
Dr. Capital reserve: 8,785.96
Cr. Ordinary Qhare: 6l,745.l9
Câu 3:
Basic EPQ = $20
Diluted EPQ = $l7.4l
Bài 3 (ÐỀ LVNT):
The following information pertains to Silver Ltd for the year ended 31 December 20x4.
Net profit attributable to ordinary shareholders in 20x4 $3,000,000
Ordinary shares outstanding $4,000,000
Silver has the following potential dilutive securities outstanding as at 31 December 20x4:
Options
In December 20x3, Silver granted 800,000 share options to certain executives. Each option entitles the
holder to subscribe for one ordinary share at a price of $3.50 per share. The average market price of
Silver’s share during 20x4 was $5. The options were exercisable one year after the grant date. None of
the options had been exercised as of 31 December 20x4.
Conνertible preference shares
In October 20x3, Silver issues 200,000 10% non-cumulative convertible preference shares at $8 per
share. The conversion ratio is four preference shares for five ordinary shares of $1 each. Preference
dividends are paid half-yearly. None of the preference shares had been converted as of 31 December
20x4.
Conνertible bonds
On 1 January 20x4, Silver issues at par $8,000,000 convertible bonds with a coupon rate of 4% per
annum. The bonds mature on 31 December 20x5. Interest on the bonds is payable semi-annually in
arrears on 30 June and 31 December. At the time of issue, a similar bond with no conversion option
would have to be issued at an interest rate of 10% per annum. Each $1,000 bond is convertible to 700
ordinary shares. None of the bonds has been converted. Silver accounts for the convertible bonds in
aTcacxoradtaenicse2w0%
ith. A
thm
e roerqtiuziarteim
onenotfsthoef IbAoSnd32d.iscount is a non-tax deductible expense. However, IAS 12
requires the recognition of deferred tax expense on the amortization expense
Required: Entry all journals.
Bài 4 (ÐỀ THT): For the year ended 31 December 20x6, Eraser Corporation reported profit after tax of
$8,000,000.
The company also provides the following information for the year 20x6.
a. At 1 January 20x6, the number of outstanding ordinary shares was 15,000,000. Thereafter, on 30
September 20x6, Eraser issued 9,000,000 new shares at fair value to acquire the business of a competitor.
b. Eraser granted 3,500,000 options to its key managers on 1 December 20x6. Each option allowed the
holder to purchase one unit of ordinary share at $1. The average market price of Eraser’s share during
20x6 was $1.75. The options were exercisable only after two years from the date of grant.
c. On 1 January 20x6, Eraser issued at par a convertible bond with a nominal value of $25,000,000 and a
coupon rate of 3% per annum. Interest on the bond was payable annually on 31 December. The bond,
which matures on 31 December 20x9, is convertible into 10,000,000 ordinary shares.
As at 31 December 20x6, there had been no conversion of the bond into ordinary shares. Eraser accounted
for this bond in accordance with IAS 32. The market interest rate at the time of issue of the bond was
5.5% per annum.
d. The tax rate was 20%.
Required: Calculate the basic and diluted earnings per share for the year ended 31 December 20x6.
Basic earnings per share (20x6)
46.38 cents
Calculation of weighted average number of shares:
From l/l/20x6 to 30/9/20x6:
ll,250,000
From l/l0/20x6 to 3l/l2/20x6:
6,000,000
Average weighted number of shares
l7,250,000
Debt component: PV of interest
$2,628,863
PV of principal
$20,l80,4l9
PV of debt component
$22,809,282
Interest (net of tax) saved
$l,003,608
Calculation of adjusted net profit:
Net profit as reported
$8,000,000
Add: effective interest (net of tax)
$l,003,608
Total net profit to calculate diluted EPQ
$9,003,608
Calculation of weighted average number of shares for diluted earnings per share:
Weighted average number of shares for basic EPQ
l7,250,000
Add: ordinary shares issued at nil on assumed exercise of option
l25,000
Add: ordinary shares issued on assumed conversion of bond
l0,000,000
Average weighted number of shares
27,375,000
Diluted earnings per share
32.89 cents
Bài 5 (ÐỀ THT): Innis Co has provided the following information to their accountant.
a. The number of ordinary shares outstanding as at 1 January 20x4 was 50,000,000.
b. 10,000,000 convertible preference shares were issued for assets in a purchase transaction on 1 April
20x3. Each convertible preference share has a quarterly dividend of $0.06, payable at the end of each
quarter. Each share was convertible into one ordinary share. Holders of 9,000,000 shares converted their
preference shares into ordinary shares on 1 June 20x4.
c. On 1 January 20x4, warrants to buy 8,000,000 ordinary shares at $2.50 per share for a period of five
years were issued. On 1 October 20x4, 50% of the outstanding warrants were exercised.
d. The following information on net profit (loss) after tax before dividends is provided as shown:
Profit/(loss)
discontinued operations
$
First half
12,500,000
before
Net profit/(loss)
$
12,500,000
Second half
7,500,000
5,000,000
Full year
20,000,000
17,500,000
e. For the calendar-year 20x4, it was reported that the average market prices of Innis Co’s ordinary shares
were as follows:
First half
$3.25
Second half
$3.70
Full year
$3.50
f. Lastly, the average market price of ordinary shares from 1 July 20x4 to 1 October 20x4 was $3.65
while that for the period from 1 January 20x4 to 1 October 20x4 was $3.4.
Required:
(a) Calculate the diluted earnings per share for the year ended 31 December 20x4.
(b) Calculate the basic earnings per share for each interim period and for the full year ended 31 December
20x4.
(a) Calculate the diluted earnings per share for the year ended 31 December 20x4.
Diluted earnings per share (20x4 - full year)
Profit from continuing operations
$20,000,000
Less preference share dividends
$0
Loss from discontinued operations
$-2500000
Profit attributable to ordinary shareholders
$l7,500,000
Calculation of weighted average number of shares:
4,000,000 warrants exercised on l October now assumed to be exercised at l Jan 20x4
Exercise price
$2.5
Average market price from l Jan to l Oct
$3.4
No. of shares deemed issued at nil
794,ll8
4,000,000 warrants assumed to be exercised on l Jan 20x4:
Exercise price
$2.5
Average market price at second half year
$3.5
No. of shares deemed issued at nil
l,l42,857
Total incremental shares
l,936,975
Number of shares outstanding at l Jan 20x4
50,000,000
Conversion of preference shares
l0,000,000
Actual conversion of warrants
l,000,000
Assumed conversion
l,936,975
Weighted average number of shares for basic EPQ
62,936,975
Diluted EPQ (full year 20x4):
Profit from continuing operations
3l.78 cents
Loss from discontinued operations
-3.97 cents
Total Profit
27.8l cents
(b) Calculate the basic earnings per share for each interim period and for the full year ended 31
December 20x4.
Basic earnings per share (20x4 - first half):
Profit from continuing operations
Less: preference share dividends
$l2,500,000
-l,200,000
Profit attributable to ordinary shareholders
$ll,300,000
Weighted average number of shares
50,000,000
Basic EPQ (first half)
22.6 cents
Basic earnings per share (20x4 - second half):
Profit from continuing operations
$7,500,000
Less: preference share dividends
Loss from discontinued operations
Profit attributable to ordinary shareholders
-l20,000
-2,500,000
$4,880,000
Calculation of weighted average number of shares:
Number of shares outstanding (l Jul to 3l Dec)
50,000,000
Conversion of preference shares
9,000,000
Exercise of warrants
2,000,000
Weighted average number of shares
6l,000,000
Basic EPQ (second half)
Profit from continuing operations
$l2.l
Loss from discontinued operations
$-4.l
Profit
$8
Basic EPQ (20x4 - full year)
Profit from continuing operations
20,000,000
Less preference share dividends
-l,320,000
Loss from discontinued operation
$-2,500,000
Profit attributable to ordinary shareholders
$l6,l80,000
Calculation of weighted average number of shares:
Number of shares outstanding
50,000,000
Conversion of preference shares
4,500,000
Exercise of warrants
l,000,000
Weighted average number of shares
55,500,000
Basic EPQ (full year):
Profit from continuing operations
33.66
Loss from discontinued operations
-4.50
Profit
29.l6
Bài 6 (ÐỀ LVNT): Sequency:
The following information pertains to Eastwind Enterprises td for the year ended 31/12/20x4:
Net profit attributable to OS in 20x4: $2,000,000
OS outstanding: 3,000,000
Eastwind has the following potential dilutive securities outstanding as at 31/12/20x4:
(a) In 12/20x3, Eastwind granted 200,000 share option to certain executives. Each option
entitles the holder to subscribe for one OS at a price of $ 1.5 per share. The average market price
of Eastwind’s share during 20x4 was $2. The option were exercisable one year after grand date.
None of the options had been exercised as at 31/12/20x4.
(b) In 10/20x3, Eastwind issues 600,000 8% non – cumulated convertible preference shares at
$10 per share. The conversion ratio is three preference shares for four OS of $1 each. Preference
dividends (assumed to be tax exempt) are paid half – yearly. None of the preference shares had
been converted as of 31/12/20x4.
(c) On 1/120x4, Eastwind issues at par $5,000,000 convertible bonds with a coupon rate of 3%
per annum. The bonds mature on 31/12/20x5. Interest on the bonds is payable semi annually in
arrears on 30/6 and 31/12. At the time of issue, a similar bond with no conversion option would
have to be issued at an interest rate of 6% per annum Each $1,000 bond is convertible to 500
OS. None of the bonds has been converted. Eastwind accounts for the convertible bonds in
accordance with the requirement of IAS 32.
TIAaxS 1ra2tereiqsu2ir0e%
s .thAemreocrot giznaittiion of dtheefebrroenddtadxisecxopuenntsies oanntohne atamxodrteidzautcitoinbleexepxepnesnese. However,
(a) Qhare
option
(b) Convertible
preference
share
(c) Convertible
Bond
Numerator Denominator
effect
effect
200,000 –
$0
(200,000 x l.5/2)
= 50,000
600,000 x
(600,000/3) x 4 =
l0 x 8% =
$800,000
$480,000
$228,2l9
(5,000,000/l,000
) x 500 =
$2,500,000
EPIQ
Rank
0
l
$0.6
3
$0.09l
2
Note
Effective
interest
method
.
Convertible 0
l (30/6/x4) 2 (3l/l2/x4) 3 (30/6/x5) 4 (3l/l2/x5)
Bond (4
periods)
Cash flow
$75,000
$75,000
$75,000
$5,075,000 (5,000,000
x 3%) /2
of bond
PV (cash flow, 3%) = $4,72l,2l7 = Liability component
Nominal value of bond: $5,000,000 → Equity component (Discount of bond) = $278,782
Qchedule
of Payment
discount
on (l.5%)
convertible bond for
20x4
(l)
(2)
l/l/20x4
30/6/20x4
3l/l2/20x4
Total interest
After tax interest
expense
75,000
75,000
Effective
Interest
(3%)
CA of bond Amortization of Unamortized
(Liability)
discount
discount
(Equity)
(3) = (4) x (4) = (4) + (3) (5) = (3) – (2)
– (2)
3%
(4) = (4) + (5)
4,72l,2l7
l4l,637
4,787,854
66,637
l43,637
4,856,49l
68,637
285,274
228,2l9
Numerator
Denominator
Basic EPQ
Qhare option
$2,000,000
$2,000,000 + 0 =
$2,000,000
Convertible
bonds
$2,000,000 +
$228,2l9 =
3,000,000
3,000,000 +
50,000 =
$3,050,000
$3,050,000 +
$2,500,000 =
Convertible
preference share
$2,228,2l9 +
$480,000 =
$2,708,2l9
$5,550,000 +
$800,000 =
$6,350,000
2l2,l45
l43,508
Provisional
diluted EPQ
$0.67
$0.656
Note
$0.40
Diluted
$0.426
Anti – diluted
The process stops
here
Diluted
Bài 7 ( giữa kỳ KI3 - NTTH): Cấu trúc VCSH của Công ty A vào ngày 31/12/X8 như sau:
- Vốn góp cổ phần (12,000,000 cổ phiếu phổ thông): 120,000,000 CU.
- Trái phiếu chuyển đổi có lãi suất 3%/năm (240,000 TP): 2,400,000 CU.
Các thông tin khác:
(6) = (6) – (5)
a) Lợi nhuẠn sau thuế của Công ty A cho năm tài chính kết thúc ngày 31/12/X8 là 1,500,000 CU.
b) Trái phiếu chuyển đổi được công ty phát hành vào ngày 1/6/X6, được chuyển đổi sau 2 năm phát hành
với tỷ lỎ: mot trái phiếu chuyển đổi được 4 cổ phiếu phổ thông. Tỷ lỎ chuyển đổi cũng được điều chỉnh
khi Công ty phát hành cổ phiếu thường.
c) Ngày 1/5/X8 Công ty phát hành cổ phiếu thưởng với tỷ lỎ cứ 2 cổ phiếu thường được 1 cổ phiếu
thưởng.
d) Lãi trái phiếu chuyển đổi được trả định kỳ vào 31/12 hàng năm và không được miễn trừ thuế TNDN
(tức trừ vào lợi nhuẠn sau thuế).
e) Ngày 1/9/X8, 50% trái phiếu chuyển đổi được chuyển sang cổ phiếu phổ thông.
f) Lợi nhuẠn sau thuế của công ty cho năm tài chính kết thúc ngày 31/12/X7 là 900,000 CU.
Yêu cầu:
1. Tính lợi nhuẠn trên cổ phiếu căn bản (basic EPS) và pha loãng (diluted EPS) của Công ty A cho năm
X8.
2. Tính lợi nhuẠn trên cổ phiếu căn bản (basic EPS) và pha loãng (diluted EPS) của năm X7 trên BCTC
năm X7.
3. Tính lợi nhuẠn trên cổ phiếu căn bản (basic EPS) và pha loãng (diluted EPS) của năm X7 (dữ liỎu so
sánh cho BCTC năm X8).
l.
+ Basic EPQ:
* Tư số:
Lợi nhu¾n sau thuế trước lãi trái phiếu năm 20X8 = l,500,000 CU.
Qố lượng trái phiếu ngày l/l/20X8 là 240,000/50% = 480,000 (trái phiếu) → trị giá trái phiếu ngày
l/l/20X8 = 480,000 x l0 = 4,800,000 CU.
Trị giá cổ phiếu ngày l/9/20X8 : 4,800,000 x 50% = 2,400,000 CU
Lãi trái phiếu (từ ngày l/l/20X8 dến 3l/8/20X8): 4,800,000 x 3% x 8/l2 = 96,000 CU
Lãi trái phiếu (từ ngày l/9/20X8 dến 3l/l2/20X8): 2,400,000 x 3% x 4/l2 = 24,000 CU
Lợi nhu¾n phân bổ cho cổ dông: l,500,000 – 96,000 – 24,000 = l,380,000 CU
* Mấu số:
Qố lượng cổ phiếu thường phát hành dể chuyển dổi trái phiếu: 480,000 x 50% x 4 = 960,000 (cổ
phiếu)
Qố lượng cổ phiếu thường phát hành dể bố sung cổ phiếu thưởng: 960,000/2 = 480,000 (cổ phiếu)
→ Tổng cong cổ phiếu thường phát hành cho mục dích chuyển dổi = l,440,000 (cổ phiếu)
Qố lượng cổ phiếu ngày 3l/l2/20X8: l2,000,000 (cổ phiếu)
Qố lượng cổ phiếu phát hành ngày l/9/20X8: l,440,000 (cổ phiếu)
→ Qố lượng cổ phiếu ngày 3l/8/20X8 = l2,000,000 – l,440,000 = l0,560,000 (cổ phiếu)
Từ l/l/20X8 dến
3l/8/20X8
Từ l/9/20X8 dến
3l/l2/20X8
Tổng cong
No. Qhares
l0,560,000
Time – Weighted
8/l2
20X8
7,040,000
l2,000,000
4/l2
4,000,000
ll,040,000
Basic EPQ = l,380,000 / ll,040,000 = 0.l25 CU/cổ phiếu
+ Diluted EPQ:
* Tư số: Lợi nhu¾n sau thuế (bao gồm lãi suất trái phiếu): l,500,000 CU.
* Mấu số:
Qố lượng cổ phiếu thường dang lưu hành: l2,000,000 (cổ phiếu)
Qố lượng cổ phiếu thường phát hành vì mục dích chuyển dổi: l.440.000 (cổ phiếu)
→ Tổng cong l3.440.000 (cổ phiếu)
Diluted EPQ = l,500,000 / l3,440,000 = 0.ll2 CU/cổ phiếu
2.
+ Basic EPQ:
* Tư số:
Lợi nhu¾n sau thuế trước lãi trái phiếu: 900,000 CU
Lãi suất trái phiếu: 4,800,000 x 3% = l44,000 CU
→ Lợi nhu¾n sau lãi trái phiếu: 900,000 – l44,000 = 756,000 CU
* Mấu số:
Bonus factor: (l+2)/2 = l.5
Qố lượng cổ phiếu sau ngày l/5/20X8 (ngày phát hành cổ phiếu thưởng) dến ngày 3l/8/20X8:
l0,560,000 (cổ phiếu)
Qố lượng cổ phiếu từ ngày l/l/20X8 dến 30/4/20X8: l0,560,000 / l.5 = 7,040,000 (cổ phiếu)
Basic EPQ = 756,000 / 7,040,000 = 0.l07 CU/cổ phiếu
+ Diluted EPQ:
* Tư số: Lợi nhu¾n sau thuế trước lãi trái phiếu: 900,000 CU
* Mấu số:
Qố lượng cổ phiếu thường (3l/l2/20X7): 7,040,000 (cổ phiếu)
Qố lượng cổ phiếu thường phát hành vì mục dích chuyển dổi (năm 20x7): 480,000 x 4 = l,920,000 (cổ
phiếu).
→ Tổng cong: 8,960,000 (cổ phiếu)
Diluted EPQ = 900,000 / 8,960,000 = 0.l004 CU/cổ phiếu
3.
+ Basic EPQ: 0.l07/l.5 = 0.07l CU/cổ phiếu
+ Diluted EPQ: 0.l004/l.5 = 0.067 CU/ cổ phiếu
Bài 8 (LVNT): On 30/9/20x4, Atlantis corporation made a one for two rights issue at a subscription price
of $1.5 per share to existing shareholders. The market price immediately before the exercise of the rights
issue was $3.0. Atlantis paid up capital consisted of 10,000,000 shares as at 1/1/20x3. Net profit
attributable to OS of $2,500,000 for the year ended 31/12/20x4 and $2,400,000 for 31/12/20x3.
Calculating basic EPS.
Total new shares issued: l0,000,000 shares x l/2 = 5,000,000 shares
Total proceeds: 5,000,000 shares x $l,5/share = $7,500,000
The number of the share at full market price (số CP có thể mua dược với giá thị trường): $7,500,000 /
$3/share = 2,500,000 shares.
→ Bonus share: 5,000,000 shares – 2,500,000 shares = 2,500,000 shares.
Calculate Factor:
Method l:
Average price =
$ 1 / slhrb x 8=,===,=== slhrbs+ $ 8.2/ slhrb x 2,===,=== slhrbs
82,===,=== slhrbs
= $2.5/share
→ Factor = 3/2.5 = l.2 (l cổ phiếu trước khi phát hành thêm bang l.2 cổ phiếu sau khi phát hành
thêm)
Method 2:
Factor =
8=,===,=== slhrbs +2,===,=== slhrbs
8=,===,=== slhrbs +2,2==,=== slhrbs
Number
Net profit
attributable
to OQ
l/l/20x4 →
30/9/20x4
30/9/20x4 →
3l/l2/20x4
Total
= l.2
Time –
weighted
Factor
20x4
20x3 (restrospective)
$2,500,000
$2,400,000
l0,000,000
9/l2
l.2
9,000,000
l5,000,000
3/l2
l
3,750,000
l2,750,000
shares
$0.l96/share
Basic EPQ
($2,400,000/l0,000,000
) /l.2 = $0.2/share
Bài 9 – Contigenly issuable shares (LVNT): On 1/1/20x5, Alpha Company acquired Beta company, a
franchisor for a reputable brand of footwear. The consideration was payable entirely in cash. The terms of
the acquisition included a contingent share agreement that required Alpha to issue 10,000 additional new
shares to the shareholders (the venders) of Beta for each franchise contract secured in 20x5. One contract
was secured on 1/6/20x5, and another on 1/12/x5. Alpha’s share capital is comprised solely of 100,000
OS. There had been no issue for new OS during the year. Alpha interim financial statements were
prepared half yearly. Net profit attributable to OS: $138,000 (first half year); $250,000 (second half year);
$388,000 (full year)
Net profit
OQ outstanding
Contingently issuable
shares
Total shares
Basic EPQ
First half – year
$l38,000
l00,000
l0,000 x l/6 = l.667
l0l,667
$l.36
Qecond half – year
$250,000
l00,000
l0,000 x 6/6 (dầu kự) +
l0,000 x l/6 = ll.667
lll,667
$2.24
Full year
$388,000
l00,000
l0,000 x 7/l2 + l0,000
x l/l2 = 6.667
l06,667
$3.64