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When not to use bonus fraction to calculate eps

Forums › CIMA Forums › When not to use bonus fraction to calculate eps

  • This topic has 1 reply, 1 voice, and was last updated 6 years ago by ambitious1409.
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  • January 27, 2017 at 2:29 pm #369949
    ambitious1409
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi ,
    I was solving a question from the Kaplan F2 text on pg 135. The relevant part of the question was as follows-
    On 1st January 20×9 a listed entity had 3000000 ordinary shares in issue. On 1st May 20×9 it made a bonus issue of 1 for 3. On 1st Sep 20×9 it issued 2000000 shares for 3.2 each. Profit before tax for the yr was 1040000 and tax expense was 270000.

    In my solution I have used the bonus fraction of 3/7 to calculate weighted avg no. of shares. But the solution at the back has taken all of the 1000000 bonus shares issued to calculate it, and hence my answer is different from the solution.
    My question is – Why have they not used the bonus fraction?

    January 27, 2017 at 3:30 pm #369958
    ambitious1409
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Just realised it’s the same answer using bonus fraction of 4/3 *3000000= 4000000. My bad. Sorry about that!
    Thanks

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