Tomba Corporation had 300,000 ordinary shares outstanding on January 1, 2015. On May 1, Tomba issued 30,000

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Tomba Corporation had 300,000 ordinary shares outstanding on January 1, 2015. On May 1, Tomba issued 30,000 ordinary shares.

(a) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued for cash.

(b) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued in a share dividend.

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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Mar 23, 2024 08:01 AM

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Tomba Corporation had 300,000 ordinary shares outstanding on January 1, 2015. On May 1, Tomba issued 30,000

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To compute the weightedaverage number of shares outstanding for Tomba Corporation in two different scenarios calculate the weighted average based on t...View the full answer

Intermediate Accounting IFRS Edition

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