Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Beuno Ltd has 3 000 000 ordinary shares on issue at the beginning of the year, 1 July 2014. These shares were issued at $2.00

Beuno Ltd has 3 000 000 ordinary shares on issue at the beginning of the year, 1 July 2014. These shares were issued at $2.00 each and at the end of the period have a current market value of $4.50. On 1 August 2014, Beuno Ltd bought back 600 000 ordinary shares originally issued at $2.50 for $3.00 each. On 1 November 2014, 500 000 shares were issued fully paid up at the current market value of these shares. On 1 March 2015, 200 000 partly paid-up ordinary shares were issued at an issue price of $3.50. These shares were partly paid to $2.00. The partly paid shares are permitted proportionate rights to vote and receive dividends based on the relationship between the amount paid up and the issue price. What is the weighted-average number of shares calculated in accordance with AASB 133?  

 Benjy Ltd has 8 000 000 ordinary shares on issue at the beginning of the year, 1 July 2015. These shares were issued at $1.00 each and have a current market value at the end of the period of $5.20. On 1 September 2015, Benjy Ltd bought back 1 000 000 ordinary shares originally issued at $1.50 for $4.00 each. On 1 February 2016, 2 000 000 shares were issued at the current market value of these shares. On 1 March 2016, 900 000 partly paid-up ordinary shares were issued at an issue price of $5.00. These shares were partly paid to $4.00. Shares are not granted proportionate rights to receive dividends. This right attaches only when the shares are fully paid. The shares, however, do provide a proportionate right to vote at annual general meetings. What is the weighted-average number of shares calculated in accordance with AASB 133?   

  

 

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Reporting a practical guide

Authors: Alan Melville

8th Edition

1292439424, 978-1292439426

More Books

Students also viewed these Accounting questions