Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Culver Group had 324,000 ordinary shares outstanding on January 1, 2022. On May 1, Culver issued 29,700 ordinary shares. (a) Compute

image text in transcribed

image text in transcribed

Current Attempt in Progress Culver Group had 324,000 ordinary shares outstanding on January 1, 2022. On May 1, Culver issued 29,700 ordinary shares. (a) Compute the weighted-average ordinary shares outstanding if the 29,700 shares were issued for cash. Weighted-average ordinary shares outstanding (b) Compute the weighted-average ordinary shares outstanding if the 29,700 shares were issued in a share dividend. Assume that shares issued in the share dividend are outstanding from the beginning of the year. Weighted-average ordinary shares outstanding Swifty Ltd. reported net income of 404,670 in 2022 and had 184,000 ordinary shares outstanding throughout the year. Also outstanding all year were 43,500 options to purchase ordinary shares at 12 per share. The average market price of the shares during the year was 15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share

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

Management Accounting And Strategic Human Resource Management

Authors: John Innes, Reza Kouhy

1st Edition

1859714862, 978-1859714867

More Books

Students also viewed these Accounting questions

Question

recognise typical interviewer errors and explain how to avoid them

Answered: 1 week ago

Question

identify and evaluate a range of recruitment and selection methods

Answered: 1 week ago

Question

understand the role of competencies and a competency framework

Answered: 1 week ago