Question
Mary owns 5000 shares in a mutual fund. This fund began the year with a NAV of GHs 10.25 per share. At the end of
Mary owns 5000 shares in a mutual fund. This fund began the year with a NAV of GHs 10.25 per share. At the end of the year, the fund distributed income amounting to GHs 0.75 per share and capital gains amounting to Ghs 1.25 per share. Information available indicates that before the distribution of income and the capital gains, the NAV of the fund amounted to Ghs 14.50. If MAry wanted her distribution of income and capital reinvested in more shares of the fund, calculate how many shares Mary will have after the redistribution.
Step by Step Solution
3.42 Rating (155 Votes )
There are 3 Steps involved in it
Step: 1
Mary Owns 5000 Shares NAV at the time of Investment is GHS 1025 Total Inve...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App