Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 1 January 2018, a company's issued share capital consisted of 80,000 ordinary shares RO 1 each. On 1 july 2018, the company issued 50,000

image text in transcribed

On 1 January 2018, a company's issued share capital consisted of 80,000 ordinary shares RO 1 each. On 1 july 2018, the company issued 50,000 ordinary shares. On 1 August 2018, the company bought back 30,000 ordinary shares. Both the share issue and the buy-back were made at full market price. Calculate the weighted average number of ordinary shares outstanding in the year 31 December 2018. A. 95,000 shares B. 100,000 shares O C. 92,500 shares D. None of the other option

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_2

Step: 3

blur-text-image_3

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

Auditing A Risk Based Approach to Conducting a Quality Audit

Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg

10th edition

1305080572, 978-1305465664, 1305465660, 978-1305080577

More Books

Students also viewed these Accounting questions

Question

1. We tend to like people who are similar to us. True or false?

Answered: 1 week ago