Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2023, Oriole Ltd. had 600,000 common shares outstanding. During 2023, it had the following transactions that affected the common share account: Feb.

image text in transcribed On January 1, 2023, Oriole Ltd. had 600,000 common shares outstanding. During 2023, it had the following transactions that affected the common share account: Feb. 1 Issued 180,000 shares Mar. 1 Issued a 10\% stock dividend May 1 Acquired 207,000 common shares and retired them June 1 Issued a 2-for-1 stock split Oct. 1 Issued 70,000 shares The company's year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2023. (Round answer to 0 decimal places, e.g. 5,275.) Weighted average number of shares outstanding shares eTextbook and Media Assume that Oriole earned net income of $1,994,300 during 2023. In addition, it had 80,000 of 11%,$100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2023. Calculate earnings per share for 2023, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) 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 For Business Decisions

Authors: Colin Drury

2nd Edition

1861527705, 978-1861527707

More Books

Students also viewed these Accounting questions