Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 4 [7 marks] As at 1 July 2018, Justice Ltd had 7 800 000 fully paid-up ordinary shares on issue. During the year the

image text in transcribed

Question 4 [7 marks] As at 1 July 2018, Justice Ltd had 7 800 000 fully paid-up ordinary shares on issue. During the year the company: bought back 2 600 000 fully paid ordinary shares on 1 December 2018 at prevailing market price issued 1 900 000 partly paid ordinary shares on 1 March 2019 at an issue price of $5.00. The shares were partly paid to $2.00. The partly paid shares carry the right to participate in dividends in proportion to the amount paid as a fraction of the issue price. . For the entire year, Justice Ltd had 500 000 $2.00 cumulative preference shares, disclosed as equity, which provide dividends at a rate of 15% per year. What is the WANOS on which basic earnings per share will be calculated for the year ending 30 June 2019? Show all workings

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

Students also viewed these Accounting questions