Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the following changes in its ordinary outstanding shares:During 2 0 2 3 , Dandy Company has table [ [ Dates , Shares changes,Number of

image text in transcribed
the following changes in its ordinary outstanding shares:During 2023, Dandy Company has
\table[[Dates,Shares changes,Number of shares],[1-Jan,Beginning balance,960,000],[1-Mar,Issued,240,000],[1-Jun,Acquisition of share for treasury,120,000],[1-Aug,share split 1to4,],[1-Oct,shares issued for cash,800,000],[Nov.1,Sold treasury shares,120,000],[1-Dec,share dividend 25%,],[1-Dec,After dividend issued,300,000]]
The following information was available in 31/12/2023:
1-The company disclosed net income in 31/12/2023 was 400,000 $ after 20% income tax.
2- Dividend for preference shares was 120,000$
3- The adjusted to net income from convertible bonds before tax was 52,000S.
4- Total effect on the weighted shares average from diluted events was increase 150,000 shares.
Required:
1- Calculate the weighted average number of ordinary share.
2. Calculate basic and diluted E PS in 31/12/2023
image text in transcribed

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

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

10th edition

978-1337276337, 1337276332, 978-1337517546, 1337517542, 978-1337491471

More Books

Students also viewed these Accounting questions