Question
Treasure Inc. (TI) had 70,000 shares outstanding on January 1, 2020. Transactions throughout 2020 affecting its shareholdings follow. March 1: TI issued 40,000 shares. April
Treasure Inc. (TI) had 70,000 shares outstanding on January 1, 2020. Transactions throughout 2020 affecting its shareholdings follow.
March 1: TI issued 40,000 shares.
April l: TI declared and issued an 8% stock dividend on shares.
July 1: TI repurchased and canceled 30,000 shares.
October 1: TI declared and issued a 3-for-l stock split on the shares.
December 31: TI declared $99,600 in dividends on the shares.
Net income for the year ended December 31, 2020, was $600,000. Its tax rate was 40%.
Required:
a. What was the weighted average number of shares outstanding in 2020?
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The Employee Motivation Audit
Authors: Jane Weightman
1st Edition
0955970709, 978-0955970702
