6 ABC Company was incorporated on January 1,2021. The following are the ordinary sharetransactions during the year:Jan. 1 number of shares authorizedFeb. 2 number of shares issued80,00060,000June 15,000Dec 1number of shares reacquired but not retired2 for 1 share splitWhat is the number of ABC Corp's ordinary share outstanding at December 31, 2020?150,000110,000120,000O 115,000

Formula: Shares split = Old shares x Split ratio

ABC Company was incorporated on January 1,2021. The following are the ordinary share transactions during the year: Jan. 1 number of shares authorized 80,000 Feb. 2 number of shares issued 60,000 June 1 number of shares reacquired but not retired 2 for 1 share split 5,000 Dec 1

ABC Company was incorporated on January 1,2021. The following are the ordinary share transactions during the year: Jan. 1 number of shares authorized 80,000 Feb. 2 number of shares issued 60,000 June 1 number of shares reacquired but not retired 2 for 1 share split 5,000 Dec 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

ABC Company was incorporated on January 1,2021. The following are the ordinary share
transactions during the year:
Jan. 1 number of shares authorized
Feb. 2 number of shares issued
80,000
60,000
June 1
5,000
Dec 1
number of shares reacquired but not retired
2 for 1 share split
What is the number of ABC Corp's ordinary share outstanding at December 31, 2020?
150,000
110,000
120,000
O 115,000

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