On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired: · January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders · November 1 – a 5-for-2 share split has taken place. On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively? a. 700,000 ; 500,000 b. 575,000 ; 650,000 c. 112,000 ; 104,000 d. 700,000 ; 650,000
On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired: · January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders · November 1 – a 5-for-2 share split has taken place. On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively? a. 700,000 ; 500,000 b. 575,000 ; 650,000 c. 112,000 ; 104,000 d. 700,000 ; 650,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired:
· January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders
· November 1 – a 5-for-2 share split has taken place.
On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively?
· January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders
· November 1 – a 5-for-2 share split has taken place.
On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively?
a. 700,000 ; 500,000
b. 575,000 ; 650,000
c. 112,000 ; 104,000
d. 700,000 ; 650,000
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