On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding. On March 1, XYZ sold an additional 500,000 shares on the open market at P20 per share. XYZ issued a 20% share dividend on May 1. On August 1, XYZ purchased 280,000 shares and immediately retired the shares. On November 1, 400,000 shares were sold for P25 per share. What is the weighted-average number of shares outstanding for 2020?
On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding. On March 1, XYZ sold an additional 500,000 shares on the open market at P20 per share. XYZ issued a 20% share dividend on May 1. On August 1, XYZ purchased 280,000 shares and immediately retired the shares. On November 1, 400,000 shares were sold for P25 per share. What is the weighted-average number of shares outstanding for 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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![On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value
outstanding.
On March 1, XYZ sold an additional 500,000 shares on the open market at P20 per
share. XYZ issued a 20% share dividend on May 1.
On August 1, XYz purchased 280,000 shares and immediately retired the shares.
On November 1, 400,000 shares were sold for P25 per share.
What is the weighted-average number of shares outstanding for 2020?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a16d341-88db-4296-99c0-9c39ce24b0da%2Fd06c9086-e5fe-427a-be47-44978328fbae%2F0s7v5aq_processed.png&w=3840&q=75)
Transcribed Image Text:On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value
outstanding.
On March 1, XYZ sold an additional 500,000 shares on the open market at P20 per
share. XYZ issued a 20% share dividend on May 1.
On August 1, XYz purchased 280,000 shares and immediately retired the shares.
On November 1, 400,000 shares were sold for P25 per share.
What is the weighted-average number of shares outstanding for 2020?
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