The shareholders' equity section of the 30 June 2020 balance sheet for Charbel Constructions is as follows: Preference shares (100 000) $200 000 Ordinary shares (350 000) $1 050 000 Reserves $160 000 Retained earnings $450 700 Total shareholders' equity $1 860 700 On 1 July 2020 the company declared a 20% share dividend, payable to ordinary shareholders on 15 July 2020. On 1 July the share price was $1.50 per ordinary share and on 15 July the market price was $2 per ordinary share. On 1 August, Charbel issued 50 000 ordinary shares for $2 per share. On 1 September Charbel bought back $200 000 of ordinary shares, priced at $2.50 each. On 1 November 2020 the company declared a 90c per share cash dividend, payable on 25 November 2020. On 1 December 2020, how many ordinary shares does Charbel have outstanding?
The shareholders' equity section of the 30 June 2020 balance sheet for Charbel Constructions is as follows: Preference shares (100 000) $200 000 Ordinary shares (350 000) $1 050 000 Reserves $160 000 Retained earnings $450 700 Total shareholders' equity $1 860 700 On 1 July 2020 the company declared a 20% share dividend, payable to ordinary shareholders on 15 July 2020. On 1 July the share price was $1.50 per ordinary share and on 15 July the market price was $2 per ordinary share. On 1 August, Charbel issued 50 000 ordinary shares for $2 per share. On 1 September Charbel bought back $200 000 of ordinary shares, priced at $2.50 each. On 1 November 2020 the company declared a 90c per share cash dividend, payable on 25 November 2020. On 1 December 2020, how many ordinary shares does Charbel have outstanding?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The shareholders' equity section of the 30 June 2020 balance sheet for Charbel Constructions is as follows:
| $200 000 | |
| Ordinary shares (350 000) | $1 050 000 |
| Reserves | $160 000 |
| $450 700 | |
| Total shareholders' equity | $1 860 700 |
On 1 July 2020 the company declared a 20% share dividend, payable to ordinary shareholders on 15 July 2020. On 1 July the share price was $1.50 per ordinary share and on 15 July the market price was $2 per ordinary share.
On 1 August, Charbel issued 50 000 ordinary shares for $2 per share.
On 1 September Charbel bought back $200 000 of ordinary shares, priced at $2.50 each.
On 1 November 2020 the company declared a 90c per share cash dividend, payable on 25 November 2020.
On 1 December 2020, how many ordinary shares does Charbel have outstanding?
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