ARIES Inc. had the following transactions in the ordinary shares of May Corporation: anuary 5 Bought 4,000 ordinary shares, P100 par, at P88. une 15 Received 10% bonus issue. August 31 Received P4 cash dividend for each ordianry shares. October 10 Received stock rights to buy one new share at P100 for every 5 shares held. Market value of stock ex-right, P156. November 15 Sold all stock rights at P4 per right. What is the revised cost per share after reciept of the bonus issue? A) Р85 в) Р80 P75 D) P90

ARIES Inc. had the following transactions in the ordinary shares of May Corporation: anuary 5 Bought 4,000 ordinary shares, P100 par, at P88. une 15 Received 10% bonus issue. August 31 Received P4 cash dividend for each ordianry shares. October 10 Received stock rights to buy one new share at P100 for every 5 shares held. Market value of stock ex-right, P156. November 15 Sold all stock rights at P4 per right. What is the revised cost per share after reciept of the bonus issue? A) Р85 в) Р80 P75 D) P90

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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