a. 344,444b. 477,777c. 750,000d. 1,020,000e. answer not given On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par valueoutstanding.On March 1, XYZ sold an additional 500,000 shares on the open market at P20 pershare. 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?

Solution: Option (c). 750,000 is the answer. Earnings per share = (Net income - preferred…

Answered: On January 1, 2020, XYZ Corporation had…

Business

Accounting

On January 1, 2020, XYZ Corporation had 250,000 ordinary shares of P2 par value outstanding.

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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Question

a. 344,444

b. 477,777

c. 750,000

d. 1,020,000

e. answer not given

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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