Solution-What was weighted average number of ordinary shares

What was weighted average number of ordinary shares

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Reference no: EM132811907

Traditional Bathrooms Inc. (TBI) had 80,000 ordinary shares outstanding on January 1, 2020. Transactions throughout 2020 affecting its shareholdings follow.

February 1: TBI issued 200,000, $10, cumulative 10% preferred shares.
March 1: TBI issued 40,000 ordinary shares.
April l: TBI declared and issued an 8% stock dividend on the ordinary shares.
July 1: TBI repurchased and cancelled 30,000 ordinary shares.
October 1: TBI declared and issued a 3-for-l stock split on the ordinary shares.
December 31: TBI declared $99,600 in dividends on the ordinary shares.
Net income for the year ended December 31, 2020 was $600,000. Its tax rate was 40%.

Required:

Problem 1: What was weighted average number of ordinary shares outstanding in 2020?

Reference no: EM132811907

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What was weighted average number of ordinary shares

Reference no: EM132811907

Reference no: EM132811907

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