Homework Help is Here – Start Your Trial Now!
Business
Finance
ABC Ltd is an Australian listed company. Its results for the financial year ending 30 June 2019 have exceeded expectations—profit before tax is $5.597 million and income tax expense is $1.847 million. As at 30 June 2018, there were 9.75 million ordinary shares on issue. On 11 May 2019, 3.25 million further ordinary shares were issued at a price of $2.30—paid to $2.00. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price. Required:   Calculate the weighted number of shares outstanding at the end of the year Calculation of Adjusted net income Calculation of basic EPS for ABC Ltd for the year ending 30 June 2019

ABC Ltd is an Australian listed company. Its results for the financial year ending 30 June 2019 have exceeded expectations—profit before tax is $5.597 million and income tax expense is $1.847 million. As at 30 June 2018, there were 9.75 million ordinary shares on issue. On 11 May 2019, 3.25 million further ordinary shares were issued at a price of $2.30—paid to $2.00. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price. Required:   Calculate the weighted number of shares outstanding at the end of the year Calculation of Adjusted net income Calculation of basic EPS for ABC Ltd for the year ending 30 June 2019

Intermediate Accounting: Reporting And Analysis
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 16E: Jumbo Corporation reported the following information about its stock on its December 31, 2018,...
See similar textbooks
icon
Related questions
Question

ABC Ltd is an Australian listed company. Its results for the financial year ending 30 June 2019 have exceeded expectations—profit before tax is $5.597 million and income tax expense is $1.847 million. As at 30 June 2018, there were 9.75 million ordinary shares on issue. On 11 May 2019, 3.25 million further ordinary shares were issued at a price of $2.30—paid to $2.00. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price.

Required:

 

  1. Calculate the weighted number of shares outstanding at the end of the year
  2. Calculation of Adjusted net income
  3. Calculation of basic EPS for ABC Ltd for the year ending 30 June 2019
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Consolidations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS