Elfyd Plc had £1,000,000 50p shares in issue on 1 January 2016. On 1 April 2016,...
Elfyd Plc had £1,000,000 50p shares in issue on 1 January 2016. On 1 April 2016,
Elfyd issued 500,000 shares at their market value of £1.50 each. On 1 August 2016 Elfyd made a bonus issue of 1 share for every 5 in issue.
Calculate the weighted average number of shares to use in Elfyd’s Basic Earnings Per Share calculation for the year ended 31 December 2016?
A 3,750,000
B 3,812,500
C 2,187,500
D 6,625,000
Homework Answers
Solution:
|
Computation of weighted average outstanding shares For year ended 2016 |
|||
| Particulars | Outstanding shares | Period Outstanding | Weighted average Nos of shares |
| Beginning balance | 2000000 | 12 | 2000000 |
| Additional stock issued on 01.04.2016 | 500000 | 9 | 375000 |
| Total | 2500000 | 2375000 | |
| Bonus issue | 20% | 20% | |
| Weighted average outstanding shares for year ended Dec 31, 2016 (2375000*120%) | 3000000 | 2850000 | |
Note: Answer given in options are not correct
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Elfyd Plc had £1,000,000 50p shares in issue on 1 January 2016.
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