Douglas Corporation had 120,000 ordinary shares outstanding on January 1, 2010. On May 1, 2010, Douglas issued

Question:

Douglas had 120,000 ordinary shares outstanding on January 1, 2010. On May 1, 2010, Douglas issued 60,000 ordinary shares. On July 1, Douglas purchased 10,000 treasury shares, which were reissued on October 1. Compute Douglas’s weighted average number of ordinary shares outstanding for 2010.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...