Excellence Transportation Corporation (ETC) has authorized shares of 500,000 shares of which 50% were already issued and a treasury shares of 40,000 shares.
On March 1, 2022, the Board of Directors decided to give a 25% share dividend on its P10 par value ordinary shares.
The shares were issued on May 1, 2022. The market price was P16 per share on March 1, 2022, and on the date the shares were distributed the stock was selling for P12.50 per share and at the date of record, the price was P13.00. How many shares were outstanding on and after May 1, 2022?

Answer rating: 100% (QA)

Lets call the number of issued shares Issued Issued 500000 x 50 250000 shar... View the full answer