Tomba Corporation had 300,000 ordinary shares outstanding on January 1, 2010. On May 1, Tomba issued 30,000

Question:

Tomba had 300,000 ordinary shares outstanding on January 1, 2010. On May 1, Tomba issued 30,000 ordinary shares.
(a) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued for cash.
(b) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued in a share dividend.

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...