On January 1, the company had 150,000 common shares outstanding. During the year, the following events occurred:
Question:
On January 1, the company had 150,000 common shares outstanding. During the year, the following events occurred:
March 1: 2-for-1 stock split
June 1: Issued 45,000 additional shares
September 1: 20% stock dividend
What was the weighted-average number of shares outstanding for the year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Fraction of Shares Adjustment WeightedAverage Peri...View the full answer
Answered By
Shivani Dubey
Hello guys, I am very good with the Advance mathematics, Calculus, Number theory, Algebra, Linear algebra, statistics and almost all topics of mathematics. I used to give individual tutoring students in offline mode but now want to help students worldwide so I am joining here. I can also give solutions in various coding languages of mathematics and software like mathematica, R, Latex, Matlab, Statistica, etc.
feel free to ask any doubt regarding mathematics
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Question Posted:
Students also viewed these Accounting questions
-
Weighted Average Number of Shares Itsy-Bitsy Companys common stock was trading wildly in 2019, with the company frequently issuing new shares, among other transactions. These were the 2019 common...
-
On January 1 the West Company had outstanding 10,000 shares of $10 par common stock , which had been originally issued at an average price of $35 per share. During the year the company engaged in the...
-
On January 1 the previous balance for Lynn's charge account was $569.80. On the following days, purchases were posted: On January 16 a $50 payment was posted. Using the average daily balance method,...
-
Some will argue that KPMG inappropriately subordinated its judgments to Xerox preferences. How could accounting firms ensure that auditors do not subordinate their judgments to client preferences on...
-
Jeremy Shepherd is the founder and president of nearlParadise.com. in Los Angeles. California. His jewelry business recognizes the importance of ensuring that customers keen coming back. However,...
-
Rene Kelly, president of RL Industries, wishes to issue a press release to bolster her company's image and maybe even its stock price, which has been gradually falling. As controller, you have been...
-
48 Use divisibility rules to determine if each of the following is divisible by 9 .
-
Paul Jordan has just been hired as a management analyst at Digital Cell Phone, Inc. Digital Cell manufacturers a broad line of phones for the consumer market. Pauls boss, John Smithers, chief...
-
PLEASE DOUBLE-CHECK THE ANSWERS BEFORE SENDING THEM TO ME THANK YOU. You can form a portfolio of two assets, A and B, whose returns have the following characteristics: Stock Standard Deviation Beta...
-
An experiment was conducted to test the efficacy of chloromycetin in checking typhoid. In a certain hospital chloromycetin was given to 285 out of the 392 patients suffering from typhoid. The number...
-
On January 1, the company had 100,000 common shares outstanding. On April 1, the company issued 30,000 additional shares. On August 1, the company reacquired 50,000 shares. What was the...
-
On January 1, the company had 100,000 common shares outstanding. This same number of common shares was outstanding throughout the year. The company also had 30,000 shares of 5%, $100 par preferred...
-
Why should a direct claim be made by letter rather than by e-mail or a telephone call?
-
In many cases the objectives of management and the computer specialist vary. Explain.
-
What are the different ways a deposition summary may be prepared?
-
How should insignificant deficiencies be reported?
-
What are four aspects of computer operations that the internal auditor might be able to review without extensive knowledge of computers?
-
Discuss two functions of the audit report.
-
(a) What are the median heat values for both batches? (b) What are the minimum and maximum heats for the premium batch (exclude the outliers)? (c) What are the minimum and maximum temperatures for...
-
How has the globalization of firms affected the diversity of their employees? Why has increased diversity put an additional burden on accounting systems?
-
Why is the presence of organic matter not always an indication of the presence of life?
-
(Two Differences, No Beginning Deferred Taxes, Tracked through 2 Years) The following information is available for McKee Corporation for 2010. 1. Excess of tax depreciation over book depreciation ,...
-
(One Temporary Difference, Future Taxable Amounts, One Rate, Beginning Deferred Taxes) Brennan Corporation began 2010 with a $90,000 balance in the Deferred Tax Liability account. At the end of 2010,...
-
(Three Differences, Compute Taxable Income, Entry for Taxes) Havaci Company reports pretax financial income of $80,000 for 2010. The following items cause taxable income to be different than pretax...
-
Swifty Journeys Music School provides private music lessons for elementary students. Its operating costs are as follows: Rent on facilities $2,000 per month Advertising $845 per month Instrument Rent...
-
Sandstorm Manufacturing Inc. makes two types of industrial component parts-the LE100 and the UL600. It annually produces 65,000 units of LE100 and 13,000 units of UL600.The company's conventional...
-
Sunland Toys' management is considering eliminating product A, which has been showing a loss for several years. The company's annual income statement, is as follows: A B C Total Sales $2,289,000...
Study smarter with the SolutionInn App