Question
A local boat manufacturing company, Pile of Ship, had the following fact pattern for its common shares: Jan 1: 100,000 shares outstanding Mar
A local boat manufacturing company, Pile of Ship, had the following fact pattern for its common shares:
Jan 1: 100,000 shares outstanding
Mar 1: Issued 20,000 shares
June 1: 50% stock dividend (60,000 shares issued)
Nov 1: Issued 30,000 shares
Dec 31: Ending Balance = 210,000 shares outstanding
The Company has a December 31 year-end.
Determine the weighted average of shares outstanding
Step by Step Solution
3.43 Rating (156 Votes )
There are 3 Steps involved in it
Step: 1
To determine the weighted average of shares outstanding you need to calculate the weighted average b...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Intermediate Accounting Volume 2
Authors: Kin Lo, George Fisher
4th Edition
0135220491, 9780135220498
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App