Question
Albatross Shipping had 100,000 shares of common stock outstanding on January 1.On August 31, Albatross issued an additional 30,000 common shares.Albatross had 10,000 shares of
Albatross Shipping had 100,000 shares of common stock outstanding on January 1.On August 31, Albatross issued an additional 30,000 common shares.Albatross had 10,000 shares of treasury stock that they held all year.The weighted average number of common shares outstanding for the year was _____________ .
A. 112,500
B. 130,000
C. 100,000
D. 110,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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 Started
Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
134128524, 978-0134128528
