Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the weighted average number of shares outstanding for computing the current earnings per share. Weighted Average Shares At the beginning of 2019, Hardin Company

Determine the weighted average number of shares outstanding for computing the current earnings per share.
image text in transcribed
Weighted Average Shares At the beginning of 2019, Hardin Company had 390,000 shares of $10 par common stock outstanding. During the other its common stock: March 1 Issued 46,000 shares of stock at $22 per share June 1 Issued a 15% stock dividend. July 1 issued 11,000 shares of stock at $27 per share Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the per value to $5 per share Oct. 31 Reacquired 86,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 45,000 treasury shares at a price of 833 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current eamings per share. Round your interim computations and final awww.. for the number of shares to nearest whole number. shares 2. Determine the number of common shares outstanding at December 31, 2019 shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Susan V. Crosson, Belverd E. Needles

8th Edition

9780618777174, 618777180, 618777172, 978-0618777181

More Books

Students also viewed these Accounting questions