FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BB Co. had 50,000 shares outstanding on January 1, 2023. On March 1, 2023, BB issued 30,000 shares. On October 1, 2023, BB Co. repurchased

BB Co. had 50,000 shares outstanding on January 1, 2023. On March 1, 2023, BB issued 30,000 shares. On October 1, 2023, BB Co. repurchased and cancelled 20,000 shares. BB Co. had net income of $300,000 in 2023. What is the company's weighted average number of shares outstanding on December 31, 2023 for the shares issued on January 1, 2023?

Step by Step Solution

★★★★★

3.56 Rating (146 Votes )

There are 3 Steps involved in it

Step: 1

Answer ChatGPT To calculate the weighted average number of shares outstanding we need to consi... 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

Step: 3

blur-text-image

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

Smith and Roberson Business Law

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Accounting questions

Question

★★★★★
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★
Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...

Answered: 1 week ago

Question

★★★★★
Let r and s be solutions to the quadratic equation x 2 b x + c = 0. For n N, define d0 = 0 d1 = r s dn = b dn1 c dn2 (n 2) Prove that dn = r n s n for all n N. [4 marks] (b) Recall that a commutative...

Answered: 1 week ago

Question

★★★★★
Mansfield Congregational Church (MCC) is a small organization in Connecticut with only seventeen employees. Though its funds are dwindling, the MCC wants to hire a full-time maintenance employee to...

Answered: 1 week ago

Question

★★★★★
The table that follows gives several points on the line Y1 = mx + b. Find m and b. Y1 4.8 3.6 4.9 4.8 5.0 5.1 5.2 5.3 6.0 7.2 8.4 9.6 10.8 5.4 Y1 = 10.8

Answered: 1 week ago

Question

★★★★★
Refer to the balance sheet of Google in Appendix A. Does it use the direct write-off method or allowance method in accounting for its accounts receivable? What is the realizable value of its...

Answered: 1 week ago

Question

★★★★★
=+Krazy Glue. They are often sold in small quantities, typically 2-oz. tubes. The manufacturers want to ensure that the same quantity of glue goes into each tube so they monitored the process from...

Answered: 1 week ago

Question

★★★★★
Olney Cleaning Company had the following items that require adjustment at year-end. a. For one cleaning contract, $14,000 cash was received in advance. The cash was credited to unearned revenue upon...

Answered: 1 week ago

Question

★★★★★
(Call this Problem A on your paper, so Ill know which one it is.) Suppose we have this code: (define (f x) (* x x)) i. What is this turned into internally when the Scheme interpreter reads this...

Answered: 1 week ago

Question

★★★★★
Wheelco Pty Ltd manufactures car and truck wheels. The company produces four basic, high-volume wheels used by manufactures of large cars and trucks. Wheelco also has two specialty wheel lines. These...

Answered: 1 week ago

Question

★★★★★
AB are two partners in a firm C is admitted for 1/3 shares of profit with a minimum guaranteed profit of Rs. 30,000 given by A and B in the ratio of 2:1. During 2013-14 the firm reported net profit...

Answered: 1 week ago

Question

★★★★★
One scientist is measuring a physical quantity on a strange unit. For example, the time taken by the light to travel from a star to the earth was measured in units "BRT". If this unit has to make...

Answered: 1 week ago

Question

★★★★★
What is the variance and standard deviation of of 46.38, 46.18, 46.57, 46.72, 46.86, 46.58, 46.61, 46.64, 46.03, 45.93, 45.51, 45.53

Answered: 1 week ago

Question

★★★★★
Money Inc., a USA-based business has an acid test ratio of 3 times, and the value of the current assets including closing inventories (comprising of trade receivables of $2,000,000 and cash of...

Answered: 1 week ago

Question

★★★★★
we look at how companies use CRM, SCM, and ERP to gain a competitive advantage and run more efficiently. Find an industry/business or company currently using one of those technologies (CRM, SCM,...

Answered: 1 week ago

Question

★★★★★
1. What are the practices that Xerox used in its TQM implementation? Discuss. 2. What are some barriers that you think Xerox has faced during TQM implementation? Relate them. 3. Does TQM...

Answered: 1 week ago

Question

★★★★★
we assume that a company is considering a new project. the projects life has 11 years. this project requires initial investment of $680 million to purchase equipment and $25 million for shipping and...

Answered: 1 week ago

Question

★★★★★
Define deferred revenue. Why is it a liability?

Answered: 1 week ago

Question

★★★★★
Explain when the rights of an intended beneficiary vest.

Answered: 1 week ago

Question

★★★★★
Alice was Peters traveling salesperson and was also authorized to collect accounts. Before the agreed termination of the agency, Peter wrongfully discharged Alice. Alice then called on Tom, an old...

Answered: 1 week ago

Question

★★★★★
Webster, Inc., dealt in automobile accessories at wholesale. Although he manufactured a few items in his own factory, among them windshield wipers, Webster purchased most of his inventory from a...

Answered: 1 week ago

Question

★★★★★
2.36. Crosson (1994, p. 168) described an analysis of published medical studies involving treatments for heart attacks. In the studies having randomization and strong controls for bias, the new...

Answered: 1 week ago

Question

★★★★★
A college professor never finishes his lecture before the end of the hour and always finishes his lectures within 2 min after the hour. Let the time that elapses between the end of the hour and the...

Answered: 1 week ago

Question

★★★★★
2.26. When the Yankclovich polling organization asked,6 "Should laws be passed to eliminate all possibilities of special interests giving huge sums of money to candidates?" 80% of the sample answered...

Answered: 1 week ago

Previous Question Next Question