Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kolanso Inc. had 8 9 0 , 4 0 0 common shares outstanding on 1 January 2 0 X 8 . On 1 June, the

Kolanso Inc. had 890,400 common shares outstanding on 1 January 20X8. On 1 June, the company entered into an agreement to purchase the shares of Leroy Co. As part of this acquisition transaction, Kolanso agreed to issue 134,000 new common shares to the previous shareholders of Leroy if the company had total sales of $8.0 million for the first year. The goal was met by 31 December 20X8 and the shares were issued on 1 February 20X9. Also during the year, the company repurchased 38,500 shares on 1 December.
Required:
Calculate the companys weighted average number of shares outstanding for the basic EPS calculation for the year ended 31 December 20X8.(Do not round intermediate calculations and round your answer to nearest whole number.)

Step by Step Solution

3.46 Rating (146 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the weighted average number of shares outstanding for the basic EPS calculation we need ... 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

Document Format ( 2 attachments)

PDF file Icon
663e8cdeea840_954744.pdf

180 KBs PDF File

Word file Icon
663e8cdeea840_954744.docx

120 KBs Word File

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

Intermediate Accounting Volume 2

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

8th Edition

1260881245, 9781260881240

More Books

Students also viewed these Accounting questions

Question

Which edition of Windows 7 should you deploy to the computers? LO.1

Answered: 1 week ago