Question
On December 31, 2015, Beta Company had 320,000 shares of common stock issued and outstanding. Beta issued a 5% stock dividend on June 30, 2016.
On December 31, 2015, Beta Company had 320,000 shares of common stock issued and outstanding. Beta issued a 5% stock dividend on June 30, 2016. On September 30, 2016, 32,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2016?
A. 369,600
B. 336,000
C. 344,000
D. 328,000
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
Current Issues In Auditing
Authors: Michael J Sherer, W Stuart Turley
3rd Edition
1853963658, 978-1853963650
