Question
On January 1, 2010, Chang Corp. had 480,000 shares of common stock outstanding. During 2010, it had the following transactions that affected the common stock
On January 1, 2010, Chang Corp. had 480,000 shares of common stock outstanding. During 2010, it had the following transactions that affected the common stock account.
February 1 | Issued 120,000 shares | |
March 1 | Issued a 20% stock dividend | |
May 1 | Acquired 100,000 shares of treasury stock | |
June 1 | Issued a 3-for-1 stock split | |
October 1 | Reissued 60,000 shares of treasury stock |
(a) Determine the weighted average number of shares outstanding as of December 31, 2010.
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