Question
On January 1, 2016, Albacore Company had 310,000 shares of its common stock issued and outstanding. Albacore issued a 11% stock dividend on July 1,
On January 1, 2016, Albacore Company had 310,000 shares of its common stock issued and outstanding. Albacore issued a 11% stock dividend on July 1, 2016. On October 1, 2016, Albacore retired 11,000 of its common shares. When calculating basic earnings per share for 2016, what is the appropriate number of shares for Albacore to use in the denominator of the EPS fraction?
341,350.
322,210.
344,100.
346,850.
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
Auditing Essentials Quick Access To The Important Facts And Concepts Complete Overview Simply Presented Easy To Grasp
Authors: Frank C. Giove, Accounting Study Guides
1st Edition
0878918795, 978-0878918799
