Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2020, Wildhorse Manufacturers had 360,000 common shares outstanding. On April 1, the corporation issued 36,000 new common shares to raise additional capital.

On January 1, 2020, Wildhorse Manufacturers had 360,000 common shares outstanding. On April 1, the corporation issued 36,000 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 10,800 of its own outstanding common shares to make them available for issuances related to its key executives outstanding stock options.

Calculate the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,255.)

Weighted average number of shares outstanding Enter your answer in accordance to the question statement shares

eTextbook and Media

Incorrect answer icon

Your answer is incorrect.

Assume that Wildhorse Manufacturers had a 1-for-10 reverse stock split instead of a 10% stock dividend on July 1, 2020. Calculate the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,255.)

Weighted average number of shares outstanding Enter your answer in accordance to the question statement shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

The Practitioners Blueprint To Construction Auditing

Authors: Ron Risner

1st Edition

0894137263, 978-0894137266

More Books

Students also viewed these Accounting questions