Question
On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2021: March 1: Reacquired 2,300 shares, accounted
On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2021:
| March | 1: | Reacquired 2,300 shares, accounted for as treasury stock. | ||
| September | 30: | Sold all the treasury shares. | ||
| December | 1: | Sold 11,300 new shares for cash. | ||
| December | 31: | Reported a net income of $290,750. |
Required: Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2021.
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ISE Managerial Accounting Creating Value In A Dynamic Business Environment
Authors: Ronald Hilton, David Platt
12th Edition
1260566390, 9781260566390
