Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Patriots Corp. provides the following data in the changes of common shares for the fiscal year ending December 31, 2020: Jan 1 - Beginning weight

Patriots Corp. provides the following data in the changes of common shares for the fiscal year ending December 31, 2020:

Jan 1 - Beginning weight average shares carried forward from 2019 was 1,000,000

Mar 1 - Re-purchased and cancelled 60,000 shares

Jun 1 - Shares split 2 for 1

Nov 1 - Issued 120,000 of new shares

Instructions

State the weighted average common shares outstanding as of December 31, 2020.Show all detailed calculations in proper tabulation format.

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

Advanced Financial Accounting

Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay

7th edition

132928930, 978-0132928939

More Books

Students also viewed these Accounting questions