Question
Pharoah Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,880,000 shares of $12 par common stock. At no time
Pharoah Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,880,000 shares of $12 par common stock. At no time has Pharoah issued any potentially dilutive securities. Listed below is a summary of Pharoahs common stock activities.
1. Number of common shares issued and outstanding at December 31, 2018 2,090,000
2. Shares issued as a result of a 12% stock dividend on September 30, 2019 250,800
3. Shares issued for cash on March 31, 2020 2,170,000 Number of common shares issued and outstanding at December 31, 2020 4,510,800
4. A 2-for-1 stock split of Pharoahs common stock took place on March 31, 2021
Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. ______shares
Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement. _______shares
Compute the weighted-average number of common shares to be used in computing earnings per common share for 2020 on the 2021 comparative income statement. ______shares
Compute the weighted-average number of common shares to be used in computing earnings per common share for 2021 on the 2021 comparative income statement. ________shares
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