Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show in excel :)) Intermediate Accounting II Chapter 18 Test Problem 1: (20 points) weighted Average Number of Shares Transactions involving the common stock

image text in transcribedimage text in transcribed

Please show in excel :))

Intermediate Accounting II Chapter 18 Test Problem 1: (20 points) weighted Average Number of Shares Transactions involving the common stock account of Big Company during the two-year period 2015 to 2016 were as follows: 2015 Jan. 1 Had a balance of 250,000 shares of $2 par common stock. Mar. 1 Converted S2,000,000 of convertible bonds with 50 shares issued for each si,000 bond. Aug. Declared a 10% stock dividend. Oct. i Employees exercised options to purchase 7,000 shares for S20 a share. 2016 Feb. 1 Declared a two-for-one stock split Oct. 1 Sold 170.000 shares for $30 a share. From the information given, compute the comparative number of weighted-average shares outstanding for 2015 and 2016 to be used for basic EPS computations at the end of 2016. Set up a schedule similar to the one in Exercise 23 in your textbook so you can show your work

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

Life Audit Workbook Meant For More

Authors: Agnese Iskrova

1st Edition

1716274958, 978-1716274954

More Books

Students also viewed these Accounting questions