Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vaughn Corporation began its latest fiscal year on January 1,2023 , with 530,000 common shares outstanding. During the year, the following events occurred: - On

image text in transcribed

Vaughn Corporation began its latest fiscal year on January 1,2023 , with 530,000 common shares outstanding. During the year, the following events occurred: - On February 1, Vaughn sold 13,800 additional common shares. - The company declared and issued a 25% stock dividend on March 1. - On June 1, Vaughn repurchased and cancelled 3,450 common shares. - An additional 4,700 common shares were issued on July 1. - On September 1, Vaughn declared and issued a three-for-one stock split. - On December 1, Vaughn issued an additional 14,100 shares. - Following the fiscal year, Vaughn declared and issued a two-for-one stock split on February 1, 2024. The company issued its 2023 financial statements on April 30, 2024. Calculate the weighted average number of common shares that Vaughn should use for calculating its EPS numbers for 2023. Weighted average number of common 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

Information Technology Auditing

Authors: Hall, J Scott Harr

3rd Edition

1133008046, 978-1439079119

More Books

Students also viewed these Accounting questions