Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Weighted Average Shares At the beginning of 2014, Hardin Company had 320,000 shares of $10 par common stock outstanding. During the year, it engaged in

Weighted Average Shares At the beginning of 2014, Hardin Company had 320,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 42,000 shares of stock at $24 per share. June 1 Issued a 15% stock dividend. July 1 Issued 13,000 shares of stock at $29 per share. Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. Oct. 31 Reacquired 86,000 shares as treasury stock at a cost of $32 per share. Nov. 30 Reissued 40,000 treasury shares at a price of $35 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number. shares 2. Determine the number of common shares outstanding at December 31, 2014. 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

Management Control Systems

Authors: Kenneth Merchant, Wim Van Der Stede

5th Edition

1292444134, 9781292444130

More Books

Students also viewed these Accounting questions