Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Weighted Average Shares At the beginning of 2019, Mardin Company had 380,000 shares of $10 par common stock outstanding. During the year, engaged in the

image text in transcribed
Weighted Average Shares At the beginning of 2019, Mardin Company had 380,000 shares of $10 par common stock outstanding. During the year, engaged in the following transactions related to como March 1 Issued 50,000 shares of stock at 524 per share June 1 Issued a 20% stock dividend. July 1 twed 8,000 shares of stock at 129 per share. Aug 31 ssued a 2 for 1 stock split on outstanding shares, redudng the par value to $5 per share Oct. 31 Reacquired 87,000 shares as treasury stock at a cost of $32 per than Nov. 30 Reissued 59,000 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. Hound your interim computation and final answer for the number of shares to nearest whole number. shares 2. Determine the number of common shares outstanding at December 31, 2019 1,020,00 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

Financial Accounting An International Introduction

Authors: David Alexander, Prof Christopher Nobes, Chris W. Nobes

4th Edition

027372164X, 978-0273721642

More Books

Students also viewed these Accounting questions