Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Weighted Average Shares At the beginning on 2016, Greene Company had 250,000 shares of $10 par common stock outstanding. During the year, it engaged in

Weighted Average Shares

At the beginning on 2016, Greene Company had 250,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March 1. Issued 45,000 shares of stock at $25 per share

June 1. Issues a 10% stock dividend

July 1 Issued 9,000 shares of stock at $30 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 100,000 shares as treasury stock at a cost of $33 per share.

Nov. 30 reissued 55,000 treasury shares at a price of $36 per share

Determine the weighted average number of shares outstanding for computing the current earrings per share. Round you interim computations and final answer for the number of shares to nearest whole number.

Determine the number of common shares outstanding at Dec. 31, 2016

Please show your work, I keep getting an incorrect number and can't figured out where I am going wrong.

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

Essentials Of Forensic Accounting

Authors: Michael A Crain, William S Hopwood

2nd Edition

1948306441, 978-1948306447

More Books

Students also viewed these Accounting questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago