Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Whispering Ltd. began its latest fiscal year on January 1, 2020, with 12,000 common shares outstanding. On April 1, Whispering sold 1,200 additional common shares.

Whispering Ltd. began its latest fiscal year on January 1, 2020, with 12,000 common shares outstanding. On April 1, Whispering sold 1,200 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Whispering repurchased and cancelled 210 common shares. An additional 3,750 common shares were issued on September 1. On November 1, Whispering declared and issued a 2-for-one stock split. On December 1, Whispering issued an additional 100 shares. Following the fiscal year, Whispering declared and issued a 3-for-one stock split on February 1, 2021. The company issued its 2020 financial statements on March 10, 2021.

Calculate the weighted average number of common shares that Whispering should use for calculating its EPS numbers for 2020.

Weighted average number of common shares
Enter your answer in accordance to the question statement shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Date Transaction Period share Number of shares outstanding a stock Res... 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

Cornerstones of Financial Accounting

Authors: Jay Rich, Jeff Jones

4th edition

978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898

More Books

Students also viewed these Accounting questions