Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common shares issued and outstanding at December 31, 2020 4,228,800 4. A 2-for-1 stock split of Nash’s common stock took place on March 31, 2021
Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common shares issued and outstanding at December 31, 2020 4,228,800 4. A 2-for-1 stock split of Nash’s common stock took place on March 31, 2021
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 15GI
Related questions
Question
Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities.
| 1. | Number of common shares issued and outstanding at December 31, 2018 |
1,990,000
|
||
| 2. | Shares issued as a result of a 12% stock dividend on September 30, 2019 |
238,800
|
||
| 3. | Shares issued for cash on March 31, 2020 |
2,000,000
|
||
| Number of common shares issued and outstanding at December 31, 2020 |
4,228,800
|
|||
| 4. | A 2-for-1 stock split of Nash’s common stock took place on March 31, 2021 |
Transcribed Image Text:Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the
2020 comparative income statement.
shares
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub