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Novak Corporation had 318,000 shares of common stock outstanding on January 1, 2025. On May 1, Novak issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash. Weighted-average number of shares outstanding 339000 (b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend. Weighted-average number of shares outstanding

Novak Corporation had 318,000 shares of common stock outstanding on January 1, 2025. On May 1, Novak issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash. Weighted-average number of shares outstanding 339000 (b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend. Weighted-average number of shares outstanding

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Novak Corporation had 318,000 shares of common stock outstanding on January 1, 2025. On May 1, Novak issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash. Weighted-average number of shares outstanding 339000 (b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend. Weighted-average number of shares outstanding
Transcribed Image Text:Novak Corporation had 318,000 shares of common stock outstanding on January 1, 2025. On May 1, Novak issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash. Weighted-average number of shares outstanding 339000 (b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend. Weighted-average number of shares outstanding
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