On January 1st, Admiral Nelson Company had 300,000 shares of common stock issued andoutstanding. Admiral issued a 10% stock dividend on June 30th. On September 30th, 12,000 shares ofcommon stock were reacquired as treasury stock. What is the appropriate number of shares to be usedin calculating basic earnings per share for the year?

On January 1st, Admiral Nelson Company had 300,000 shares of common stock issued andoutstanding. Admiral issued a 10% stock dividend on June 30th. On September 30th, 12,000 shares ofcommon stock were reacquired as treasury stock. What is the appropriate number of shares to be usedin calculating basic earnings per share for the year?

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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