Weighted Average Shares At the beginning of Year 4, Hardin Company had 340,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions relat its common stock: March 1 Issued 48,000 shares of stock at $24 per share. June 1 Issued a 20% stock dividend. July 1 Issued 9,000 shares of stock at $29 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 $32 per share. Nov. 30 Reissued 45,000 treasury shares at a price of $35 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final ans for the number of shares to nearest whole number. 608,083 X shares 2. Determine the number of common shares outstanding at December 31, Year 4. 505 800 X shares
Weighted Average Shares At the beginning of Year 4, Hardin Company had 340,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions relat its common stock: March 1 Issued 48,000 shares of stock at $24 per share. June 1 Issued a 20% stock dividend. July 1 Issued 9,000 shares of stock at $29 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 $32 per share. Nov. 30 Reissued 45,000 treasury shares at a price of $35 per share. Required: 1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final ans for the number of shares to nearest whole number. 608,083 X shares 2. Determine the number of common shares outstanding at December 31, Year 4. 505 800 X shares
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter17: Synthesis And Extensions
Section: Chapter Questions
Problem 6E
Related questions
Question
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 3 steps
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning