At the beginning of 2019, Hardin Company had 300,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:March1Issued 50,000 shares of stock at $23 per share.June1Issued a 20% stock dividend.July1Issued 10,000 shares of stock at $28 per share.Aug.31Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.Oct.31Reacquired 81,000 shares as treasury stock at a cost of $31 per share.Nov.30Reissued 43,000 treasury shares at a price of $34 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 answer for the number of shares to nearest whole number. fill in the blank 1 shares 2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 2 shares

The weighted average number of shares outstanding are calculated as shares outstanding with the…

Answered: At the beginning of 2019, Hardin…

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 20P: Winona Company began 2019 with 10,000 shares of 10 par common stock and 2,000 shares of 9.4%, 100...

See similar textbooks

Related questions

Question

At the beginning of 2019, Hardin Company had 300,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March	1	Issued 50,000 shares of stock at $23 per share.
June	1	Issued a 20% stock dividend.
July	1	Issued 10,000 shares of stock at $28 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 81,000 shares as treasury stock at a cost of $31 per share.
Nov.	30	Reissued 43,000 treasury shares at a price of $34 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 answer for the number of shares to nearest whole number.
fill in the blank 1 shares

2. Determine the number of common shares outstanding at December 31, 2019.
fill in the blank 2 shares

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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.

Similar questions