Answer both subparts 1,2.if answered within 40mins,it would be fantasticWeighted Average SharesAt the beginning of 2019, Hardin Company had 350,000 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 $22 per share.June1Issued a 10% stock dividend.July1Issued 13,000 shares of stock at $27 per share.Aug.31Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.Oct.31Reacquired 96,000 shares as treasury stock at a cost of $30 per share.Nov.30Reissued 49,000 treasury shares at a price of $33 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.2. Determine the number of common shares outstanding at December 31, 2019.

The weighted average number of shares outstanding is determined by multiplying the number of shares…

Answered: At the beginning of 2019, Hardin…

Cornerstones of Financial Accounting

4th Edition

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Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

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Problem 84PSA: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...

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Answer both subparts 1,2.if answered within 40mins,it would be fantastic

Weighted Average Shares

At the beginning of 2019, Hardin Company had 350,000 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 $22 per share.
June	1	Issued a 10% stock dividend.
July	1	Issued 13,000 shares of stock at $27 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 96,000 shares as treasury stock at a cost of $30 per share.
Nov.	30	Reissued 49,000 treasury shares at a price of $33 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.

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

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