Darren Company had 600,000 ordinary shares outstanding on January 1, issued 120,000 shares on May 1, purchased 60,000 treasury shares on September 1, and issued 90,000 shares on November 1. What is the weighted average number of shares outstanding for the vear?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 6Q: The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares:...
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19. Darren Company had 600,000 ordinary shares outstanding on January 1, issued 120,000 shares on May 1, purchased
60,000 treasury shares on September 1, and issued 90,000 shares on November 1. What is the weighted average number
of shares outstanding for the year?
a. 675,000
b. 750,000
c. 660,000
d. 810,000
Transcribed Image Text:19. Darren Company had 600,000 ordinary shares outstanding on January 1, issued 120,000 shares on May 1, purchased 60,000 treasury shares on September 1, and issued 90,000 shares on November 1. What is the weighted average number of shares outstanding for the year? a. 675,000 b. 750,000 c. 660,000 d. 810,000
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