Weighted Average SharesAt the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:March1Issued 48,000 shares of stock at $21 per share.June1Issued a 15% stock dividend.July1Issued 15,000 shares of stock at $26 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 $29 per share.Nov.30Reissued 43,000 treasury shares at a price of $32 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 shares2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 2 shares

(1) Following is the weighted average number of shares outstanding:

Answered: Weighted Average Shares At the…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter17: Synthesis And Extensions

Section: Chapter Questions

Problem 6E

See similar textbooks

Related questions

Question

Weighted Average Shares

At the beginning of 2019, Hardin Company had 200,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March	1	Issued 48,000 shares of stock at $21 per share.
June	1	Issued a 15% stock dividend.
July	1	Issued 15,000 shares of stock at $26 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 $29 per share.
Nov.	30	Reissued 43,000 treasury shares at a price of $32 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 with 1 images

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