Weighted Average SharesAt the beginning of 2019, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:March1Issued 44,000 shares of stock at $23 per share.June1Issued a 10% stock dividend.July1Issued 16,000 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 83,000 shares as treasury stock at a cost of $31 per share.Nov.30Reissued 55,000 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 2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank

Weighted average number of outstanding shares

Answered: 1. Determine the weighted average…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Weighted Average Shares

At the beginning of 2019, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March	1	Issued 44,000 shares of stock at $23 per share.
June	1	Issued a 10% stock dividend.
July	1	Issued 16,000 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 83,000 shares as treasury stock at a cost of $31 per share.
Nov.	30	Reissued 55,000 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

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

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