At the beginning of 2019, Hardin Company had 270,000 shares of $10 par common stock outstanding. it engaged in the following transactions related to its common stock: March 1 Issued 41,000 shares of stock at $23 per share. June 1 Issued a 15% stock dividend. July Aug 1 Issued 11,000 shares of stock at $28 per share. 21 Issued a 2-for-1 stock split on outstanding shares reducing the par value to $5 per share
At the beginning of 2019, Hardin Company had 270,000 shares of $10 par common stock outstanding. it engaged in the following transactions related to its common stock: March 1 Issued 41,000 shares of stock at $23 per share. June 1 Issued a 15% stock dividend. July Aug 1 Issued 11,000 shares of stock at $28 per share. 21 Issued a 2-for-1 stock split on outstanding shares reducing the par value to $5 per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please provide neat and complete work with explanation and computation thanks
Transcribed Image Text:Weighted Average Shares
At the beginning of 2019, Hardin Company had 270,000 shares of $10 par common stock outstanding. During the year,
it engaged in the following transactions related to its common stock:
March 1 Issued 41,000 shares of stock at $23 per share.
June 1 Issued a 15% stock dividend.
July 1 Issued 11,000 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 48,000 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.
shares
2. Determine the number of common shares outstanding at December 31, 2019.
shares
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