Weighted Average SharesAt the beginning of 2019, Hardin Company had 360,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:March1Issued 43,000 shares of stock at $22 per share.June1Issued a 15% stock dividend.July1Issued 15,000 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 88,000 shares as treasury stock at a cost of $30 per share.Nov.30Reissued 59,000 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. fill in the blank 1 shares2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 2 shares Weighted Average SharesAt the beginning of 2019, Hardin Company had 360,000 shares of $10 par common stock outstanding.During the year, it engaged in the following transactions related to its common stock:March 1 Issued 43,000 shares of stock at $22 per share.June 1 Issued a 15% stock dividend.July1 Issued 15,000 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 88,000 shares as treasury stock at a cost of $30 per share.Nov. 30 Reissued 59,000 treasury shares at a price of $33 per share.Required:1. Determine the weighted average number of shares outstanding for computing the current earningsper share. Round your interim computations and final answer for the number of shares tonearest whole number.shares2. Determine the number of common shares outstanding at December 31, 2019.shares

1. The weighted average number of shares outstanding = (Beginning shares outstanding+shares…

Answered: At the beginning of 2019, Hardin…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

100%

Weighted Average Shares

At the beginning of 2019, Hardin Company had 360,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March	1	Issued 43,000 shares of stock at $22 per share.
June	1	Issued a 15% stock dividend.
July	1	Issued 15,000 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 88,000 shares as treasury stock at a cost of $30 per share.
Nov.	30	Reissued 59,000 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.
fill in the blank 1 shares

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

Weighted Average Shares
At the beginning of 2019, Hardin Company had 360,000 shares of $10 par common stock outstanding.
During the year, it engaged in the following transactions related to its common stock:
March 1 Issued 43,000 shares of stock at $22 per share.
June 1 Issued a 15% stock dividend.
July
1 Issued 15,000 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 88,000 shares as treasury stock at a cost of $30 per share.
Nov. 30 Reissued 59,000 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.
shares
2. Determine the number of common shares outstanding at December 31, 2019.
shares

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

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