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At the beginning of 2019, Hardin Company had 390,000 shares of $10 par common stock outstanding. During the year, engaged in the following transactions related to its common stock: March 1 Issued 45,000 shares of stock at $22 per share. June 1 Issued a 10% 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 98,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 57,000 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. 579.500 X shares

At the beginning of 2019, Hardin Company had 390,000 shares of $10 par common stock outstanding. During the year, engaged in the following transactions related to its common stock: March 1 Issued 45,000 shares of stock at $22 per share. June 1 Issued a 10% 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 98,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 57,000 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. 579.500 X shares

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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At the beginning of 2019, Hardin Company had 390,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 45,000 shares of stock at $22 per share. June 1 Issued a 10% 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 98,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 57,000 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. 579,500 X shares
Transcribed Image Text:At the beginning of 2019, Hardin Company had 390,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 45,000 shares of stock at $22 per share. June 1 Issued a 10% 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 98,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 57,000 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. 579,500 X shares
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