Cullumber Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no time has Cullumber issued any potentially dilutive securities. The following is a summary of Cullumber's common share activities: Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 6,970,000 697,000 2,300,000 9,967,000 Cullumber issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Cullumber's common shares occurred on March 31, 2021. Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement.
Cullumber Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no time has Cullumber issued any potentially dilutive securities. The following is a summary of Cullumber's common share activities: Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 6,970,000 697,000 2,300,000 9,967,000 Cullumber issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Cullumber's common shares occurred on March 31, 2021. Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Cullumber Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million
common shares. At no time has Cullumber issued any potentially dilutive securities. The following is a summary of Cullumber's
common share activities:
Number of common shares issued and outstanding at December 31, 2018
Shares issued as a result of a 10% stock dividend on September 30, 2019
Shares issued for cash on March 31, 2020
Number of common shares issued and outstanding at December 31, 2020
6,970,000
697,000
2,300,000
9,967,000
Cullumber issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Cullumber's common shares occurred
on March 31, 2021.
Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019
comparative income statement.
Transcribed Image Text:Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2020
comparative income statement.
Weighted average number of common shares:
eTextbook and Media
Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020
comparative income statement.
Weighted average number of common shares
Show Transcribed Text
G
Weighted average number of common shares
eTextbook and Media
shares
Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2021
comparative income statement.
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4
Weighted average number of common shares
shares
shares
Calculate the weighted average number of common shares to use in calculating earnings per common share for 2021 on the 2021
comparative income statement.
shares.
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