Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash's common stock activiti 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common shares issued and outstanding at December 31, 2020 4,228,800 A 2-for-1 stock split of Nash's common stock took place on March 31, 2021 4. (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%
Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par commoi
stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash's common stock activities.
1.
Number of common shares issued and outstanding at December 31, 2018
1,990,000
2.
Shares issued as a result of a 12% stock dividend on September 30, 2019
238,800
3.
Shares issued for cash on March 31, 2020
2,000,000
Number of common shares issued and outstanding at December 31, 2020
4,228,800
A 2-for-1 stock split of Nash's common stock took place on March 31, 2021
4.
(a)
Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the
2020 comparative income statement.
shares
Transcribed Image Text:Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par commoi stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common shares issued and outstanding at December 31, 2020 4,228,800 A 2-for-1 stock split of Nash's common stock took place on March 31, 2021 4. (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. shares
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Earning per share and Dilutive securities
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education