On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021.
On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of
Transcribed Image Text:On January 1, 2021, Nichols Corporation had 500,000 shares of common
stock outstanding. During 2021 there were the following changes:
Mar 1 Issued 150,000 shares
Apr 1 Issued a 15% stock dividend
May 1 Acquired 50,000 shares of treasury stock
July 1 Issued a 2-1 stock split
Oct 1 Reissued 60,000 shares of treasury stock
Instructions:
Compute the weighted average shares outstanding for 2021.
Transcribed Image Text:Clipboard
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Dates Outstanding
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13 Jan 1 to March 1
14 March 1 to April 1
15 April 1 to May 1
16 May 1 to July 1
17 July 1 to Oct 1
18 Oct 1 to Dec 31
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Issued 150,000 shares
Issued a 15% stock dividend
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On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the
1 following changes:
2
8
9 Instructions:
10 Compute the weighted average shares outstanding for 2021.
11
14
Shares Outstanding
Acquired 50,000 shares of treasury stock
Issued a 2-1 stock split
Reissued 60,000 shares of treasury stock
Alignment
FRATINATA
Restatement
Merge & Center
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$ % 940.00
V
Fraction of Year
Number
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,00 ➜.0 Formatting ✓
17
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Weighted Shares
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