On January 1, 2022, NYC Co. had 1,191,000 shares of its $12 par value common stock outstanding. On March 1, NYC Co. sold an additional 2,382,000 shares for $48 per share. The company issued a 15% stock dividend on May 1. On August 1, NYC Co. repurchased 715,000 shares of its stock. On November 1, 1,072,500 shares were sold for $ 50 per share. What is the weighted- average number of shares outstanding for 2022? (NIE ) 4,129,067 3,175,733 3,533,233 3,771,567
On January 1, 2022, NYC Co. had 1,191,000 shares of its $12 par value common stock outstanding. On March 1, NYC Co. sold an additional 2,382,000 shares for $48 per share. The company issued a 15% stock dividend on May 1. On August 1, NYC Co. repurchased 715,000 shares of its stock. On November 1, 1,072,500 shares were sold for $ 50 per share. What is the weighted- average number of shares outstanding for 2022? (NIE ) 4,129,067 3,175,733 3,533,233 3,771,567
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2022, NYC Co. had 1,191,000 shares of its $12 par value common stock outstanding. On March 1, NYC Co. sold an additional 2,382,000 shares for $48 per share. The company issued a 15% stock dividend on May 1. On August 1, NYC Co. repurchased 715,000 shares of its stock. On November 1, 1,072,500 shares were sold for $ 50 per share. What is the weighted- average number of shares outstanding for 2022? (NIE ) 4,129,067 3,175,733 3,533,233 3,771,567
Under U.S. GAAP, when can companies record a change in estimate? (RE&CF 1) Only when FASB has issued a new rule that required the change Only to correct an error in previously issued financial statements Companies should not record these changes due to the confusion it causes investors. Only when the company can justify the change as preferable to current treatment
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