On January 1, 2023, Cullumber Ltd. had 522,000 common shares outstanding. During 2023, it had the following transactions that affected the common share account: Feb. 1 Mar. 1 May 1 June 1 Oct. 1 Issued 172,000 shares Issued a 10% stock dividend Acquired 192,000 common shares and retired them Issued a 3-for-1 stock split Issued 60,000 shares The company's year end is December 31. (a)
On January 1, 2023, Cullumber Ltd. had 522,000 common shares outstanding. During 2023, it had the following transactions that affected the common share account: Feb. 1 Mar. 1 May 1 June 1 Oct. 1 Issued 172,000 shares Issued a 10% stock dividend Acquired 192,000 common shares and retired them Issued a 3-for-1 stock split Issued 60,000 shares The company's year end is December 31. (a)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On January 1, 2023, Cullumber Ltd. had 522,000 common shares outstanding. During 2023, it had the following transactions that
affected the common share account:
Feb. 1
Mar. 1
May 1
June 1
Oct. 1
Issued 172,000 shares
Issued a 10% stock dividend
Acquired 192,000 common shares and retired them
Issued a 3-for-1 stock split
Issued 60,000 shares
The company's year end is December 31.
(a)
* Your answer is incorrect.
Determine the weighted average number of shares outstanding as at December 31, 2023. (Round answer to O decimal places, e.g.
5,275.)
Weighted average number of shares outstanding
2,641,900 shares
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