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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)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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