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Sheridan Corporation had 297,000 shares of common stock outstanding on January 1, 2025. On May 1, Sheridan issued 32,400 shares. (a) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued for cash. Weighted average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued in a stock dividend. Weighted average number of shares outstanding

Sheridan Corporation had 297,000 shares of common stock outstanding on January 1, 2025. On May 1, Sheridan issued 32,400 shares. (a) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued for cash. Weighted average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued in a stock dividend. Weighted average number of shares outstanding

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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Sheridan Corporation had 297,000 shares of common stock outstanding on January 1, 2025. On May 1, Sheridan issued 32,400 shares. (a) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued for cash. Weighted average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued in a stock dividend. Weighted average number of shares outstanding
Transcribed Image Text:Sheridan Corporation had 297,000 shares of common stock outstanding on January 1, 2025. On May 1, Sheridan issued 32,400 shares. (a) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued for cash. Weighted average number of shares outstanding (b) Compute the weighted-average number of shares outstanding if the 32,400 shares were issued in a stock dividend. Weighted average number of shares outstanding
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