Skysong Corporation had 135,600 shares of stock outstanding on January 1, 2020. On May 1, 2020, Skysong issued 48,000 shares. On July 1, Skysong purchased 10,800 treasury shares, which were reissued on October 1. Compute Skysong’s weighted-average number of shares outstanding for 2020. Weighted-average number of shares outstanding
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Skysong Corporation had 135,600 shares of stock outstanding on January 1, 2020. On May 1, 2020, Skysong issued 48,000 shares. On July 1, Skysong purchased 10,800 treasury shares, which were reissued on October 1.
Compute Skysong’s weighted-average number of shares outstanding for 2020.
Weighted-average number of shares outstanding |
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- Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares of 10%, 100 par, nonconvertible preferred stock outstanding, on which the years dividends had been paid. At the beginning of 2019, the company had 7,000 shares of common stock outstanding. On April 2, 2019, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2019. Common dividends of 17,000 had been paid during 2019. At the end of 2019, the market price per share of common stock was 17.50. Required: 1. Compute Mononas basic earnings per share for 2019. 2. Compute the price/earnings ratio for 2019.Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.Calculating the Number of Shares Issued Castanet Inc. issued shares of its $1. 50 par value common stock on November 9,2019, for $13 per share. In recording the issuance of the stock, Castanet credited the Additional Paid-In Capital- Common Stock account for $416,300. Required: How many shares were issued on November 9, 2019?
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