t the beginning of 2019, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 47,000 shares of stock at $22 per share. une 1 Issued a 10% stock dividend. uly 1 ug. 31 Oct. 31 Reacquired 90,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 51,000 treasury shares at a price of $33 per share. his information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Issued 12,000 shares of stock at $27 per share. Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. X pen spreadsheet Lequired: Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number. 531,782 X shares . Determine the number of common shares outstanding at December 31, 2019.
t the beginning of 2019, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock: March 1 Issued 47,000 shares of stock at $22 per share. une 1 Issued a 10% stock dividend. uly 1 ug. 31 Oct. 31 Reacquired 90,000 shares as treasury stock at a cost of $30 per share. Nov. 30 Reissued 51,000 treasury shares at a price of $33 per share. his information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Issued 12,000 shares of stock at $27 per share. Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. X pen spreadsheet Lequired: Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number. 531,782 X shares . Determine the number of common shares outstanding at December 31, 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Weighted Average Shares
At the beginning of 2019, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
March 1 Issued 47,000 shares of stock at $22 per share.
June 1
Issued a 10% stock dividend.
July 1 Issued 12,000 shares of stock at $27 per share.
Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.
Oct. 31 Reacquired 90,000 shares as treasury stock at a cost of $30 per share.
Nov. 30 Reissued 51,000 treasury shares at a price of $33 per share.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
Required:
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number.
531,782 X shares
2. Determine the number of common shares outstanding at December 31, 2019.
413,400 X shares
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