Question - Calculates the weighted average numbers of common shares for the year do not give solution in image Greencastle Inc's shareholders' equity accounts were as follows at the beginning of the most recent fiscal year, August 1, 2020:$1 noncumulative preferred shares (101,000 shares issued)Common shares (332,000 shares issued)Retained earningsTotal shareholders' equityDuring the year, the following selected transactions occurred:Dec. 1Feb. 1June 20July 31(a)$2,525,0003,320,000Oct. 1 Repurchased 25,800 common shares for $20 per share.issued 62.400 common shares for $27 per share.Issued 9,200 common shares for $28 per share.Declared the annual preferred cash dividend to shareholders of record on July 10, payable on July 31.Net income for the year ended July 31, 2021. was $1.214.000average2.470,000$8,315,000

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uestion - Calculates the weighted average numbers of common shares for the year do not give solution in image

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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Question - Calculates the weighted average numbers of common shares for the year

do not give solution in image

Greencastle Inc's shareholders' equity accounts were as follows at the beginning of the most recent fiscal year, August 1, 2020:
$1 noncumulative preferred shares (101,000 shares issued)
Common shares (332,000 shares issued)
Retained earnings
Total shareholders' equity
During the year, the following selected transactions occurred:
Dec. 1
Feb. 1
June 20
July 31
(a)
$2,525,000
3,320,000
Oct. 1 Repurchased 25,800 common shares for $20 per share.
issued 62.400 common shares for $27 per share.
Issued 9,200 common shares for $28 per share.
Declared the annual preferred cash dividend to shareholders of record on July 10, payable on July 31.
Net income for the year ended July 31, 2021. was $1.214.000
average
2.470,000
$8,315,000

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