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

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

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

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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
Transcribed Image Text: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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