Whispering Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common stock. At no time has Whispering issued any potentially dilutive securities. Listed below is a summary of Whispering's common stock activities. 1. 2. 3. 4. (a) Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 12% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 A 2-for-1 stock split of Whispering's common stock took place on March 31, 2021 X Your answer is incorrect. 2,010,000 241,200 2,060,000 4,311,200 Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.
Whispering Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common stock. At no time has Whispering issued any potentially dilutive securities. Listed below is a summary of Whispering's common stock activities. 1. 2. 3. 4. (a) Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 12% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 A 2-for-1 stock split of Whispering's common stock took place on March 31, 2021 X Your answer is incorrect. 2,010,000 241,200 2,060,000 4,311,200 Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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vi.8
Transcribed Image Text:Whispering Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common
stock.At no time has Whispering issued any potentially dilutive securities. Listed below is a summary of Whispering's common stock
activities.
1.
2.
3.
4.
(a)
Number of common shares issued and outstanding at December 31, 2018
Shares issued as a result of a 12% stock dividend on September 30, 2019
Shares issued for cash on March 31, 2020
Number of common shares issued and outstanding at December 31, 2020
A 2-for-1 stock split of Whispering's common stock took place on March 31, 2021
X Your answer is incorrect.
2,010,000
241,200
2,060,000
4,311,200
Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020
comparative income statement.
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