INTERMEDIATE ACCOUNTING(LL)-W/CONNECT
9th Edition
ISBN: 9781260216141
Author: SPICELAND
Publisher: MCG CUSTOM
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Chapter 19, Problem 19.12E
EPS; shares issued; stock dividend
• LO19–5, LO19–6
For the year ended December 31, 2018, Norstar Industries reported net income of $655,000. At January 1, 2018, the company had 900,000 common shares outstanding. The following changes in the number of shares occurred during 2018:
| Apr. 30 | Sold 60,000 shares in a public offering |
| May 24 | Declared and distributed a 5% stock dividend |
| June 1 | Issued 72,000 shares as part of the consideration for the purchase of assets from a subsidiary |
Required:
Compute Norstar’s earnings per share for the year ended December 31, 2018.
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On January 1, 2026, Blossom Corp. had 463,000 shares of common stock outstanding. During 2026, it had the following transactions
that affected the common stock account.
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Issued 118,000 shares
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June 1
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Issued a 3-for-1 stock split
October 1
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(a)
Determine the weighted-average number of shares outstanding as of December 31, 2026.
The weighted-average number of shares outstanding
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Chapter 19 Solutions
INTERMEDIATE ACCOUNTING(LL)-W/CONNECT
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