Computing Weighted-Average Number of Common Shares Outstanding with a Stock Split. Thomas Company began the year with 150,000 common shares outstanding. The firm issued an additional 75,000 shares on May 1 and 15,000 shares on November 1. In addition, Thomas implemented a 2-for-1 stock split on July 1. The firm’s year-end is December 31. Determine the weighted-average number of common shares outstanding for the year.
Want to see the full answer?
Check out a sample textbook solutionChapter 20 Solutions
Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
Additional Business Textbook Solutions
Horngren's Accounting (12th Edition)
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
Financial Accounting, Student Value Edition (5th Edition)
Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
Principles of Operations Management: Sustainability and Supply Chain Management (10th Edition)
Marketing: An Introduction (13th Edition)
- Provide answer general Accounting questionarrow_forwardDegregorio Corporation makes a product that uses a material with the following direct material standards: Standard quantity 2.7 kilos per unit Standard price $9 per kilo The company produced 5,700 units in November using 15,760 kilos of the material. During the month, the company purchased 17,830 kilos of direct material at a total cost of $156,904. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for November is: a. $3,330 F b. $3,236 F c. $3,330 U d. $3,236 Uarrow_forwardNonearrow_forward
- The blending department had the following data for the month of March: Units in BWIP Units completed 7,200 Units in EWIP (40% complete) 750 $27,000 Total manufacturing costs Required: 1. What is the output in equivalent units for March? 2. What is the unit manufacturing cost for March?arrow_forwardGiven answer accounting questionarrow_forwardAccounting question answerarrow_forward
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeFinancial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage Learning
- Financial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,Corporate Financial AccountingAccountingISBN:9781305653535Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage LearningFinancial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning