Weighted Average Shares
At the beginning of 2011, Hardin Company had 290,000 shares of$10 par common stock outstanding. During the year, it engaged inthe following transactions related to its common stock:
March 1 Issued 43,000 shares of stock at $23 per share. June 1 Issued a 20% stock dividend. July 1 Issued 15,000 shares of stock at $28 per share. Aug. 31 Issued a two-for-one stock split on outstanding shares,reducing the par value to $5 per share. Oct. 31 Reacquired 92,000 shares as treasury stock at a cost of $31 pershare. Nov. 30 Reissued 53,000 treasury shares at a price of $34 pershare.
Required:
1. Determine the weighted average number of shares outstandingfor computing the current earnings per share. Round your interimcomputations and final answer for the number of shares to nearestwhole number.
The answer is not 0 or 499467 sharesâ.
2. Determine the number of common shares outstanding at December31, 2011.
Number of common shares outstanding at December 31, 2011 =737200 + 53000 = 790200 shares: this is correct.
I only need #1 answered. Please explain how you got your answer.Thank you!
Weighted Average Shares
At the beginning of 2011, Hardin Company had 290,000 shares of$10 par common stock outstanding. During the year, it engaged inthe following transactions related to its common stock:
| March | 1 | Issued 43,000 shares of stock at $23 per share. |
| June | 1 | Issued a 20% stock dividend. |
| July | 1 | Issued 15,000 shares of stock at $28 per share. |
| Aug. | 31 | Issued a two-for-one stock split on outstanding shares,reducing the par value to $5 per share. |
| Oct. | 31 | Reacquired 92,000 shares as treasury stock at a cost of $31 pershare. |
| Nov. | 30 | Reissued 53,000 treasury shares at a price of $34 pershare. |
Required:
1. Determine the weighted average number of shares outstandingfor computing the current earnings per share. Round your interimcomputations and final answer for the number of shares to nearestwhole number.
The answer is not 0 or 499467 sharesâ.
2. Determine the number of common shares outstanding at December31, 2011.
Number of common shares outstanding at December 31, 2011 =737200 + 53000 = 790200 shares: this is correct.
I only need #1 answered. Please explain how you got your answer.Thank you!
Related questions
Weighted Average Shares
At the beginning of 2014, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
| March | 1 | Issued 43,000 shares of stock at $24 per share. |
| June | 1 | Issued a 10% stock dividend. |
| July | 1 | Issued 11,000 shares of stock at $29 per share. |
| Aug. | 31 | Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. |
| Oct. | 31 | Reacquired 99,000 shares as treasury stock at a cost of $32 per share. |
| Nov. | 30 | Reissued 52,000 treasury shares at a price of $35 per share. |
Required:
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number.
shares
2. Determine the number of common shares outstanding at December 31, 2014.
shares
