Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. intermidiate accounting ii 20) using the follo

Intermidiate Accounting II 20) Using the following data, calculate weighted-average common...

80.2K

Verified Solution

Question

Accounting

Intermidiate Accounting II
image
20) Using the following data, calculate weighted-average common shares outstanding for Year 7. (5 points) As of Jan 1, Year 7, there were 20,000 shares of its $10-par common stock outstanding On March 1, issued 2,000 shares of its $50-par preferred stock. On April 1, issued 10,000 additional shares of its $10-par common stock. On May 1, paid a $100,000 cash dividend on all its shares of stock. On July 1, repurchased 5,000 shares of its $10 par common stock. On August 1, declared a 10% stock dividend on all shares of its $10-par common stock. On October 1, reissued 2,000 of previously repurchased shares. On December 31, reported net income of $700,000. Weighted average common shares outstanding (You may use the grid to figure the numbers.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students