Kieso, Intermediate Accounting, 16e G (ACCT 3 e: 11:59 PM/ Remaining: 1919 min C

Question

Kieso, Intermediate Accounting, 16e G (ACCT 3 e: 11:59 PM/ Remaining: 1919 min CALCILATORBACKET On January 1, 2018, Warren Corporation had 1,020,000 shares of common stock outstanding. On March 1, the corporation issued corporation purchased on the market 550,000 of its own outstanding shares and retired them. Compute the weighted average number of shares to be used in computing earnings per share for 2018 Weighted average number of shares Click if you would like to Show Work for this question: Qpen Show Work to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: 0 of 1 used SUBMIT ANSWER

Explanation / Answer

Calculate weighted average no of shares :

Weighted average no of shares = 2169166 shares

Outstanding shares 1020000 1020000*12/12 1020000 New shares issued 160000 160000*10/12 133333 Total shares 1153333 Share after stock split 1153333*2 2306666 Less: Treasury stock 550000 550000*3/12 (137500) Weighted average no of shares 2169166

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