Question

Exercise 16-16 (Part Level Submission) On January 1, 2021, Cullumber Corp. had 459,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 126,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 101,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 62,000 shares of treasury stock

(a) Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding enter the weighted-average number of shares outstanding as of December 31, 2018enter the weighted-average number of shares outstanding as of December 31, 2018

Answer 1

Ans:

Event		Dates		shares	restatement	fraction	weighted
		outstanding		o/s		of year	sahres
Beginning balance		01-Jan	to 1 feb	459,000	1.1*3	1//12	126225
issued shares		01-Feb	to 1 march	585,000	1.1*3	1//12	160875
stock dividend		01-Mar	to 1 may	643500	3	2//12	321750
reacquired shares		01-May	to 1 jube	542,500	3	1//12	135625
Stock split		01-Jun	to 1 oct	1627500		4//12	542500
Reissued shares		01-Oct	to dec 31	1689500		3//12	422375
weighted average number of shares outstanding							1709350

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