Exercise 16-16 (Part Level Submission) On January 1, 2021, Cullumber Corp. had 459,000 shares of common...

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Exercise 16-16 (Part Level Submission) On January 1, 2021, Cullumber Corp. had 459,000 shares of common...

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

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(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

business accounting

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Answer 1

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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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Exercise 16-16 (Part Level Submission) On January 1, 2021, Cullumber Corp. had 459,000 shares of common...

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