On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it...

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On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it...

On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.

February 1		Issued 125,000 shares
March 1		Issued a 10% stock dividend
May 1		Acquired 98,000 shares of treasury stock
June 1		Issued a 3-for-1 stock split
October 1		Reissued 58,000 shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2021.

business accounting

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Answer 1

Answer #1

Calculate weighted average share outstanding

		Weighted average share
Jan 1	5020001.13*1/12	138050
Feb 1	6270001.13*1/12	172425
Mar 1	6270001.13*3/12	517275
May 1	59170031/12	147925
June 1	59170034/12	591700
Oct 1	1833100*3/12	458275
Total		2025650

So answer is 2025650 shares

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Answer 2

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