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Drporation Had 141,60 X wplus.com/edugen/student/mainfr.uni + OF $ Kieso, Intermediate Accounting, 16e Wiley PLUS. Wielus I Help Contact Us Assignment Gradebook ORION Intermediate Accounting, 16e (ACC 334-33 Downloadable eTextbook CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Brief Exercise 16-10 Flint Corporation had 132,000 shares of stock outstanding on January 1, 2017. On May 1, 2017, Flint issued 64,800 shares. On July 1, Flint purchased 9.240 treasury shares which were reissued on October 1. Compute Flint's weighted average number of shares outstanding for 2017. Weighted average number of shares outstanding LINK TO TEXT Question Attempts: 0 of 10 used SAVE FOR LATER O A ESP 72020 ara buscar

Answer 1

Flint Corporation

Weighted average number of shares outstanding:

Date		Shares	factor*	Shares × factor
January 1	Shares @ beginning	132,000	4/12	44,000
May 1	Issue	(132,000+64,800) = 196,800	2/13	32,800
July 1	Buy Back	(196,800-9,240) = 187,560	3/12	46,890
October 1	Re issue	(187,560+9,240) = 196,800	3/12	49,200
				172,890

Factor is based on number of months.

Weighted average number of shares = 172,890 shares