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On January 1, 2016, Wade Corporation had 24,000 shares of common stock outstanding. On April 1,...

On January 1, 2016, Wade Corporation had 24,000 shares of common stock outstanding. On April 1, it reacquired 2,400 shares; on July 1, it issued 10,800 shares; on October 1, it issued another 9,600 shares; and on December 1, it reacquired 900 shares. What was the weighted average number of common shares outstanding for 2016?

Is it .......28,900 or 26,950 or 41,400 or 29,925

Thanks!

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Answer #1
From To Total days Shares outstanding Weighted number of shares (366 days)
1/1/2016 1/4/2016 91 24000 5967
1/4/2016 1/7/2016 91 21600 5370
1/7/2016 1/10/2016 92 32400 8144
1/10/2016 1/12/2016 61 42000 7000
1/12/2016 31/12/16 31 41100 3481
TOTAL 366 29963
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