Homework Answers
| Date | Number of shares outstanding | Period of outstanding (out of 12 months) | Reverse Stock split reinstated | Weighted average number of shares outstanding |
| 1 Jan | 378000 | 3/12 [1Jan -1April] | 1/10 | 378000*3/12*1/10= 9450 |
| 1April | 378000+37800= 415800 | 3/12 [1April -1July] | 1/10 | 415800*3/12 *1/10 = 10395 |
| 1July | 415800*1/10= 41580 | 4/12 [1July -1Nov] | - | 13860 |
| 1nov | 41580-8100= 33480 | 2/12 [1Nov -31Dec] | 5580 | |
| Weighted average number of shares | 39285 | |||
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PRINTER VERSION BACK NEXT Exercise 17-1 7-5 On January 1, 2020, Cullumber Manufacturers had 378,000 common...
On January 1, 2020, Sunland Manufacturers had 270,000 common shares outstanding. On April 1, the corporation...
On January 1, 2020, Sunland Manufacturers had 270,000 common shares outstanding. On April 1, the corporation issued 27,000 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 10,200 of its own outstanding common shares to make them available for issuances related to its key executives' outstanding stock options. Calculate the weighted average number of shares outstanding as...
Help System Announcements PRINTER VERSION BACK Exercise 17-4 (Part Level Submission) On January 1, 2020, Cullumber...
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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
(a)
Your answer is correct.
Determine the weighted-average number of shares outstanding as of...
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
(a)
Determine the weighted-average number of shares outstanding as of
December 31, 2021.
The...
A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018,...
A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 117,000 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 Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding...
On January 1, 2020, Wildhorse Ltd. had 648,000 common shares outstanding. During 2020, it had the...
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On January 1, 2020, Wildhorse Ltd. had 522,000 common shares outstanding. During 2020, it had the...
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On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock (no...
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On January 1, 2020, Sunland Manufacturers had 270,000 common shares outstanding. On April 1, the corporation issued 27,000 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10% stock dividend on its common shares. On November 1, the corporation repurchased on the market 10,200 of its own outstanding common shares to make them available for issuances related to its key executives' outstanding stock options. Calculate the weighted average number of shares outstanding as...
Help System Announcements PRINTER VERSION BACK Exercise 17-4 (Part Level Submission) On January 1, 2020, Cullumber Limited had shares outstanding as follows: 5% cumulative preferred shares, $100 par value, 10,000 shares issued and outstanding $1,000,000 Common shares, 201,000 shares issued and outstanding 2,010,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 306,000 common shares. The acquisitions were as follows: Date of Acquisition Shares Issued Company A: April 1, 2020 164,000 Company...
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)
Your answer is correct.
Determine the weighted-average number of shares outstanding as of...
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...
Exercise 16-16 On January 1, 2018, Cullumber Corp. had 502,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 125,000 shares Issued a 10% stock dividend Acquired 98,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 58,000 shares of treasury stock *Your answer is incorrect. Try again. Determine the weighted average number of shares outstanding as of December...
Labonte Limited had 40,800 common shares outstanding on January 1, 2020. On March 1, 2020, Labonte issued 20,400 shares in exchange for equipment. On July 1, Labonte repurchased and cancelled 9,600 shares. Calculate the weighted average number of shares outstanding for Labonte for the year ended December 31, 2020. (Round answer to O decimal places, e.g. 5,125.) Weighted average number of shares outstanding
On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock (no per value, 93,000 shares issued and outstanding) $1,445,000 Retained Earnings 481,000 During the year, the following transactions occurred Feb. 1 Declared a $1 cash aividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 3-for-1 stock spit. Prior to the spit, the market price per share was $39 July 1...
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