Homework Answers
9. Answer:
| # | Account Titles and Explanation | Debit | Credit |
| c. | Cash (1000 x $43) | 43000 | |
| Additional Paid-in Capital Treasury Stock | 5000 | ||
| Retained Earnings (plug in) | 2000 | ||
| Treasury Stock (1000 x $50) | 50000 |
10. Answer: a. $596,000
| Number of Shares | Period | Weighted-Average shares |
| 400000 | 6/12 | 200000 |
| 600000 | 6/12 | 300000 |
| Total | 500000 |
Number of shares of stock options = (120000 x $28)/$35 = $3360000/$35 = 96000
Number of shares to be used in computation of diluted earnings per share for 2019 = 500000 + 96000 = 596000
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