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accounting home help?
The beginning balance at January 1 was 100,000 shares. On May 1 they sold 40,000 new common shares for cash. On August 1 they declared a 75% common stock dividend. On November 1 they bought back 20,000 shares of common stock.
what s the weighted average common shares outstanding would be for the earnings per share calculation for the year. I have tried it so many times but it s wrong. any idea what to do? thanks
1 Answer
- Don GLv 76 years ago
Shares o/s : 1/1 - 100,000 x 4 mos; 5/1 - 140,000 x 3 mos; 8/1 - 245,000 x 3 mos; 11/1 - 225,000 x 2 mos.
Weighted avg: 400,000 + 420,000 + 735,000 + 450,000 = 2,005,000 / 12 = 167,083
